Featured Project Archive

Home » Featured Project Archive »

1340 Fairmont St NW

In the Spring of 2007, the residents at 1340 Fairmont St NW celebrated the re-opening of their newly renovated units. Formerly a limited equity cooperative, in 2001 the tenants decided to convert to condominiums. Today, 7 of the 8 original households (pictured below) have moved back into the building and 9 new families will have the opportunity to buy quality, affordable condominiums in the heart of COlumbia Heights.

When the property at 1340 Fairmont St. first came to our attention in 1997, the 16 unit building had deteriorated substantially, with 9 vacant units.  The Cooperative was in danger of defaulting on their mortgage and needed assistance to remain in their property.

Many of the longer term residents have very low incomes, which has made the process of obtaining financing and determining a renovation plan quite difficult during the first few years.  In 1997, we provided a re-financing loan to take out a higher interest bank loan, at the request of the Development Corporation of Columbia Heights.

In 2001 Manna, Inc stepped in to manage the development process for the Cooperative LISC and BB&T supplied the construction financing with LISC providing a $692,400 construction loan.

Because the tenants already owned the building, the condo prices for the existing tenants were able to be kept quite low. Sales prices on the eight vacant units were from $175,000- $195,000 - a steal given that they are within a short walking distance to the Columbia Heights Metro Station. Comparable units now go for about twice those amounts.

 

Atlas Performing Arts Center

Winner of the Washington Business Journal's Best Rehab/ Renovation/ Reuse Project of 2006, the vibrant Atlas Performing Arts Center has brought a new energy and economic vitality to the H Street NE Corridor.

What began in 2004 as the dream of local attorney and arts lover Jane Lang came to fruition in November 2006. The formerly dilapidated Atlas Theatre, vacant for over 30 years is now a fully functioning performing arts center with four theatres, three dance studios, offices, dressing rooms, lobbies, a cafe, and production and rehearsal space.

The $20 million renovation was funded through grants from the City, foundations and individuals and used Historic and New Markets Tax Credits.

LISC supported this project from the beginning with initial operating support grants and provided ongoing technical assistance. We continue our support of the Atlas through their Clean and Safe Program which seeks to help attract more theatre-goers and shoppers to the 1200 to 1400 blocks of the H Street NE Corridor.

GALA Hispanic Theatre

For the past 31 years, GALA Hispanic Theatre has been a key force in both the Washington DC Arts and Latino community. Through its productions of plays, music, dance and children’s presentations, audiences of diverse backgrounds become connected through the arts.

In October 2002, GALA mounted a $3.8 million Capital Campaign to renovate and build out the long vacant historic Tivoli Theatre in Columbia Heights as their permanent home. 

In January 2005, after completing the basic build out, GALA moved into the beautifully restored theatre.   This is the first time in its history that GALA has a permanent place to house operations and productions.  GALA held its first major production in the space on February 17, 2005.

LISC supported GALA with $95,000 in operating support grants and a $100,000 working capital loan to bridge incoming pledges.

 

Highland Condominiums

Highland Condominiums, formerly known
as Dubois Court, is a 4-story, 18,900 square foot brick building atop a hill in the Randle Highlands neighborhood. Several years ago East of the River (ERCDC) purchased the property, then vacant for a number of years, and began the process rehabilitating and converting the property to an 18-unit condominium.

Completed in the fall of 2006, this project provides quality affordable homeownership to lower incomes families at a time when low and moderate income families find themselves priced out of most neighborhoods.  With expansive vistas of the city from the top floors, granite countertops, hardwood floors, and a washer/dryer in each unit, these condominium units sold quickly. All of the buyers are first time homeowners and working professionals.

Highland Condominiums at a glance:

Nonprofit Partner	East of the River CDC
Project location	1800 28th Place, SE Randle Highlands neighborhood
LISC Investment	$600,000 revolving loan
Total number of units	18 (1 three bedroom, 1 one bedroom, 16 two bedrooms)
Sales Prices	$150,000 - $175,000
Total Development Costs	$4.8 Million
Other Lenders	Dept of Housing and Community Development, National Cooperative Bank

Kingsbury

In existence since 1938, Kingsbury is the oldest independent educational institution serving children and adults with learning disabilities in Washington DC. They operate a school, diagnostic center, tutoring program and a number of training programs for public school teachers.

Over the years as demand grew steadily for their services, Kingsbury outgrew their Dupont Circle location. With a $675,000 financial guaranty from LISC , in 2001, Kingsbury moved to the vacant Dickson Mansion on the 5000 block of 14th Street N.W. in the Carter Baron neighborhood.

In September 2001 Kingsbury started the school year in its newly renovated campus. Since the move, each year they added a new grade starting with 9 and this past year adding grade 12. This past June Kingsbury celebrated the first ever high school graduation, with sixteen students receiving their diploma. As the valedictorian noted in her speech "we shared the uniqueness of being the first freshmen, sophomores, juniors and finally the first Kingsbury seniors. We are the trailblazers and we have learned what it means to accomplish a goal." [Pictured above, inside Kingsbury's Campus ]

The move allowed Kingsbury to expand in other important ways. They were able to enhance their library, tutoring and diagnostic testing services, while offering two computer labs and a science lab for increased learning opportunities.   In addition, an expanded physical education program was created where students participate in a variety of sports and scrimmage against other area schools .

