Embolden Real Estate, in collaboration with The NHP Foundation, has successfully acquired The Amelia and Paul property in Washington D.C. and redeveloped it into affordable housing known as The Bobbi. This $9.05 million acquisition was made possible through the support of Capital Impact Partners and an Amazon grant.
As per DC’s Tenant Opportunity to Purchase Act, Embolden was selected by the Tenants Association to revamp the 23-unit building. Renovations are currently underway to modernize the property with upgraded amenities such as a library, fitness center, and sustainable features that are expected to be completed by Q4 of 2025.
According to Ronnie Slamin, founder and principal of Embolden: “Partnering with NHPF’s experienced team for this project aligns perfectly with our mission at Embolden – converting at-risk rent-controlled units into 100% affordable mixed-income homes while ensuring long-term affordability in this desirable neighborhood.”
