Building a Community of Opportunity in Southeast D.C.

In 2024, more than 18,000 young people aged out of the foster care system, leaving many of these youth between the ages of 18 and 23 without a family to help support or guide them.

In Southeast Washington, D.C., some of those at-risk youth have a new opportunity to prepare for a stable future at Wayne Place II.

Partnering with Optigo^® lender PNC Bank, Freddie Mac Multifamily helped finance a $2.9 million fixed-rate loan secured by a first lien for Wayne Place II. Additionally, a master lease agreement between the sponsor MED Developers and the District of Columbia Department of General Services preserves 28 units for tenants with incomes at or below 30% of area median income, while the remaining six units are market rate. 

Justin Dailey, Freddie Mac senior producer, said, “Housing like Wayne Place is critical. In coordination with our partners at PNC, the sponsor demonstrated a sense of urgency that exemplifies their dedication to our shared mission. The quote process, from submission to application, took just two weeks, and the underwriting process was just as efficient. Ultimately, we were able to achieve a final loan amount that was within 5% of our quoted amount. This is a great example of how we can come up with creative solutions to complicated financing structures when we engage in thoughtful, open dialogue with our partners. We’re able to be efficient and effective in delivering much-needed housing.”

Originally built in 1944, the garden-style apartment complex was rehabilitated in 2015. The property has a laundry room, community center and gardens where events are held, allowing tenants to gather and build community. Tenants also have access to on-site services, including education about employment, money management and life skills.

“When I think back on my 18-year-old self, I had the support of family and a home. Some young people may not have had that growing up — which is why it’s great to be part of a project that’s not only providing a home, but also a sense of community and belonging to help them prepare for a stable future,” said Trevor Tolbert, senior vice president at PNC Bank.

The gardens also offer tenants a welcoming space to connect and learn from the resident gardener, who teaches them how to cultivate roses and harvest vegetables such as tomatoes, cucumbers and eggplants. Throughout Wayne Place II, all gardens are irrigated with rainwater collected from roof cisterns.

Watch this Multifamily Quick Takes video for more details.

We’re proud of the work to support Making Home Possible — and helping young people pave a path for a more stable future.