1415 Girard Street NW Cooperative Association

The 1415 Girard Street Cooperative was established in 1950 to secure permanent affordable housing by converting a rental building into cooperative homeownership. In 1992, with the support of the Development Corporation of Columbia Heights (CDC), the cooperative was restructured and the units were renovated and sold to new owners.  Subsequently, inadequate property management, deferred maintenance and changing demographics helped to push the cooperative toward financial insolvency. Now due to revitalization, the community has become more popular and housing prices are soaring. Last  year, the cooperative received pro-bono legal assistance from the law firm of Greenberg Traurig, who in turn, assisted in identifying a new management company. In an innovative partnership possible because of our unique ownership structure, City First Bank and its affiliate, City First Enterprises, teamed up to provide financing.  City First originated a $490,000 bank loan and an additional $535,000 in the form of a recoverable grant, was provided by City First Enterprises. The funds were used to refinance an existing loan and to renovate vacant units for sale on the open market. The City First financing allows the cooperative to continue operations, balance and diversify its ownership, bring in much needed revenue to the cooperative to support its operations and preserve 20 units of owner occupied affordable housing.


Please be aware that you are leaving www.cityfirstbank.com and will be redirected to a third party web site. City First Bank of DC has no control over information at any third party site accessed. City First Bank of DC makes no representation and is not responsible for the quality, content, nature, or reliability of any linked site. The inclusion of any link does not imply endorsement, investigation, verification or monitoring by City First Bank of DC. In no event shall City First Bank of DC be responsible for your use of a third party site.

Community Impact

Community development is at the very heart of what we do.


Business Wire: City First and Broadway announce merger agreem Read more
Penny Stocks: Trying To Find Penny Stocks To Buy Now? 3 Hitti Read more
The Washington Business Journal: City First Bank to merge wit Read more
The New York Times: Two Black-led banks merge to create a $1 Read more
Bloomberg: City First-Broadway Deal Will Create Biggest Black Read more