Strategic Financing Lays Foundation for Community-Led Revitalization in Ward 8

City First Enterprises (CFE) Helps Launch $54M Redevelopment Project in Historic Anacostia

City First Enterprises (CFE) is proud to announce the closing of a $4.6 million bridge and acquisition loan in partnership with Partners for the Common Good, catalyzing a transformative $54 million mixed-use redevelopment project in Washington, DC’s historic Anacostia neighborhood.

Project Highlights:

• 145 affordable apartment units for approximately 376 residents earning 50–80% of the Area Median Income (AMI).
• 12,000 square feet of retail space, designed to activate the corridor with local businesses and commerce.
• A community laundromat operated by Civic Suds, offering wraparound services in literacy, health, financial education, and digital fluency.

This strategic investment supports DC’s affordable housing goals, while fostering local entrepreneurship, job creation, and community-led development. By integrating housing, services, and retail, the project supports longtime Anacostia residents and enhances neighborhood vitality. Through early-stage acquisition financing, CFE is laying the groundwork for lasting, equitable growth in Ward 8.

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About City First Enterprises

City First Enterprises (CFE) is a certified CDFI (Community Development Financial Institution) specializing in flexible lending for affordable housing, commercial real estate, small businesses, non-profits, and clean energy projects. With a mission to create equitable financial solutions to support people and communities in achieving their economic aspirations, we envision a future where all individuals and communities thrive through equitable access to capital. Additional information about CFE’s lending can be found at www.cfenterprises.org