Fernando Lemos is the founding executive director of Mi Casa Inc., a nonprofit developer of affordable housing in the District of Columbia.
Since 1993, Mi Casa has prevented the displacement of more than 700 people and helped to preserve the diverse social and economic character of D.C. neighborhoods.
How did you get interested in home ownership?
I founded Mi Casa because I thought there was a need for someone to provide affordable housing and improve the living conditions of the people in this community.
How has gentrification affected Mi Casa Inc.?
Houses in Columbia Heights and Mount Pleasant have increased in value, and it is much more difficult to provide affordable housing. We have to bring more subsidies into the projects.
How has the foreclosure crisis affected the families you serve?
It is not affecting us too much. We buy 30-year mortgages and we walk our buyers through the process. Houses are taking longer to sell, though, and people are more careful to purchase. Houses are coming back to the market because someone lied to the buyer and convinced them that they could afford the home.
What distinguishes Mi Casa from other nonprofits in the area?
All of us have the mission of providing affordable housing, we just differ in how we accomplish that mission. Mi Casa provides multifamily affordable homes. We help tenants purchase, renovate and convert their buildings into co-ops, preventing displacement.
What has been the greatest success of Mi Casa?
The greatest success is to see families in decent and affordable homes. That’s what makes a stable community. We see an improvement in the quality of life of the people who gain homes immediately. By creating longterm affordability, we ensure that the next generation will have affordable housing as well.
