JBG Smith Achieves Goal to Preserve 3,000 Housing Units With Washington Housing Initiative Impact Pool

JBG SMITH (NYSE: JBGS) today announced that the Impact Pool, the affordable housing investment platform it manages, has helped create and preserve more than 3,000 units of quality workforce housing across the Washington region since 2020, outpacing its goal to deliver 3,000 units by 2025 and with capital remaining to invest in additional units.

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Franklin Apartments, a 185-unit age-restricted housing community in Takoma Park, MD (Photo: Business Wire)

“The Impact Pool has surpassed what we set out to achieve – the creation and preservation of affordable homes for thousands of workers in communities throughout the Washington region, and we are proud to have reached our goal ahead of schedule and with additional funds to continue our efforts,” said AJ Jackson, EVP of Social Impact Investing at JBG SMITH. “This is a moment of celebration and provides impetus to keep going. Investing at scale allows us to have a meaningful impact, and this milestone reinforces our commitment to preventing displacement and preserving affordability in rapidly changing neighborhoods vulnerable to rising housing costs. Consequently, we plan to continue to finance workforce housing through other vehicles even after the Impact Pool’s funds have been fully deployed.”

The 3,000+ units include: Parkstone Alexandria (Alexandria, VA) 326 units; Crystal House (Arlington, VA) 825 units; Hamilton Manor (Hyattsville, MD) 245 units; Huntwood Courts (Washington, DC) 214 units; Earle Manor (Wheaton, MD) 140 units; The Gale Eckington (Washington, DC) 603 Units; Loree Grand (Washington, DC) 212 units; Falkland Chase (Silver Spring, MD) 268 units; Franklin Apartments (Takoma Park, MD) 185 units.

Launched by JBG SMITH in 2019, the Impact Pool is a key component of the Washington Housing Initiative (WHI) created by JBG SMITH and the Federal City Council. The Impact Pool, managed by a subsidiary of JBG SMITH, leverages private capital to help combat the loss of housing for middle-income families. The Impact Pool works with non-profit and for-profit mission driven sponsors to acquire privately owned and unsubsidized housing that’s affordable to everyday working households, lock in affordability, invest in the buildings, and operate them using strategies designed to stabilize residents rather than push rents.