Contact Information

Jeff Goldberg
Live Wire Media Relations, LLC
703-519-1600 Ext. 103
jgoldberg@livewiredc.com

WASHINGTON HOUSING CONSERVANCY LAUNCHES

WITH ESTEEMED BOARD AND $12.5 MILLION IN DONATIONS
An Innovative, Community-Oriented Approach to Address Affordable Workforce Housing Needs
in the Washington DC Region

WASHINGTON, D.C. (April 24, 2019) --- Rising rents and a shortage of affordable, well-located housing has
put increased pressure on working Washingtonians. As the region prospers, it is critical that all members
of the community are able to benefit from its growth. With a vision of increasing shared prosperity and
combating displacement through the preservation and creation of workforce housing opportunities, the
Washington Housing Conservancy is pleased to announce its official launch with the appointment of its
inaugural board and a total of $12.5 million in secured donations.

The Washington Housing Conservancy (WHC) is part of the larger Washington Housing Initiative (WHI),
launched last year by the Federal City Council and JBG SMITH. The Washington Housing Conservancy is an
independent non-profit corporation whose mission is to preserve and create affordable workforce
housing in economically integrated communities. WHC will work with community members, local non-
profits, civic organizations, service providers, and governmental agencies to foster dynamic and
connected communities responsive to the needs of working families across the Washington region.

“There are several organizations and providers working in the Washington, DC region to address specific
issues facing struggling working families and individuals,” said Josh Bernstein, President and CEO of
Bernstein Management Company and Chair of the Stakeholder Council that will advise the Washington
Housing Conservancy. “Through the Washington Housing Conservancy, we hope to collaborate with many
of these extraordinary individuals and organizations to allow residents to access needed services and
amenities within their own neighborhoods.”

Washington families need to earn more than $100,000 to afford the average two-bedroom apartment.
Increasingly, there is not enough housing for working families – especially in neighborhoods that provide
essentials such as transportation, child care, healthcare, and healthy food. The Washington Housing
Conservancy’s goal is to leverage private dollars in a new way so that those earning too much for
subsidized housing but too little for much of the region’s housing can afford to remain a part of the
communities they serve.

“The DC region has seen tremendous change over the years, with the pace and cost of development only
continuing to accelerate. It is essential to create opportunities in rapidly changing areas that enable
workers to remain in historic communities that allow them proximity to their workplace,” said Charlene
Drew Jarvis, Emerita member of the Federal City Council and board member of the Washington Housing
Conservancy. “Through the Washington Housing Conservancy, we hope to create connected communities
among residents both within the Conservancy’s properties and in the surrounding neighborhood that not

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 Contact Information
Jeff Goldberg
Live Wire Media Relations, LLC
703-519-1600 Ext. 103
jgoldberg@livewiredc.com

only respond to working people’s needs, but foster relationships and partnerships between people of
different economic and racial background against the evolving backdrop of Washington, DC.”

The Washington Housing Conservancy has raised $12.5 million to date in commitments from foundations,
individual donors, and corporate partners. This represents more than 40 percent of the initial fundraising
target of $30 million, which would allow the WHC to maintain affordability for 3,000 housing units on a
long-term basis with no requirement for ongoing subsidies.

Through the Washington Housing Conservancy’s unique model, $9 of private capital can be leveraged for
every $1 of philanthropic capital. Each dollar contributed to WHC generates between $20 and $40 in
impact over 40 years

“We want to create workforce housing communities that are more than just building complexes,” said
Kevin Clinton, COO of Federal City Council, a non-profit comprising the area’s top business, professional,
educational and civic leaders, and Interim Executive Director of the Washington Housing Conservancy.
“We plan to partner with local organizations to bring quality childcare, health care as well as education
and wellness resources as integrated parts of the housing community.”

The Washington Housing Conservancy’s board is led by business, community and civic leaders with deep
and diverse skills and experiences. The inaugural board includes:

 Josh Bernstein, President and CEO, Bernstein Management Company

 Charlene Drew Jarvis, Emerita member, Federal City Council
 Kevin Clinton, COO, Federal City Council
 Cary Hatch, CEO, MDB Communications
 Carol Thompson Cole, President & CEO, Venture Philanthropy Partners
 Tamara Copeland, Former President, Washington Regional Association of Grantmakers
 Marc Katz, Chair, Arent Fox
 Rob Stewart, Executive Vice Chairman, JBG SMITH Properties
 John Gardner, Former President, Buvermo Investments, Inc.

For more information on the Washington Housing Conservancy, please visit the newly launched website
at www.washingtonhousingconservancy.com.

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 Contact Information
Jeff Goldberg
Live Wire Media Relations, LLC
703-519-1600 Ext. 103
jgoldberg@livewiredc.com

About the Washington Housing Conservancy

The Washington Housing Conservancy is an independent 501(c)(3) non-profit organization and long-term steward
dedicated to preserving and sustaining affordable workforce housing opportunities in the Washington, DC metro
area. The organization is on the front lines in the community, interfacing with both the residents and service
providers, to combat the displacement of today’s workforce. The Washington Housing Conservancy is the human
face and service-oriented outlet of the Washington Housing Initiative. For more information please visit
www.washingtonhousingconservancy.org

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