CDFI New Jersey Community Capital $3.5M backs preservation of affordable housing in D.C.

New Jersey Community Capital, a community development financial institution (CDFI), has announced a $3.5 million investment in a pair of 118-unit workforce housing developments in Washington, D.C., to preserve long-term housing affordability. Made in partnership with Capitol Rock Partners and financed by Hingham Institution for Savings, the funding will maintain the properties under the D.C.’s rent control protections, helping keep rents affordable without displacing current residents. The mission-aligned financing supports the acquisition and stabilization of naturally occurring workforce housing in a supply-constrained market, reinforcing long-term neighborhood stability while expanding flexible capital for affordable housing preservation.