Trending...
- Raidium révolutionne le diagnostic de la Sclérose en Plaques en partenariat avec l'Hôpital Fondation Adolphe de Rothschild
- West Dentistry Welcomes New Oral Surgeon to Enhance Patient Care
- Real Estate Experts Highlight Jersey Shore as a Smart Buy in 2025
BETHESDA, Md.--(BUSINESS WIRE)--JBG SMITH (NYSE: JBGS) today announced that the Impact Pool, the affordable housing investment platform it manages, provided $50 million in 2022 to acquire 955 units of workforce housing across three residential communities in the Washington, DC region.
Part of the Washington Housing Initiative (WHI) that was launched by JBG SMITH and Federal City Council, the Impact Pool leverages private capital to help combat the scarcity of housing for middle-income families throughout the DC region's most up-and-coming neighborhoods. The Impact Pool is managed by a subsidiary of JBG SMITH.
With its 2022 investments, the Impact Pool has helped create and preserve more than 2,500 units of quality workforce housing since 2020 and is on pace to exceed its goal of delivering between 2,000 and 3,000 units by 2028.
WHI targets high-impact, rapidly changing communities, which are relatively affordable today but vulnerable to rising housing costs. Through its investment, the Impact Pool preserves affordability, prevents displacement, and allows long-time residents to benefit from improvements in schools, neighborhood services and transit.
"We created the Impact Pool to steer private investment into housing for teachers, nurses, EMTs and other workers who are essential to their communities," said AJ Jackson, EVP of Social Impact Investing at JBG SMITH. "We are grateful to all of the investors in the Impact Pool and our many partners who have helped us illustrate both the business case and the social case for investing in the quality housing our working families need and deserve."
More on Marylandian
In 2022, the Impact Pool provided financing for Earle Manor, The Gale Eckington and The Loree Grand. JBG SMITH is acting as property manager at each of the three communities.
Earle Manor
In March, the WHI Impact Pool provided financing for the Washington Housing Conservancy and Montgomery Housing Partnership's acquisition of Earle Manor, a 140-unit multifamily asset. Located in Wheaton, Maryland, this marked WHI's first investment in Montgomery County.
The Gale Eckington
In December, the WHI Impact Pool invested in a joint venture with the Jonathan Rose Companies to acquire The Gale Eckington, a 603-unit multifamily building located in the Eckington submarket of Northeast, Washington, DC. The acquisition was also supported by subordinate financing from Amazon's Housing Equity Fund.
The Loree Grand
Also in December, the WHI Impact Pool provided financing to the Washington Housing Conservancy for its acquisition of The Loree Grand at Union Place, a 212-unit multifamily building located in the NoMA neighborhood of Washington, DC. The Conservancy's acquisition was also supported by subordinate financing from Amazon's Housing Equity Fund.
About Washington Housing Initiative
The Washington Housing Initiative Impact Pool is an approximately $115 million investment vehicle that targets after-tax returns equivalent to many traditional investment funds. The Impact Pool is managed by JBG SMITH Impact Manager, a subsidiary of JBG SMITH Properties. To date, the Impact Pool has invested in over 2,500 units across DC, Maryland and Virginia.
For more information on the Washington Housing Initiative and the Impact Pool please visit www.washingtonhousinginitiative.com.
More on Marylandian
About JBG SMITH
JBG SMITH owns, operates, invests in and develops a dynamic portfolio of mixed-use properties in the high growth and high barrier-to-entry submarkets in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Washington, DC metropolitan area. Over half of JBG SMITH's holdings are in the National Landing submarket in Northern Virginia, where it serves as the developer for Amazon's new headquarters, and where Virginia Tech's $1 billion Innovation Campus is under construction. JBG SMITH's portfolio currently comprises 15.6 million square feet of high-growth office, multifamily and retail assets at share, 98% of which are metro-served. It also maintains a development pipeline encompassing 9.8 million square feet of mixed-use development opportunities. JBG SMITH is committed to the operation and development of green, smart, and healthy buildings and plans to maintain carbon neutral operations annually. For more information on JBG SMITH please visit www.jbgsmith.com.
