Mayor Bowser Announces First Investment from Preservation Fund to Keep Housing Affordable for Over 180 Residents

Check out this Press Release about the first  projects being funded from the new Preservation Fund.  DC LISC is the fund manager for the inaugural projects, including 5912 14th Street NW, which is the focus of this WUSA9 story on El Salvadoran families and others using Preservation Funds to save affordable housing.

A few quotes from the article include:

“Doing these projects is like a custom-tailored suit,” Jacobson said. “Every one takes special measuring and sewing and cutting. [The Preservation Fund] gives us a standard product, in some ways.”

That “product” is a reliable source of acquisition funding, which can be the biggest hurdle for tenant groups hoping to actually use TOPA, Jacobson said.

Jacobson said the 5912 14th Street property was appealing to LISC DC because of the character of the Brightwood Park neighborhood, and of the people who live in it.