A nonprofit launched by JBG Smith Properties (NYSE: JBGS) and the Federal City Council has raised $12.5 million to preserve and create affordable workforce housing in Greater Washington, the organization announced Wednesday.
The Washington Housing Conservancy, which JBG Smith teased almost a year ago, hopes to maintain the affordability of 3,000 units on a long-term basis for renters earning an average of 60 percent of the area median income.
