By 2025, Washington, D.C., needs to add 36,000 new units of housing.
Our city’s population is the highest it has been in four decades. Amazon is on its way to the region. And stemming the displacement of longtime residents, especially residents of color, continues to be one of our city’s most pressing challenges.
When I first came into office, I doubled the District’s annual commitment to our Housing Production Trust Fund to $100 million a year — more per capita than any other jurisdiction in the nation. And we didn’t just squirrel it away — we got the money out the door and into projects that helped us build or preserve more than 7,200 units of affordable housing in four years.
But to meet our housing goals, we have to continue to think bigger and bolder.
In my most recent budget proposal, I increased our investment in the trust fund to $130 million. I also increased our investment in our Housing Preservation Fund to $15 million, which will leverage an additional $45 million.…Read the full story from the Washington Business Journal.