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Affordable Housing

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Former DC Non-Profit Leader Gets Prison Time For $150K Affordable Housing Embezzlement Scheme Former DC Non-Profit Leader Gets Prison Time For $150K Affordable Housing Embezzlement Scheme
Former DC Non-Profit Leader Gets Prison Time For $150K Affordable Housing Embezzlement Scheme A minister who was the former head of a non-profit organization in Southeast DC is heading to prison taking from the poor and giving to her self while embezzling more than $150,000 from its coffers, federal authorities announced. Rowena Joyce Scott, 71, was sentenced this week to 18 months in prison for a scheme to steal money from a corporation she was entrusted to run which was created to aid some of the District's economically-challenged residents. According to prosecutors, Scott – a minister and the former head of the Ward 8 Democrats – was convicted following a June 2023 jury…

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by Zak Failla
Real Estate
Silver Spring Apartment Complex Sold To Baltimore Affordable Housing Developer In $20M Deal Silver Spring Apartment Complex Sold To Baltimore Affordable Housing Developer In $20M Deal
Silver Spring Apartment Complex Sold To Baltimore Affordable Housing Developer In $20M Deal A Maryland real estate company is paying a pretty penny to improve its foothold in Silver Spring with a new multi-million dollar purchase. Baltimore-based Enterprise Community Development (ECD), a nonprofit owner and developer of affordable homes, has purchased the 87-unit multi-family Parkside Terrace on Easley Street for $20 million (or slightly less than $230,000 per unit), Transwestern Real Estate Services announced. According to Transwestern Executive Vice President Robin Williams, “the property has been well managed by long-term owners allowing ECD and its partners to preserve natura…

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by Zak Failla
News
Amazon Funds $150 Million Affordable Housing Project In Washington DC Amazon Funds $150 Million Affordable Housing Project In Washington DC
Amazon Funds $150 Million Affordable Housing Project In Washington DC Amazon is partnering up with D.C. developers to build over 1,200 affordable housing units — a nearly $150 million project. Half of the units will be for low-income families and many of them will be located in close proximity to a metro station. Amazon's D.C. project, which comes after the company funded housing projects in Prince George's County, Montgomery County, and Fairfax County, will cost the company $147 million in funding. "Through our accelerated program, we're supporting emerging minority developers doing great work in the affordable housing space." Director of the Ama…

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by AJ Goldbloom
News
Baltimore Mayor Dedicates $100 Million To City Housing Initiatives Baltimore Mayor Dedicates $100 Million To City Housing Initiatives
Baltimore Mayor Dedicates $100 Million To City Housing Initiatives Baltimore has taken another big step in combatting housing insecurities and disparities throughout the city. Mayor Brandon M. Scott announced Friday that $100 million in American Rescue Plan Act funding will go toward the city’s affordable housing initiatives and other related projects. This is now the largest allocation of ARPA funds by the mayor for housing and homeless initiatives and brings the total count of money dedicated to tackling housing insecurity to a near $200 million. Today, I announced $100M in ARPA funding to holistically address the issues of vacant properties, ho…

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by David Cifarelli