As the District of Columbia encourages businesses and developers toward cleaner, energy-efficient practices, DC Green Bank, Capital Impact Partners, funded by Amazon’s Housing Equity Fund, and Ayesha Hudson of A-Peace LLC held an opening ceremony to showcase new sustainable housing units in Ward 8 on Oct. 3.
The project includes all electric construction, as well as installation of solar panels on-site to deliver clean, affordable energy for the residents in the community.
“Our mission at DC Green Bank is to advance inclusive prosperity. We provide affordable loans for projects that lower energy costs for residents, improve air and water quality across the District, deliver good green jobs, increase the amount of affordable housing, and extend equitable development,” said DC Green Bank’s CEO Trisha Miller.
DC Green Bank has invested nearly $60 million in climate and community impact projects throughout all eight of D.C.’s wards.
“We’ve invested in equitable solar access, supporting green developers, emerging businesses, and preserving large-scale green, affordable housing,” Miller explained.
The investments align with the District’s sustainability plans outlined in Clean Energy DC, which work to cut greenhouse gas emissions in half and reduce energy consumption by the same mark by 2032.
Affordable and clean housing is a major priority for D.C. Mayor Muriel Bowser. She aims to produce 36,000 new housing units and 12,000 affordable housing units by 2025.
“Affordable housing of all kinds is necessary, both the preservation of existing homes, that we’re not displacing residents, and the opportunity to create spaces that are going to be sustainable, eco-conscious, and are going to really help us ensure that they’re here over the long term,” said Kelly Ann Kirkpatrick, Grants and Partnerships lead for Amazon’s Housing Equity Fund.
Clean, energy-efficient housing will help decrease greenhouse gasses in the atmosphere, lower utility bills and improve the overall health and wellness of District citizens through renewable energy.
The race toward a cleaner D.C. is underway.
“We see Green Finance having the power to transform communities and advance climate and community benefits,” said Miller.
Native Washingtonian Plays Critical Role in New Sustainable Housing Units
Hudson, founder and CEO of A-Peace LLC, has been in real estate for more than 20 years and has taken on the challenge to provide clean, efficient units for D.C. residents. As a native Washingtonian and the developer behind the project, she was eager to tackle District clean energy and housing goals.
“D.C. has very aggressive clean energy goals so, once I became aware of that, I started learning about how the clean and clean energy industry works, I became more and more interested,” she explained.
Originally, Hudson was planning to sell the building that would eventually turn into sustainable housing units.
“In May 2021 I decided instead of putting the house on the market for rent, I should take advantage of the zoning and build an apartment building. It’s taken about two-and-a-half years from start to finish,” Hudson told The Informer.
The developer received $3.3 million in financial support for the new construction.
“Amazon is grateful for the opportunity to partner with DC Green Bank and Capital Impact Partners to bring more affordable housing to the D.C. metro area. We are working hand-in-hand to support and uplift emerging developers who are at the forefront of community development,” said Senthil Sankaran, managing principal for Amazon Housing Equity Fund, in a statement. “Ms. Hudson’s holistic approach to real estate development is not only creating sustainable and affordable homes, but also supporting overall health and wellbeing. Together, we are making a positive, long-lasting impact on communities in D.C.”
Hudson has big plans for how the property will be utilized.
“The plan is for the site to house college students and graduates that study real estate and have an interest in community development. We have a nonprofit that is in the works and it is community geared,” Hudson explained.
The program will seek to not only provide housing, but to propel students into the world of real estate.
“When we bring these young minds that are already interested in real estate, we’re going to give them an ownership opportunity at one of our sister properties. We plan to allow the residents to participate in the development process of more affordable housing that they will then be able to purchase,” she said.
For Hudson and the project’s partners, the housing works toward the larger goal of opening doors for more developers of color in the District.
“In development, the reason why there aren’t a lot of African American developers, specifically from my community, is the equity. It’s a stumbling block, folks aren’t able to bring the equity to the project. We’re getting more shine but, these are communities that historically have been overlooked for development,” Hudson explained.
Melissa Stallings, director of DMV Initiatives at Capital Impact Partners emphasized the importance of paving a path for District developers.
“I’m a native Washingtonian so this is really dear to my heart,” said Stallings. “Oftentimes in our city, we see development happening, but it’s not inclusive of individuals who are of the community.”