For media inquires contact:
Candace Tyler
ctyler@jubileehousing.org

Washington, D.C. – August 29, 2018 – Non-profit developer Jubilee Housing, Inc. announces a new acquisition in the heart of the Adams Morgan neighborhood. The property, which is located at 1724 Kalorama Road NW, is a vacant commercial building comprised of 22,000 square feet and will be renovated into a five story mixed-use building offering affordable multi-family housing and valuable community services.  

The Kalorama property has been vacant for quite some time. The acquisition, which is being financed by United Bank, LISC DC and Justice Housing Partners, LP, positions Jubilee Housing to return the property to use as a valuable community asset. Two-thirds of the approximately 25 units will be developed into two and three bedroom units addressing a citywide need for family-size apartments.  In addition, two-thirds of the units will be dedicated to families earning at or below 30% of the area median income – $35,150 for a family of four – the income level of families who are most rent burdened in the District. This is the first of several new buildings the non-profit developer is planning to acquire in the near term.

In addition to deeply affordable housing, the building will dedicate approximately 10,000 square feet for onsite family services. 1724 Kalorama Road NW is located near Jubilee Housing’s partner organizations, including Jubilee JumpStart, Mary’s Center and the Sitar Arts Center. There is also a full service grocery store across the street from the property.

“We are thrilled to be able to convert this long vacant property into the next justice housingSM community. As we think about the future of our city, nothing is more important than the building out of justice housing – deeply affordable housing, nearby and onsite services in thriving neighborhoods – that will increase equity for all families and transform our city,” said Jim Knight, Jubilee Housing’s executive director.

It is estimated that construction will start on the Kalorama property in late 2019 and be completed early 2020.