**Amazon-Backed DC Housing Project Secures $26.7 Million in Financing for Energy-Efficient Upgrades**
DC Green Bank, The Community Preservation Corporation (CPC), American Housing, Amazon, and J.P. Morgan have announced the closing of $26.7 million in construction financing aimed at energy-efficient renovations for Townley Court, an affordable housing community located at 2315 40th Place NW in Washington, D.C.
The funding will support comprehensive upgrades that include full electrification of 52 affordable housing units, the installation of solar panels, electric vehicle charging stations, and a range of other energy-efficient improvements. The sustainability-focused renovations are anticipated to reduce both utility costs and greenhouse gas emissions by nearly 10%, while also stimulating local economic activity through the creation of dozens of jobs.
Once complete, the Townley Court redevelopment is expected to achieve Enterprise Green Communities Certification, a leading national standard for sustainable and energy-efficient affordable housing. Additionally, the project will expand the complex’s total capacity by adding seven new apartments to the existing 45 units.
The financial structure of the project was made possible through a collaborative effort led by CPC, which partnered with DC Green Bank and J.P. Morgan to provide $15.7 million in combined financing. The remaining funding includes $5.2 million from Amazon, $5.8 million from American Housing, and a $15.695 million Freddie Mac TAH Forward Commitment, arranged by CPC Mortgage Company.
This multi-partner initiative represents a significant investment in both sustainable development and long-term affordable housing in the nation’s capital.
