The Power of Partnership

The Adams Morgan, Columbia Heights, and Mount Pleasant neighborhoods in Washington, DC are adjacent neighborhoods at risk of suffering the long-term impacts of gentrification, including the displacement of long-time residents. In a partnership that originated nearly 20 years ago, United Bank and Jubilee Housing have worked collectively to spur revitalization efforts and slow the economic impact of gentrification by maintaining affordability while also supporting the life-changing programs needed to help residents thrive. Working collaboratively and comprehensively, the partnership has catalyzed the preservation and/or development of 484 units of affordable housing and the creation of 24,333 square feet of commercial space dedicated to supporting individuals and households with low incomes. Parallel, it supports programs to empower low- and moderate-income community members in realizing their full potential. United used a variety of traditional and innovative financial tools to support the work of Jubilee Housing including investments in two affordable housing impact funds, donations and sponsorships to Jubilee events and celebrations, community development lending and volunteer service. This partnership has allowed Jubilee Housing to make meaningful gains in retaining affordability in the neighborhood, while changing the lives of individuals and families. This work slows — or even reverses — the displacement of families who have called these historic neighborhoods home for decades.