National Nonprofit Pledges $50 Million to Stop Gentrification in SE DC
The Local Initiatives Support Corp. has pledged $50 million to Stop Gentrification and Displacement east of the Anacostia River
According to the Washington Post, the Local Initiatives Support Corporation, a nonprofit organization that has been investing in DC Neighborhoods since the early 80’s, has committed to donating $50 million to stop gentrification and displacement in the Anacostia neighborhoods east of the River.
Local Initiatives Support Corp., according the Post, is a nonprofit organization responsible for supporting DC projects such as the Atlas Performing Arts on H Street, the Town Hall Education Arts Recreation Campus (THEARC) and an Anacostia jobs training center featuring Busboys & Poets that is still under construction.
The $50 million pledge is in response to the plans to build the $45 million 11th Street Bridge Park by 2018. The Park will cross the Anacostia River and has many residents upset and expressing concerns due to fears of gentrification and displacement.
Oramenta Newsome, president of the D.C. office of Local Initiatives Support Corp., gave this quote to the Washington Post:
“(She is) convinced not only that the bridge would get built but that it would usher dramatic change into poorer neighborhoods east of the river by hastening investments from developers.”
According to Newsome, the money provided by Local Initiatives Support Corp., will be used to support groups providing affordable housing, early childhood education, medical care, food support, arts education and other services in the area near the park site to ensure that poorer residents are able to remain in the communities should a wave of development arrive.
The Local Initiatives Support Corp, according to the Post, is planning to seek proposals from community groups interested in receiving grants or loans.
Newsome summarized her comments in the Post with this quote:
“What we’re trying to do is first of all send a message that it does matter, that we have to be conscious and deliberate to improve our quality of life in these neighborhoods and make sure that people with modest incomes have a fighting chance to stay and remain there and enjoy all the goodies that are on the way like the Walgreen’s that is coming, the Busboys & Poets that is coming,” Newsome said.
Leave us some comments below and tell us what you think…