Since 1992, Mi Casa has created and preserved affordable housing by renovating and selling single-family homes to low-income families, supporting tenant groups in their efforts to purchase and rehabilitate their buildings, and by providing affordable rental housing. Mi Casa has prevented the displacement of over 1,000 people who are now first-time homeowners, and empowered hundreds of tenants to exercise rights to purchase, renovate, and preserve their affordable homes in the Washington, DC metro area.
Mi Casa is protecting the rights and affordability of the 4040 8th Street property by purchasing and redeveloping the apartment building using $7,000,000 of DC Department of Housing and Community Development (DCDHCD) and Low Income Housing Tax Credit funding. Mi Casa approached National Housing Trust to provide a short-term bridge loan of $2,430,000 to purchase the apartments.
Partners for the Common Good, along with City First Enterprises, collaborated with the National Housing Trust to provide the acquisition loan capital, enabling Mi Casa to quickly secure the property while it finalizes permanent financing through the DCDHCD.