JBG SMITH’s Impact Pool Surpasses Affordable Housing Goal Ahead of Schedule

In a commendable stride for affordable housing, JBG SMITH has achieved a significant milestone through its Impact Pool, surpassing the ambitious target of creating and preserving 3,000 workforce housing units in the Washington region well before its 2025 deadline. This achievement, which includes notable properties such as Parkstone Alexandria, Crystal House, and The Gale Eckington, among others, demonstrates JBG SMITH’s effective strategy and commitment to combating the pressing issue of housing affordability with tangible results.

AJ Jackson, EVP of Social Impact Investing at JBG SMITH, encapsulates the ethos behind this successful initiative, noting, “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. 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.”

The latest achievement under the Impact Pool’s belt is the provision of $6 million in mezzanine financing to Montgomery Housing Partnership (MHP) for the refinancing of Franklin Apartments, a 185-unit age-restricted housing community. This has not only upheld but enhanced the Impact Pool’s objective, as Jackson further elucidates, “The Franklin Apartments investment is a perfect example of what we sought to accomplish when we created the Impact Pool.”

By partnering with MHP—a non-profit dedicated to providing and managing affordable, quality homes—the Impact Pool cements its role in preserving housing affordability and empowering residents. The collective effort supports MHP’s broad agenda of housing people, empowering families, and bolstering communities, reflecting the powerful synergy between private capital and social responsibility.

The fervor with which JBG SMITH has approached social impact investing illustrates the change-driven leadership that the multifamily industry aspires to emulate. It powerfully underlines the notion that with innovation, strategic collaborations, and a clear mission, real estate entities can profoundly contribute to society’s good – a key message for us all at Multifamily Leadership.

This proactive stance against the backdrop of a potential loss of affordable housing in Montgomery County resonates with the overarching goals of the multifamily sector. It is not just about providing shelter, but about fostering inclusive communities and allowing residents, particularly those aging in place, to thrive in their surroundings.

The Impact Pool initiative’s progress and success are not an end but an inspiring waypoint indicating JBG SMITH’s plans to continue championing the cause of affordable housing. As Multifamily Leadership, we’re watching with keen interest and advocating for continued innovation and investment in such critical social infrastructure.