Strong communities and neighborhoods center around a key factor: safe, affordable housing. That’s why EagleBank has contributed $5 million to the Washington Housing Initiative Impact Pool, which aims to provide hard-working DC-area residents with homes that they can comfortably afford.
Together with the Washington Housing Conservancy, the Washington Housing Initiative Impact Pool forms part of the Washington Housing Initiative (WHI), kicked off in 2018 by JBG SMITH and the Federal City Council. WHI’s mission is to provide affordable workforce housing options to DC-area residents making too much to qualify for traditional affordable housing programs, but too little to easily afford a place in DC’s expensive housing market. EagleBank joins many other financial institutions in support of this effort.
“The work being done by WHI complements the mission of EagleBank in fostering inclusivity, building local neighborhoods and sustaining our local economy,” said Susan Riel, President and Chief Executive Officer of EagleBank.
As a community bank, EagleBank regularly champions local affordable housing initiatives, so its participation in this program was a natural fit. In DC, EagleBank partners with Mayor Muriel Bowser to help government employees buy homes in the District with the “Work in DC, Buy in DC” program, and also recently partnered with financial services company Landed to help educators purchase homes. And further north in Gaithersburg, EagleBank worked with the city to develop the Gaithersburg Heroes program to help teachers, police, firefighters, and first responders find a place to call home as well.
“EagleBank’s commitment to the Washington Housing Initiative is a perfect example of a local institution investing in the successful future of the community which they serve,” said AJ Jackson, Executive Vice President of Social Impact Investments at JBG SMITH. “The preservation of affordable housing ensures that the local workforce can live locally creating a healthy economy, vibrant communities, and diverse neighborhoods throughout the region.”
EagleBank is an Equal Housing Lender and Member FDIC. NMLS# 440513