In July, Mayor Muriel Bowser announced the city would meet its 2019 goal of adding 36,000 housing units to the city by 2022.
In any context, 36,000 new homes are a major accomplishment. We at Jubilee Housing join the mayor in marking this important outcome, and we believe that D.C. has become a leader in housing production, especially for affordable housing.
The success was achieved by creating an ecosystem of collaborators who have worked together to finance, develop and operate much-needed housing in every ward of the city at various price points, with a special focus on deeply affordable units. We are grateful for the small part we played in reaching this goal.
However, we must be equally honest about the current environment. The ecosystem we built together is now at great risk. Post-pandemic trends are accelerating in the wrong direction. Rent collection is at a generational low across all market segments, from top-tier properties to deeply affordable housing. Our safety net programs…
Read the full story from the Washington Business Journal.