Hope View Apartments & Recovery Café

About the project


Anacostia Economic Development Corporation (AEDC) is a Community Development Corporation that was established in the 1970’s to meet the overall economic needs, and to improve the quality-of-life circumstances of District of Columbia residents, specifically those residing in the Anacostia/Far Southeast community. Over the years AEDC and its subsidiaries have been at the forefront of housing development, commercial revitalization (including small/minority business development), job creation and venture development to serve residents who live East of the Anacostia River and the District of Columbia at-large. AEDC continues to devote significant resources to facilitate opportunities for small businesses to start, expand and grow.  Along with these opportunities AEDC helps create safe communities for residents to live, work, and patronize.

T&H Investments is a Women-owned Business Entity whose focus is on reviving communities to help them flourish, advance, and succeed. With offices in Indianapolis, Indiana and Washington DC, they specialize in the development and construction of multifamily, mixed use, and other commercial projects including adaptive reuse, affordable housing, and workforce housing. T&H is proud to be a WBE certified Company and has developed projects using 4% and 9% low income housing tax credits, soft subsidy loans through state and local governments, state and federal historic tax credits, tax abatements, bridge loans, and private equity. The executive leadership team has developed over $1 Billion of affordable housing projects and has more than 30 years of community development experience. 

AEDC is focused on Ward 8, with an emphasis on historic Anacostia. T&H Investments has offices in Indianapolis, IN and Washington, DC.

LISC provided a $500,000 predevelopment loan to support the construction of Hope View Apartments, a 42-unit deeply afforable rental building with commercial space on the ground floor for Recovery Café DC. The apartments will include 16 units set aside for formerly homeless households. Recovery Cafe provides services for people who have been struggling with addiction and other mental health challenges, homelessness and incarceration adn gives them the community and support to sustain their recovery. The development will be built to Enterprise Green Communities+ standards.

“We really wanted to put Recovery Café in the ownership stream and give them a perpetual operating income. And we think this can demonstrate to nonprofits and communities with a shared vision what they can come together and achieve.”

- Stan Jackson, president and CEO of AEDC via Washington Business Journal

More LISC Lending's Project Profiles

Partner:

Anacostia Economic Development Corporation
T&H Investments

Location:

Washington, DC

Total Investment:

$500,000

Results:

42 units
4 jobs created or perserved
8,000 sq. ft

Project Category:

Affordable Housing

Product:

Predevelopment loan

Sponsor Website:

www.anacostiacdc.com/
tandhinvestments.com/

UN SDGs: