Preserving affordable homes for communities
The Washington Housing Conservancy (WHC) is a nonprofit organization (501c3) that preserves homes that are affordable so residents in our communities—particularly moderate to low-income African Americans and other residents of color–can focus on the opportunity to build wealth, instead of the risk of escalating rents.
By acquiring and owning 3,000 units of affordable housing, WHC is stabilizing rents, preventing displacement, and creating communities where moderate to low-income residents and their families want to be.
WHC Social Impact Strategies
In a “hot” real estate market like the DC-region, affordable homes have become a scarce resource. Our particular focus is preventing displacement for moderate to low-income workers, like firefighters, teachers and hospitality workers, who find themselves increasingly priced out of their homes, and provide rent stability and opportunities to thrive and build wealth.
We work in neighborhoods of Naturally Occurring Affordable Housing—or NOAH. In these communities, absent government subsidy, rental properties are at risk of losing their affordability—and their economic and racial diversity—from redevelopment.
Home represents the ultimate building block or stumbling block in someone’s life. For some, home has been a way to build wealth and opportunity. For others, home has meant displacement, escalating rents and instability that make it almost impossible to imagine a different future.
Centuries of racist practices and attitudes has exacerbated disparities in housing and individual wealth, especially between white and Black households. A report from the Center for American Progress estimates that if these differences continue, it could take more than 200 years for the average Black family to accumulate the same amount of wealth as white families.
WHC is creating inclusive and diverse mixed-income communities of individuals and families in a targeted income range of between $40,000 and $120,000. In addition, we will house a small percentage (25-30%) of residents with incomes below $40,000.
What makes us different
The Washington Housing Conservancy is part of the Washington Housing Initiative, which is building a model for systemic change through three primary vehicles.
- Acquires, owns and operates real estate.
- Ensures adherence with affordability covenants.
- Assesses community needs and builds partnerships with service providers.
- Engages civic and community leaders in Housing Initiative and provide strategic direction.
- Fosters public/private partnerships and collaboration.
- Develops and advocates for policy objectives.
- Provides mezzanine/second trust debt financing.
- Coordinates placement of qualified 501(c)(3) bonds.
- Measures and reports impact outcomes
WHC is governed by an independent board of civic leaders.
Chief Executive Officer of Bernstein Management Corporation
Charlene Drew Jarvis
Director at National Women's Business Center, Inc.
Deborah Ratner Salzberg
Principal at Uplands Real Estate Partners
CEO of MDB Communications
Carol Thompson Cole
President and CEO of Venture Philanthropy Partners (VPP)
Chair of JBG SMITH’s Board of Trustees
Former Vice President of Buvermo Investments, Inc.
President of the Washington Region Association of Grantmakers
Chief Program Officer for the Federal City Council
Partner at ArentFox Schiff
Yvette Ross Kane
Director of Asset Management
Federal City Council
Established in 1954, the Federal City Council is a non-profit, non-partisan organization dedicated to the improvement of the District of Columbia.
JBG Smith is an S&P 400 company that owns, operates, invests in and develops assets concentrated in leading urban infill submarkets in and around Washington, DC.
The National Initiative on Mixed-Income Communities (NIMC) at Case Western Reserve University is an impact research center focused on urban equity and inclusion. It is the only center in the country focused exclusively on creating and sustaining mixed-income communities in the United States.
Preserving housing affordability and promoting economic mobility in the DC-region
Terms & Conditions