Truist Bank has donated the former SunTrust Bank branch and adjacent plaza at the corner of Columbia Road and 18th Street NW in Adams Morgan to nonprofit , clearing the way for development of affordable housing on the prominent site.
The plaza, considered public space by residents in the neighborhood, has long been subject of controversy over potential development plans. SunTrust agreed to sell the site to developer Hoffman & Associates in 2016, but protests by neighborhood activists and legal challenges eventually stalled any progress.
鈥淲e are so pleased to receive this extraordinary donation and look forward to doing a full assessment of the property and existing structure, as well as engaging in a thoughtful community dialogue as we determine the best use for the property and advance Jubilee鈥檚 mission,鈥� said Jim Knight, president and CEO of Jubilee Housing.
D.C.-based Jubilee has developed and manages affordable housing communities in mixed-income neighborhoods in the District. It says its services support 900 residents.
Two-thirds of its apartments are available to households earning 30% below the area median income, and one-third of its homes are available for households earnings 60% of area median income or below.
The nonprofit also provides early childhood education and after-school and summer programs.
It currently manages 464 apartments and has 120 others in development.
