DC Green Bank, The Community Preservation Corporation (CPC), American Housing, Amazon, and J.P. Morgan announced the closing of $26.7 million in construction financing for energy-efficient upgrades to Townley Court, an affordable housing complex at 2315 40th Place NW in Washington, D.C.

The loan will fund renovations to fully electrify 52 affordable homes and add solar panels, electric vehicle charging stations, and energy-efficient building upgrades. The upgrades are estimated to cut both utility costs and greenhouse gas emissions by nearly 10%. The project is also expected to create dozens of jobs.

The Townley Court affordable housing development is expected to achieve Enterprise Green Communities Certification, one of the highest building standards for energy-efficient affordable housing in the country. The full renovation will include adding seven additional apartments to the building’s 45 units.

CPC brought together DC Green Bank and J.P. Morgan to deliver $15.7 million in combined financing for the project. Additional financing includes $5.2 million from Amazon, $5.8 million from American Housing, and a $15.695 million Freddie Mac TAH Forward Commitment arranged by CPC Mortgage Company.