The Rose Green Cities Fund has purchased an affordable housing complex in a gentrifying area of D.C., not to capitalize on rising prices but to protect affordable ones. Unlikely, you say? The Fund's mission is to preserve affordable housing.
"Jonathan Rose, president and founder of the Rose company, said that because of the escalating costs of housing in the Washington area, he made it one of four markets in which to focus his efforts on building and preserving affordable housing," writes Jonathan O'Connell. "The others are Chicago, Newark and Connecticut’s Fairfield County."
The Rose Green Cities Fund's first venture in the D.C. market is the 223-unit Channel Square Apartments, near where luxury apartment buildings are rising in the burgeoning Southwest quadrant of the city. They've planned a number of energy and environmental upgrades for the complex.
"In the long term, Rose said, 51 percent or more of the units would be set aside for families making below the area median income, although he said the exact formula has not been decided upon. 'There are already a number of families and lower-income households there. Our number one goal is to keep all of those families in the building,' Rose said."
"Can the developers make money if they renovate the building and keep most of the tenants in place?" asks O'Connell. "Rose said that the mission-oriented Green Cities Fund aims for a 8 to 12 percent return over a six-year period, a lower return than what many for-profit developers expect."
FULL STORY: Developers purchase Channel Square Apartments in SW, plan ’green’ renovations

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Vehicle-related Deaths Drop 29% in Richmond, VA
The seventh year of the city's Vision Zero strategy also cut the number of people killed in alcohol-related crashes by half.

As Trump Phases Out FEMA, Is It Time to Flee the Floodplains?
With less federal funding available for disaster relief efforts, the need to relocate at-risk communities is more urgent than ever.

Data: In Rural America, Mobile Homes are Heat Traps
Extreme heat is often viewed as an urban problem, but rural communities face their own unique risks.

NYC: What Mamdani’s Rivals Can Teach Him About Transportation
The mayoral candidate won on a bold, progressive platform. Some of his opponents had even bolder ideas.

Berkeley Approves ‘Middle Housing’ Ordinance
The city that invented single-family zoning is finally reckoning with its history of exclusion.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Heyer Gruel & Associates PA
JM Goldson LLC
Custer County Colorado
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Camden Redevelopment Agency
City of Claremont
Municipality of Princeton (NJ)