Contacts
Media
Bud Perrone
Rubenstein
Managing Director
(212) 843-8068
bperrone@rubenstein.com
Samantha Schmieder
JBG SMITH
Corporate Communications Manager
(240) 333-7706
sschmieder@jbgsmith.com
Investor Relations
Barbat Rodgers
JBG SMITH
Senior Vice President, Investor Relations
(240) 333-3805
brodgers@jbgsmith.com
Part of the Washington Housing Initiative (WHI) that was launched by JBG SMITH and Federal City Council, the Impact Pool leverages private capital to help combat the scarcity of housing for middle-income families throughout the DC region's most up-and-coming neighborhoods. The Impact Pool is managed by a subsidiary of JBG SMITH.
With its 2022 investments, the Impact Pool has helped create and preserve more than 2,500 units of quality workforce housing since 2020 and is on pace to exceed its goal of delivering between 2,000 and 3,000 units by 2028.
WHI targets high-impact, rapidly changing communities, which are relatively affordable today but vulnerable to rising housing costs. Through its investment, the Impact Pool preserves affordability, prevents displacement, and allows long-time residents to benefit from improvements in schools, neighborhood services and transit.
"We created the Impact Pool to steer private investment into housing for teachers, nurses, EMTs and other workers who are essential to their communities," said AJ Jackson, EVP of Social Impact Investing at JBG SMITH. "We are grateful to all of the investors in the Impact Pool and our many partners who have helped us illustrate both the business case and the social case for investing in the quality housing our working families need and deserve."
More on Marylandian
- Radarsign Tackles Intersection Safety with Launch of Grid-Free Solar LED Stop Sign
- Miami Real Estate Agent Drastically Increases Interest In Homes
- Adostics & Genmega Announce the Introduction of A-POD
- LIB and Nidec Rejoin Forces for Giant TH-0098 Temperature Humidity Test Chamber
- Deliverance Service Coming to Hagerstown, MD
In 2022, the Impact Pool provided financing for Earle Manor, The Gale Eckington and The Loree Grand. JBG SMITH is acting as property manager at each of the three communities.
Earle Manor
In March, the WHI Impact Pool provided financing for the Washington Housing Conservancy and Montgomery Housing Partnership's acquisition of Earle Manor, a 140-unit multifamily asset. Located in Wheaton, Maryland, this marked WHI's first investment in Montgomery County.
The Gale Eckington
In December, the WHI Impact Pool invested in a joint venture with the Jonathan Rose Companies to acquire The Gale Eckington, a 603-unit multifamily building located in the Eckington submarket of Northeast, Washington, DC. The acquisition was also supported by subordinate financing from Amazon's Housing Equity Fund.
The Loree Grand
Also in December, the WHI Impact Pool provided financing to the Washington Housing Conservancy for its acquisition of The Loree Grand at Union Place, a 212-unit multifamily building located in the NoMA neighborhood of Washington, DC. The Conservancy's acquisition was also supported by subordinate financing from Amazon's Housing Equity Fund.
About Washington Housing Initiative
The Washington Housing Initiative Impact Pool is an approximately $115 million investment vehicle that targets after-tax returns equivalent to many traditional investment funds. The Impact Pool is managed by JBG SMITH Impact Manager, a subsidiary of JBG SMITH Properties. To date, the Impact Pool has invested in over 2,500 units across DC, Maryland and Virginia.
For more information on the Washington Housing Initiative and the Impact Pool please visit www.washingtonhousinginitiative.com.
