Awarded through the Community Development Financial Institutions (CDFI) Fund, the Capital Magnet Fund helps low-income families and economically distressed communities by attracting investment for affordable housing and related economic development. This CMF Award provides a significant source of capital to directly fund more justice housing to the District of Columbia.
116 organizations applied for this grant, but less than a third received awards.
“We’re proud and grateful to win this incredibility competitive grant.” said Jim Knight, Jubilee’s Executive Director. “This award allows us, in a year when we are already pursuing development on two buildings, to build even more deeply affordable housing for our city to ensure that everyone, even those with the least resources, can thrive!”
Read more about the Capital Magnet Fund and its awardees here.