Capital Area Food Bank

At a glance:

Nonprofit Partner	Capital Area Food Bank
Project location	4900 Puerto Rico Ave, NE, Brookland neighborhood
LISC Investment	$1.5 million acquisition and construction loan
Total Development Costs	Estimated at $22.2 million
Other Lenders	Dept of Housing and Community Development, Nonprofit Finance Fund

It is hard to believe that people living in our area still suffer from hunger. But according to the Capital Area Food Bank (CAFB) approximately 400,000 residents in the Washington, D.C. metro area are at risk of hunger --100,000 are children.  The CAFB serves over 275,000 local residents who are at risk of hunger every year. 

With need so great, the CAFB had outgrown their current space on Taylor St. NE in the Brookland neighbohrood. They needed more storage, program and office space. CAFB spent a couple years looking for a suitable new facility. They didn't have to look far --they found the perfect space less than a mile from their location, and it was for sale.

The seller wanted to sell the property quickly- more quickly than the CAFB could pull together financing for the $10.35 million price tag. Wanting to make sure this property became theirs, they used seller takeback financing to fill their financing gap. CAFB approached LISC and asked us to provide financing to repay the seller, as our loan terms were more favorable. In December 2005, we provided a $1,500,000 loan to be used to repay a portion of the seller take back financing and for the renovation of the facility. 

CAFB plans to move in to their new facility at 4900 Puerto Rico Ave NE over the next year. The new facility will not only allow  CAFB to expand programs now stalled due to space constraints, but will increase efficiencies of product movement, provide additional storage space for both dry and refrigerated food donations, increase truck access through a greater number of varied dock spaces, and install a re-packaging room that will allow them to accept bulk donations.  It will also provide much needed administrative space that will allow for improved management of programs and general administration.

Brightwood Gardens

In the spring of 2005, the residents of 931 Longfellow Street encountered a very common event in Washington, D.C.: the long-term landlord of the building, who had made little investment in, or improvements to the building, notified them that he had entered into a contract to sell the property. 

Fearful of what a new owner might plan, the residents were eager to respond. They sought assistance from University Legal Services and the Harrison Institute and formed a tenants Association. In March 2005, they registered their intent to purchase and just one year later, they became owners of their 53-unit building.

Address	931 Longfellow St. NW in the Brightwood neighborhood
Total Development Costs	$8,188,792
Lenders	LISC $1.6 million; BB&T- $1.6 million
Outcome	Preserves 27 units of affordable housing in a neigbborhood experiencing escalating price increases. It also brings homeownership opportunities to 20 first time buyers.

Capitol Corner Condominiums

In October 2005, Manna completed their first green affordable property. The Capitol Corner condominiums, a 2-unit property in Capital Hill, contains products and was built using construction practices that create healthy indoor environments, keep utility costs low and protect the overall environment. 

LISC supported Manna's Greening Initiative through our partnership with the Home Depot Foundation. We provided grant funds to cover the incremental cost of incorporating green features and practices and to bolster Manna's capacity in green building.

Nonprofit Partner:	Manna Inc.
Address/Neighborhood:	320 K Street NE / Capital Hill
Sales Price:	$160,000-$172,000
Green Features :	Blown-in insulation Low-E and Argon gas windows Mastic-sealed ductwork High-efficiency air conditioning units No-VOC (volatile organic compound) paint Low flow bath fixtures Fresh air exchanger Recycled content carpet Reclaimed wood cabinets

The Arthur S. Flemming Senior Services Center

For the past 23 years Emmaus Services for the Aging has been linking the local faith communities with low-income seniors in Shaw , Logan Circle and Dupont Circle. 

Emmaus provides a variety of services that reduce the isolation of low-income senior citizens.  These services include phone calls for reassurance, in home visits, escorts to medical appointments, help with cleaning and home repairs; delivery of food and groceries; advocacy for benefits and services and assistance in finding housing.

To create permanent program space in the community and expand the group activities and programming that it offers, Emmaus launched a capital campaign and acquired three adjacent vacant properties for conversion.  Their new center opened in 2003 and is named for Arthur S. Flemming, a social policy advisor to presidents from Truman to Clinton who served as a devoted advocate for the elderly.  Dr. Flemming was Chairman of the White House Conference on Aging in 1971 as well as the U.S. Commissioner on Aging.  Dr. Flemming also served as the Chairman of the LISC Local Advisory Committee from 1982 to 1993.

Nonprofit Partner:	Emmaus Services for the Aging, Inc.
Address/Neighborhood:	1422-26 9th Street N.W./Shaw
Lenders:	LISC -   $400,000 construction loan; BB&T - $400,000
Examples of Other Supporters:	Department of Housing and Community Development; Federal Home Loan Bank of Atlanta Edge Program; Historic Preservation Tax Credit; proceeds from Capital Campaign
Outcomes:	In June 2001 Emmaus held a groundbreaking ceremony for the development of The Arthur S. Flemming Center. On May 7, 2003 the community celebrated the grand opening of the Center.  The center serves as home to Emmaus, and twelve other nonprofits working on issues of peace, social justice and direct service to the poor.