Redevelopment and expansion of a vacant 18,000 sq. ft. school building that formerly housed Our Lady of Perpetual Health Catholic School into a ‘state of the art’ 36,000 sq. ft. building to serve as the Anacostia campus of DC Prep.
The Deanwood Smokehouse will be a restaurant, music venue, bar and community gathering space for the neighborhood. Build community through teaching and enrichment activities, such as movie, video, theater, dance, and music productions, approximately a 6,800 square feet space.
Ontario Court is the rehabilitation of an 85-year old, three-story building in the Adams Morgan neighborhood of Washington, D.C., into a mixed-use facility serving low- and moderate-income residents. The “near-gut-rehab” renovation preserves 27 units of affordable housing in the gentrifying neighborhood, and creates 4,000 square feet of commercial space to house the new Jubilee JumpStart Early Childhood Development Center. Completed in 2009, the building houses six one-bedroom units, 18 two-bedroom units and three units with three bedrooms. A new laundry facility for the residents has been added to the building’s basement. Unit renovations also include new mechanical, electrical and plumbing systems; installation of new security systems; and air conditioning.
The Shops at Park Village project is a 111,293 sq. ft. commercial development in the Congress Heights neighborhood in southeast Washington, DC.
So Others Might Eat (SOME) is an interfaith, community-based organization that has been instrumental in helping the poor and homeless in our nation’s capital. SOME’s response to the District of Columbia’s increasing economic gap and affordable housing crisis is the development of the Conway Center, a 10 story mixed-use project that includes the Center for Employment Training (CET), 20 transitional housing units, 174 affordable housing units and a health clinic. Conway Center is located in Benning Heights Northeast DC, a highly distressed community with a growing need of quality affordable housing, health services and employment training to help address the 30.1 percent unemployment rate and 25.9 percent poverty rate.
DC Housing Enterprises (DCHE) and co-allocatee City First provided $21.3 million of New Markets Tax Credit (NMTC) financing for the construction of 20 transitional housing units, SOME office headquarters and CET. This project will extend training and housing opportunities for 300 students annually, of which 60 will be reserved for District of Columbia Housing Authority (DCHA) residents. DCHA, the controlling entity of DCHE, partnered with SOME to provide rent subsidies from the Local Rent Supplement Program for 142 Low Income Housing Tax Credit (LIHTC) units. Other sources of funding for the affordable units came from HUD, DC Department of Housing & Community Development, DC Housing Finance Agency and Citi Bank. The total project cost of $82,000,000 million also included financing from LISC, Morgan Stanley, and Kresge Foundation for the health clinic.
Conway Center’s housing and support services align in a manner that greatly improves the accessibility and efficiency of services to low income persons and ensures individuals and families have every opportunity to take the next steps in achieving stability and economic independence for themselves and their families.
The CET employs an effective model that not only provides a broad base of employment and training opportunities, but also incorporates an onsite support network for students with varying socio-economic challenges while they are enrolled in the program. Conway Center is an anchor investment that will spur economic growth in the Benning Heights community and will create 108 permanent jobs and 75 construction jobs. Construction is currently underway and is projected to be completed in 2017.
Mary’s Center for Maternal and Child Care addresses healthcare as a holistic process, involving not just medical needs, but also the needs of patient education and social services. Through a New Markets Tax Credit deal, BlueHub Capital, formerly known as Boston Community Capital, helped Mary’s Center expand its coverage and partner with local hospitals in programming. The organization’ COO, David Tatro, says, ‘97% of the patients who come to Mary’s Center would not receive the kind of care that they receive if we didn’t have good financial institutions willing to invest in us.” BlueHub Capital, Tatro concludes, “has made a huge difference.’
In 2008, BlueHub Capital, formerly known as Boston Community Capital, led a syndicate of lenders to finance the construction of the 45,000 square foot facility for E.L. Haynes Public Charter School, a school that had previously housed all of its activity in various temporary sites. E.L. Hayes Public Charter School is open year round and offers more than 1,000 education hours beyond the national requirements for schools through before and after-school programs, as well as intersession series. The school is seeing results; in two years, there was a 21% gain in reading levels and 37% gain in math scores. BlueHub Capital partnered with NCB Capital Impact, New Jersey Community Capital, The Reinvestment Fund and Partners for the Common Good to make a $10.5 million New Markets Tax Credit leverage loan to E.L. Haynes. Head of School Jennie Niles remarks that the other lending institutions that she went to were just not up to the job; BlueHub Capital, she says, ‘saved the day.’