By: Jillian S. Jarrett
Level 2 Development has donated $1 million to the Sankofa Tenants Association for assistance in purchasing the Cresthill Apartment building, 1430 Belmont St. NW.
The 48-unit building provides affordable housing to district families. Funds will also go toward renovating the 1920s building. Planned improvements include appliances, heating and cooling systems and cosmetic repairs.
Cresthill tenants organized the association and made an effort to purchase the building as a co-op to keep it affordable and low income. David Franco; principal of Level 2 Development, said it donated the funds after learning that the affordability period for Cresthill had expired and that the building had to be sold.
"We are humbled by the opportunity to assist the Sankofa Tenants Association in making their affordable housing home ownership a reality," Franco said.