What Happens When DC Entrepreneurs Stop Renting—and Start Owning?

Stories of Impact

For business owners, owning the space they operate in can be transformative. It provides stability instead of uncertainty, investment instead of rent, and a foundation for building long-term wealth rooted in the community.

At City First Enterprises (CFE), this belief drives everything we do—and it’s at the heart of our role as grant administrator for the Commercial Property Acquisition Fund (CPAF), a program of DC’s Deputy Mayor for Planning and Economic Development (DMPED).

This video brings CPAF to life through the experiences of entrepreneurs who have turned the dream of property ownership into reality. Their stories reflect the diversity, resilience, and ambition of DC’s small business community. Beyond purchasing buildings, CPAF helps preserve legacy businesses, create jobs, build wealth, and strengthen neighborhoods—one business at a time.

What is CPAF and Why Does It Matter?

The Commercial Property Acquisition Fund (CPAF) helps local business owners purchase the buildings they operate in through down payment assistance grants. CPAF empowers entrepreneurs to anchor their businesses, build wealth, and contribute to the neighborhoods they serve.

Since its launch, CPAF has supported 34 entrepreneurs in acquiring over $60 million in commercial property across all eight wards of the District. These businesses collectively generate more than $55 million in annual revenue, creating and supporting nearly 600 jobs.

The program serves a wide range of industries—from technology and professional services to food and beverage, personal care, healthcare, and retail. At its core, CPAF is about ownership, opportunity, job creation, and keeping local businesses rooted in their communities.