More on Marylandian
- Heritage at South Brunswick Offers Immediate Townhome Appointments and Special Mortgage Incentive Fast-Moving Sales
- NASA Collaborative Agreement for Supply of Thin-Film Solar Tech for Orbital Application to Advance Development of Thin-Film PV Power Beaming: $ASTI
- Exciting New Era of Sports, Entertainment & Gaming Innovation Spotlighted by Rebrand of Expanding AI Driven, Online Fan Engagement Company: SEGG Media
- VFAF MD State Chapter Joins Texas Flood Relief Ops said Stan Fitzgerald Veterans for America First
- Service Ninjas Debuts First-of-Its-Kind "Membership" Platform for Home Service Pros
About JBG SMITH
JBG SMITH owns, operates, invests in and develops a dynamic portfolio of mixed-use properties in the high growth and high barrier-to-entry submarkets in and around Washington, DC. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Washington, DC metropolitan area. Over half of JBG SMITH's holdings are in the National Landing submarket in Northern Virginia, where it serves as the developer for Amazon's new headquarters, and where Virginia Tech's $1 billion Innovation Campus is under construction. JBG SMITH's portfolio currently comprises 15.6 million square feet of high-growth office, multifamily and retail assets at share, 98% of which are metro-served. It also maintains a development pipeline encompassing 9.8 million square feet of mixed-use development opportunities. JBG SMITH is committed to the operation and development of green, smart, and healthy buildings and plans to maintain carbon neutral operations annually. For more information on JBG SMITH please visit www.jbgsmith.com.
Contacts
Media
Bud Perrone
Rubenstein
Managing Director
(212) 843-8068
bperrone@rubenstein.com
Samantha Schmieder
JBG SMITH
Corporate Communications Manager
(240) 333-7706
sschmieder@jbgsmith.com
Investor Relations
Barbat Rodgers
JBG SMITH
Senior Vice President, Investor Relations
(240) 333-3805
brodgers@jbgsmith.com
Filed Under: Business
0 Comments
Latest on Marylandian
- New Release: 'The Invisible Alternative' Unveiled by Atrisk Corporation, Resilient
- Cynthia Pinot Among Artists Selected for Renowned London Art Biennale 2025
- Real Estate Experts Highlight Jersey Shore as a Smart Buy in 2025
- $18 Price Target Issued in New Research Report After $34 Million Revenue Forecast from Acquisition; $101.5 Million Net Revenue in 2025; NAS DAQ: IQST
- West Dentistry Welcomes New Oral Surgeon to Enhance Patient Care
- The AML Shop Launches New Financial Investigations Unit, Appoints Director to Lead the Initiative
- Raidium révolutionne le diagnostic de la Sclérose en Plaques en partenariat avec l'Hôpital Fondation Adolphe de Rothschild
- New Podcast "Spreading the Good BUZZ" Hosted by Josh and Heidi Case Launches July 7th with Explosive Global Reach and a Mission to Transform Lives
- The Herbal Care, Led by Markel Bababekov, Becomes a Top Dispensary in NYC's Upper East Side
- Digital Watchdog Launches New myDW Cloud Services
- Stan Fitzgerald Appointed Acting Press Secretary for Veterans for America First VFAF Georgia State Chapter
- Drone Light Shows Emerge as the New Standard in Live Event Entertainment
- Lore Link is Here to Help Organize Your Game
- Chappaqua's Annual Townwide Summer Sale – Unbeatable Savings at Your Favorite Local Boutiques!
- Skyline Partners with ZenSpace to Offer Private Meeting Pods for Trade Show Exhibitors
- RestoraPet of Gaithersburg, MD acquired by Individual Entrepreneur of Rochester, MI
- AI Innovation Dual-Strategy Business Model Focused on Real Estate Development for Strategic Expansion: OFA Group, (N A S D A Q: OFAL)
- Construcción del Corredor Norte–Sur (NSC) de Singapur
- New Report: Slip and Fall Accidents Rank as the Leading Cause of Construction Site Fatalities
- Get Your Cowboy Boots On! Causeway Country BBQ Music Festival Kicks Off September 12–14 in Ft. Pierce