Habitat for Humanity of Washington, DC partners with Promontory Financial to build affordable passive houses

Dec 03, 2013, 10:08 ET from Habitat for Humanity of Washington, D.C.

WASHINGTON, Dec. 3, 2013 /PRNewswire-USNewswire/ -- Just as the holiday season begins, Promontory Financial Group (Promontory) joins Habitat for Humanity of Washington, DC (DC Habitat) as a major sponsor of its affordable housing development in the Ivy City community of Northeast Washington.  DC Habitat broke ground in November on its third and final phase of construction in this long-troubled part of the District, to include six homes built to the highly efficient passive house standard. One of the six passive homes will be named for Promontory Financial, a Full-House Sponsor, and company employees will participate in a series of team builds -- helping to construct these passive houses alongside the low-income, working families who will eventually call them home.

It's not the first time Promontory has thrown its support behind DC Habitat's efforts to build affordable housing in our nation's capital – the company was also a major sponsor of the non-profit's work to launch Phase 1 of the Ivy City development, at the time of the Jimmy & Rosalynn Carter Work Project in 2010.

"We have been passionate supporters of Habitat for Humanity through the years but are particularly excited to once again sponsor and help build a home in Ivy City," said Gene Ludwig, founder and CEO of Promontory, a Washington-based regulatory adviser to financial institutions.  "Communities benefit enormously when families who otherwise might not have the opportunity can come within reach of owning their own homes and improving their neighborhoods."

DC Habitat worked with Parsons the New School for Design last year to build the first passive house in Washington, DC.  Called the "Empowerhouse," that home was originally constructed as an entry into the 2011 Solar Decathlon, where it won in the affordability category.  DC Habitat is using experience gained through the "Empowerhouse" project, which also won the non-profit a Mayor's Sustainability Award in 2012 and is now home to two low-income families in the Deanwood neighborhood, to build the six passive homes in Ivy City.  Once construction of Ivy City Phase 3 is completed in late 2014, DC Habitat will have built and rehabilitated a total of 28 homes in the community.

"Promontory Financial has joined the ranks of DC Habitat's most generous corporate partners," said Susanne Slater, DC Habitat's President and CEO.  "Their continued support has been integral to our production of affordable, sustainable housing in Ivy City. "

"Our third phase of development in Ivy City is an especially important one, as we are building these highly sustainable passive homes, and working to create a replicable model," she said. "Because the passive house design can reduce a home's total energy consumption by 80 to 90 percent, the low-income homeowners we serve will enjoy substantially lower energy costs throughout the lifetime of their homes."

Habitat for Humanity of Washington, D.C. believes that everyone deserves a house they want to call home. That's why we work to eliminate poverty housing and homelessness in the nation's capital by building affordable, energy- and resource-efficient homes for people in need. DC Habitat builds and rehabilitates homes in order to sell them to families who are ineligible for conventional financing. Visit us at www.dchabitat.org for more information.

Promontory Financial Group helps companies and governments around the world manage complex risks and meet their greatest regulatory challenges with integrity and quality. We are the world's foremost experts in financial risk, regulation, and compliance. Our work makes our clients stronger and the financial system safer for consumers.

CONTACT: Heather Phibbs
Habitat for Humanity of Washington, DC
(202) 882-4600, ext. 233

SOURCE Habitat for Humanity of Washington, D.C.