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Success Stories

“OpenDoor has proven to be an approachable and accessible lender
that understands the social value of the investments they have provided to us.”

Borrower
Mosi Harrington, Executive Director
Housing Initiative Partnership, Inc.

Take a look at some of our most recent success stories:

Borrower: SOME, Inc.—a private, non-profit organization dedicated to helping the poor and homeless in our nation's capital.
Location: Washington, DC
Description: SOME, Inc.The lack of affordable housing in the District of Columbia is a leading cause of homelessness. SOME has provided decent, affordable housing to low-income and homeless single adults and families for over 16 years. In order to continue their ardent search for existing multi-family buildings or open land, it is important for SOME to have on-going relationships with reliable lenders who share their objectives.

Over the past 5-7 years, OpenDoor has proven to be an efficient, reliable lender for low interest, short term acquisition loans, as a participant in the DC Site Acquisition Financing Initiative. These short-term loans have quickly provided valuable resources so that SOME has time to acquire more permanent financing.
 

 

Borrower: Montgomery Housing Partnership, Inc (MHP)— a non-profit organization composed of private citizens, representatives from the business, real estate and banking communities, religious and civic groups, and residents of MHP-owned housing working together to strengthen neighborhoods through housing and community revitalization.
Location: Silver Spring, MD
Description: Silver Spring rejuvinationThe Montgomery Housing Partnership recently closed on its third loan with OpenDoor. Using special funding received through the State of Maryland’s Community Legacy program, OpenDoor was able to provide MHP with a seven year low-interest loan to renovate and stabilize 16 apartments in rapidly revitalizing downtown Silver Spring.
 

 

Borrower: Housing Initiative Partnership, Inc. — a nonprofit developer based in Prince George‚Äôs County, Maryland, dedicated to revitalizing neighborhoods.
Location: Prince Georges County, MD
Description: Montgomery Housing Partnership, IncOpenDoor provided a line of credit, which enabled HIP to acquire and rehabilitate single family homes.
 

 

Borrower: 1106 Columbia Road NW Cooperative Inc.— a non-profit, tenant association with memberships established pursuant to the District of Columbia Cooperative Association Act.; description: OpenDoor provided construction and related expenses associated with the redevelopment and condo conversion of the existing 40-unit rentals. Preserving and upgrading the apartments to condominiums permits tenants to stay in their homes and become first time homeowners.
Location: Washington, DC
Description: Columbia RoadOpenDoor provided construction and related expenses associated with the redevelopment and condo conversion of the existing 40-unit rentals. Preserving and upgrading the apartments to condominiums permits tenants to stay in their homes and become first time homeowners.
 

 

Borrower: Arlington Partnership for Affordable Housing— a private, non-profit organization founded in 1989 and dedicated to providing safe, decent affordable housing opportunities to low-and moderate-income familiers and individuals in Arlington County, VA.
Location: Arlington, VA
Description: Cameron CommonsOpenDoor Provided APAH with gap financing for a multifamily rehabilitation project and construction of townhouse units to provide affordable housing in High View Park neighborhood.

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