Dear friends,

We've been thinking a lot about gentrification recently. Gentrification has greatly impacted Capitol Hill over the past several years. Some effects have been positive, such as increasing density and economic investment in the area. However, many people in the community are not benefiting from these changes because they are being pushed out by the lack of affordability. Most of the community's workforce would have to work more than two full-time jobs to pay current market-rate rents on Capitol Hill - that's far from affordable.

In addition to Capitol Hill, we have been working in the Central Area for decades. Recently we acquired a 60-unit apartment building at 17th and Jackson and have been in the process of purchasing the former Liberty Bank building at 24th and Union. We've been thinking about gentrification and displacement in the Central Area and the racial undertones that add to the complexity of the issue.

We build affordable housing, but our true mission is to build vibrant and engaged communities. When we get involved at a place like 24th and Union, it's not just to erect a building; it's to help the community achieve their goals. We've been working with the Liberty Bank Advisory Board to identify the most appropriate ways to honor the legacy of the bank and we will hear their final recommendations next month. In May, we'll be holding our community forum in the Central Area and having a frank and open conversation about the changing face of the community. We hope you will join us.