LEO Impact Capital, JBG SMITH’s workforce housing investment management platform, said the Impact Pool, an investment vehicle it manages, made a preferred equity investment in Haven Columbia Pike. The investment will preserve the affordability of all 118 apartments at the property, a garden-style residential community located at 805 S. Florida St. in Arlington, VA and owned by Insight Property Group.
LEO’s investment allows Insight to recapitalize the property, fund significant capital improvements and dedicate 118 units to workforce housing for families earning 60% or less of Area Median Income (AMI) – roughly $88,500 – in one of the country’s most expensive areas.
“The Impact Pool’s reach has exceeded our expectations, creating and safeguarding more than 3,100 units of affordable workforce housing for families and workers throughout the Washington area,” said AJ Jackson, president of LEO Impact Capital. “Scale matters when tackling housing challenges. Our strong partnerships and thoughtful investment approach are unlocking access to opportunity for residents, communities, and investors.”
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