Impact Stories

Opportunity By 2032, Washington, D.C., will require 100 percent of the electricity used in the city to be renewable – one of the most aggressive clean energy targets in the country. This ambitious goal is predicted to cut greenhouse emissions by 50 percent over the next 12 years. One tool available to electric utilities serving Washington to meet this goal is Solar Renewable Energy Certificates (SRECs). SRECs provide a financial incentive for building owners to …

Partnership spurred $5.5 million in Tri-Cities development since 2017 PETERSBURG, VA (JUNE 22, 2020) – Three years after its successful initial investment, The Cameron Foundation has renewed a $1 million loan and deposit with Virginia Community Capital (VCC), a community development financial institution that makes impact investments throughout the Commonwealth. As the community begins to reopen from the COVID-19 closures, the funds will be deployed into the Tri-Cities and other areas in Cameron’s footprint, supporting …

Arlington Partnership for Affordable Housing (APAH) is a nonprofit affordable housing developer with a focus on both places and people. Founded in 1989 to meet the urgent housing needs in Arlington, they are committed to supporting low-income neighbors across the DC metro region. They offer more than 1,800 apartments and have more than 650 in development to become available within the next three years. As rents outpace income, APAH believes safe and affordable housing provides …

Borrower : J&L Hermes Supply, LLC Where : Virginia Beach, VA Loan Amount : $1.3 million; $200,000 line of credit Project Type : SBA 7(a) Loan   Opportunity After working for Birsch Industries for 23 years – including overseeing the day-to-day operations in the last year – Joshua Hermiz, along with his wife, Laura, wanted to buy the long-term successful business. Founded in 1964, Birsch Industries manufactures and distributes cleaning supplies and office products. The Birsch …

Borrower : Hotel Greene and Greenleaf’s Pool Room Corp. Where : Richmond, VA Loan Amount : $400,000 Project Type : SBA 7(a) Loan Opportunity Updating a historic hotel for modern purposes requires a solid investment. And when you’re converting a portion of such a property – namely, the legendary Hotel John Marshall in Downtown Richmond – into a 13-hole indoor miniature golf course, you need to find an investor who shares your creative vision. The …

Over more than two decades, Robin Miller has made a name for himself and his firm, Miller & Associates, as one of Virginia’s most prolific developers. Focusing on adaptive re-use of historic structures and infill in urban communities, Miller and his team are behind more than $100 million worth of prominent historic tax credit projects and new construction in Richmond’s Jackson Ward, Manchester, and Church Hill neighborhoods, along with properties in Petersburg and Staunton. So …

Borrower : Stevens Woods II Apartments Limited Partnership Where : Courtland, VA (Partnership based in Rockville, Md.) Loan Amount : Up to $1.75 million Project Type : Construction Loan, Low-Income Housing tax credit funding   Opportunity Providing affordable, up-to-date housing is essential in rural communities, such as Courtland, Va. located near the state’s southern border. Stevens Woods II is a well-managed and nearly fully occupied complex, with 10 percent of its rental units reserved for …

Borrower : SS Lofts LLC Where : Danville, VA Loan Amount : $300,000 for renovation; $1,785,000 to purchase the property Project Type : Fixed-term and real-estate loans   Opportunity Revitalization in Downtown Danville has transformed old commercial buildings into new retail and housing complexes. Included in this transformation is the former Smith Seed building, which provides 20 apartment units and two ground-floor retail spaces. Through C&J Properties LLC, owners Jason and Caroline Wilson purchased the …

When individuals or institutions hold deposits at a bank, the money doesn’t have to remain stagnant. “We see the potential for cash deposits to be a catalyst for impact,” says Eli Dalven, Impact Investing Associate at Loring, Wolcott & Coolidge (LWC), a trust office based in the heart of Boston. As a fiduciary, LWC has made a unique commitment to sustainable investing and community development, as one of the first trust offices to offer clients …

Borrower : Housing Families First Where : Richmond, VA Loan Amount : $250,000 Project Type : Line of Credit   Opportunity Since 2001, Housing Families First has helped families experiencing homelessness obtain the tools and resources to find – and maintain – stable housing. Building Neighbors, one of three programs, is designed to place vulnerable families – living in any of Richmond’s family shelters or the streets – in safe, affordable, and permanent homes. Hilliard …