Mission First is grateful for partners such as JPMorganChase (JPMC) who help us advance our mission, supporting our housing and our residents. Beyond providing critical financing for our buildings, JPMC has been an integral part of Mission First’s operations, community outreach and resident services.

To date, JPMC has provided a total of $78 million to five of Mission’s First’s affordable housing developments in Maryland and Pennsylvania. This investment has provided 490 safe, attractive, affordable homes to seniors, families and disabled households whose incomes are under sixty percent of area median income. In addition, Mission First is working with JPMC on a $92 million investment pipeline to support three additional projects totaling 364 units in Maryland and Pennsylvania.

In March, JPMC representatives joined our team at Mid City Apartments in Philadelphia to tour the property currently undergoing significant renovations – read more about the progress below. The tour was an opportunity to thank our funding partner and show them how their money is being utilized. The JPMC team also met with resident Betty Smith who talked to them about the impact of the preservation of the property as she went from a single room occupancy unit to an efficiency of her very own. Click here to read all about Betty.

In sharing the stories from that day, JPMC invited Mission First to be part of its storytelling project If these walls could talk, featuring real stories from real people impacted by JPMC Community Development Banking’s investment in affordable housing. JPMC’s Philadelphia video featured Mission First CEO Thomas Queenan and residents of Mid City Apartments Betty Smith and Markita Worthy. The video also included Cindy Hamilton from Heritage Consulting and George Jenkins from YouthBuild Philly. Click here to see the compilation and individual videos.

Our team has also connected with JPMC’s Community Reinvestment Act team to discuss ways they can further partner to support our Resident Services work. Through our Resident Services programs, we strive to connect with our residents on a personal level, recognizing the unique challenges they face and providing them with access to services and resources that will allow them to thrive in their communities. Mission First is now working with JPMC to provide budgeting workshops and financial planning seminars to support our Housing Stability efforts geared towards assisting residents in sustaining quality living standards. This work kicks off in August with educational workshops at two of our Washington, DC properties.

JPMorganChase is a full-circle partner to Mission First impacting our business from every angle, and we value their support for our work.

In June, we closed on financing for 1910 University Senior Housing in Wheaton, MD. Mission First plans to develop a 90-apartment 1-and-2 bedroom senior housing community with 100% affordable units for residents making 30-70% Area Median Income (AMI). The property will be constructed on the underutilized parking lot of the Har Tzeon-Agudath Achim synagogue and will include a public multiuse path providing connectivity to downtown Wheaton, MD. Construction will begin soon – keep a look out for information on our Groundbreaking Ceremony in the coming months!

Shortly, we are scheduled to close on the financing for the preservation of Hudson Park Towers, an existing affordable housing development consisting of 70 apartments in York, PA. The four-story brick building, approximately 70,000 square feet, was originally constructed in 1900 as the Diamond Silk Mill, and the building was converted to housing in 1989 using Low Income Housing Tax Credits. Hudson Park Towers has experienced normal wear and tear over the last 36 years. To ensure its continued viability, Hudson Park requires replacement or repair of major systems including the building envelope, aesthetic and quality of life improvements and energy efficiency upgrades to stabilize operations and improve financial performance.

In the next few weeks, we will be finished with the preservation of Princess Street Apartments in York, PA. The three-story brick building includes six one-bedroom units and 22 two-bedroom apartments. Originally constructed in 1899, the building is the former Ashley and Bailey Company Silk Mill which was converted to housing in 1993. Mission First’s Construction Department worked on the exterior by replacing windows with new energy efficient styles, adding a new roof, upgrading the Heating Ventilation Air Conditioning (HVAC) and replacing the asphalt in the parking lot. Inside the building, we have remediated lead-based paint, replaced flooring, upgraded kitchens and baths and made corridor improvements including new paint and lighting.

We are about a month away from concluding our preservation of Mid City Apartments, an affordable housing residence serving previously homeless individuals in Center City Philadelphia. The property was built as the Mid-City YWCA in 1923 and was later taken over by the Philadelphia Redevelopment Authority (PRA). In 1998, the property was leased by a developer who renovated the property into a mixed-use facility. In 2016, Mission First assumed ownership of Mid City Apartments. We are almost finished rehabilitating the property through a 4% LIHTC/bond recapitalization. As the general contractor, Mission First converted 48 Single Room Occupancies into 41 efficiencies, each apartment with a full kitchen and bathroom, and preserved all 12 existing one-bedroom apartments. The lobby is reconfigured to provide a private entrance for residents, separating it from the adjacent charter school and enhancing overall safety and security of the property. Mission First also refreshed the corridors and common areas and built a new community room and management and supportive service offices.

Construction on Patuxent Commons is moving swiftly, and we are two months ahead of schedule, with completion expected in October. Patuxent Commons is a brand new 76-unit mixed-income apartment community for adults with disabilities, older adults and families in Columbia, MD. The concept for Patuxent Commons was developed by the Autism Society of Maryland to help address the housing instability and isolation faced by

low-income adults with disabilities and seniors and enhance their social connectedness through relationship building and community engagement. The site provides an ideal location for residents with shopping, employment, recreation and transit opportunities in proximity to the housing community. Patuxent Commons will also include more than 8,000 square feet of community meeting space that will be used for resident programming and services, as well as events including the wider community.

In January, Mission First and its development partner The Henson Development Company broke ground on Nathaniel McFadden Learn and Play Park in Baltimore, and construction has been progressing nicely with the goal of a fall opening. The park is our next project in Perkins Somerset Old Town (PSO) Transformation Plan where 1234 McElderry Apartments, The Ruby at Somerset and The Ella at Somerset recently opened. Named after former senator and educator Nathaniel McFadden, the park will feature many educational elements as part of the design. Its theme will be centered around learning and education and honoring the Jazz greats who contributed to molding black musical talent. The design considers all ages, physical and learning spectrums, and includes an amphitheater for community events.