AHC Inc. is a nonprofit developer of affordable housing that provides quality homes and education programs for low- and moderate-income families in the mid-Atlantic region. Based in Arlington, VA, AHC has developed more than 5,300 apartment units in 39 properties in Virginia and Maryland since 1975. AHC also offers a variety of services to help families thrive and succeed. AHC’s Resident Services program, which reaches more than 2,000 individuals each year, received HAND’s Best Community Life Program award in 2010. AHC also provides home ownership and home improvement programs to families and individuals with limited incomes. In 2012, AHC initiated, preserved or opened five affordable housing projects, providing nearly 1,200 new or renovated apartments to the mid-Atlantic region. Located in four different jurisdictions in Maryland and Virginia, the projects represent a wide spectrum of development strategies, including creative site assembly, timely preservation of at-risk apartments, neighborhood revitalization, and innovative financing.  Congratulations AHC!

Founded in 1950, 1415 Girard Street Cooperative has a rich history as the first African American cooperative in DC, and has become a staple of the Columbia Heights community. Faced with numerous vacant units in need of repair and negative cash flow, the cooperative looked to City First for help.  City First worked with the cooperative’s leadership team to refinance, renovate, and reposition the building to ensure a sustainably successful future. The partnership with City First likely saved the cooperative from bankruptcy or sale, which in either case would have displaced the current resident owners and lost a long-term affordable property to the market. Congratulations to Girard Street Cooperative and City First Homes!

On March 7, 2011, the Prince George’s County Department of Housing and Community Development (DHCD) launched the My HOME program for first time homebuyers.  This exciting program uses funding provided by the federal HOME Investment Partnership Program (HOME) to  provide homeownership assistance to low and moderate income buyers to purchase residential properties anywhere in Prince George’s County, MD. In order to minimize the likelihood that the home will subsequently go into default or foreclosure, the My HOME program also has underwriting standards regarding maximum monthly debt burden, refinancing, and a prohibition for adjustable rates and balloon payment mortgages.  The My HOME Program is implemented in partnership with over 50 participating lenders, the Prince George’s County Association of Realtors and HUD certified housing counseling agencies. Congratulations to the My HOME Program!