Not the nuns you grew up with

One of the keys to Manna's success over the years has been the Capstone Fund. The Capstone Fund is Manna's revolving loan fund that provides working capital for Manna's many projects. The Fund largely consists of low interest loans (0-3%) from socially responsible investors, individuals, foundations churches, and many religious orders. Nuns have always served a vital role in communities across the world- helping to feed and clothe the poor, nurse the sick and educate children.  These days they're doing all of that and putting their money where their mouth is.  Currently, Manna has 5 different orders of sisters (aka nuns) with loans in the Fund. 

One such order is the Sisters of St. Francis of Philadelphia.  Apparently, not only are they interested in socially responsible investing but, as I discovered reading on NPR's website today, hold shares in McDonalds and are using their status as shareholders to ask the company what it is doing about childhood obesity.  And as part of the Interfaith Center on Corporate Responsibility, the order is also working to ensure that BP is held accountable for the effects of last year's oil spill.  These women are dedicated to maintaining the the core virtues of their religious life but using 21st century tools to get the job done.

At Manna, we have been lucky and blessed to have the support of all our Capstone Investors.  Apparently we aren't alone!

Gratitude for all of those helping to make Anacostia a great place to live

Yesterday we included this video in our post, because it featured a graduate of Manna's HomebuyersClub.

Afterwards, I kept thinking about all of the individuals featured in the piece and how just by choosing to live in Anacostia they are making it a better place for everyone.  For much of Manna's 29-year history, that has also been the story for our homeowners.  We were in Shaw and U Street before they were the hip places to be (see the Whitelaw and Victory Way) and we were in Southwest before there was even a thought about a stadium (check out Manna's biggest project to date, Syphax Village).  Not only were we selling these families homes, we were selling them a vision of what these communities could be.

This continues to be a part of Manna's work.  We recently started construction on the Bexhill Condominium in Ivy City, one of the city's most deteriorated neighborhoods.  Nine of the 20 units available are currently under contract, in part because these individuals and families share our vision that Ivy City can once again become a vibrant community.  Later this summer, Manna will begin construction on the Buxton Condominium in Anacostia, rehabbing vacant buildings into 24 affordable condominiums.  Thanks to the individuals featured in this video and to all of those who are working to ensure that Anacostia is a diverse and vibrant community, they are making our job a little easier.

HBC Grad Returns to Share her Experience

Special thanks to Manna Homebuyers Club graduate, Nikki Peele, for sharing her homebuying experience at last week's HomebuyersClub (HBC) General Meeting.  Nikki talked about her experience in the HomebuyersClub and how it helped prepare her for homeownership and serving as president of her condominium association board. Especially when it comes to knowing and understanding an association's governing documents (aka condo docs) and condo fees.

Nikki also stressed the importance of knowing what is the right purchase for you.  Nikki knew she wanted a home with little outdoor maintenance required, so a condo fitted her needs exactly.  For HBC Director Willamena Taylor, Nikki's sentiments helped reinforce many things they stress to the members of the HBC- "For us, it helped reinforce what we talk about.  You start where your money can take you.  For many a condo is a great first home purchase that can eventually to that single family home."

You can check out Nikki here in this youth-produced short film on the community of Historic Anacostia as part of DCCAH's Media Arts Camp through the Summer Youth Employment Program.