Founded in 1950, 1415 Girard Street Cooperative has a rich history as the first African American cooperative in DC, and has become a staple of the Columbia Heights community. Faced with numerous vacant units in need of repair and negative cash flow, the cooperative looked to City First for help. City First worked with the cooperative’s leadership team to refinance, renovate, and reposition the building to ensure a sustainably successful future. The partnership with City First likely saved the cooperative from bankruptcy or sale, which in either case would have displaced the current resident owners and lost a long-term affordable property to the market. Congratulations to Girard Street Cooperative and City First Homes!
