JBG SMITH has launched LEO Impact Capital (LEO), a new investment management platform focused on acquiring, operating, and preserving middle-income housing in rapidly growing neighborhoods. LEO aims to build on the track record of JBG SMITH’s Washington Housing Initiative Impact Pool, consolidating its impact investment activities.  

Since its inception in 2018, the Impact Pool has invested approximately $115 million to create and preserve over 3,000 housing units in DC, Maryland, and Virginia. LEO is looking to address the housing affordability crisis for “missing middle” Americans—workers like teachers, nurses, and firefighters who earn too much to qualify for subsidies but struggle to afford market rents.  

“LEO will benefit from a team of dedicated and experienced professionals focused on investing in and operating affordable workforce housing while generating fee income for JBG SMITH and strengthening its relationships in local communities,” said JBG SMITH CEO Matt Kelly.