Capital One and True Ground Announce $2.5 Million Investment

Arlington, VA — Today, Capital One announced a $2.5 million strategic investment to support True Ground Housing Partners’ work to create and preserve affordable housing across Northern Virginia and the greater Washington region, while strengthening resident services that address some of the biggest financial pressures facing families today, including childcare, education, and emergency savings. Together, the creation of more affordable housing paired with the delivery of wraparound services will help residents manage day-to-day costs, build stability and create pathways to long-term economic mobility.

“Building affordable housing is only part of the solution,” said Desiree Francis, MVP, Head of Community Finance at Capital One. “Individuals and families do more than just stay housed when they have the right resources, they thrive. By pairing stable housing with access to quality childcare, education and financial coaching, we help individuals and families build self-sufficiency to pursue their long-term goals. This investment recognizes that housing stability and economic opportunity are deeply connected — and will help more families build stronger futures.”

The $2.5 million investment kicks off Capital One’s Community Benefits Plan commitment to deploy $25 million in philanthropic capital to support resident services and pre-development nationwide. This investment is part of the company’s broader five-year, $265 billion plan, designed to help low- and moderate-income consumers, small businesses and communities increase their economic opportunity.

“Safe, stable housing is more than a unit. It gives families a foundation for the future, especially when paired with services that help residents manage everyday needs and plan for what’s next,” said Carmen Romero, President & CEO of True Ground Housing Partners. “Capital One’s investment helps us move more affordable homes forward and connect residents with support once they are home. Our focus on educational, child care and savings programs will create additional opportunities for children and families to thrive.”

Capital One’s $2.5 million investment in True Ground includes $1.5 million in philanthropic support for True Ground’s resident services and a $1 million revolving pre-development fund. These funds will expand critical resident services across True Ground’s portfolio and help accelerate the development and preservation of affordable housing across the Washington region. The investment will also support True Ground’s goal to build 7,500 affordable homes and serve 10,000 residents region-wide by its 40th anniversary in 2029.

Capital One’s grant for resident services will strengthen True Ground’s sustainable delivery of on-site resident services programs, including individualized service planning, financial health workshops, regular check-ins with the Resident Support Team, health and wellness events, and food access initiatives.

The resident services grant will also invest in programs for children and young families, including True Ground’s Ready to Learn initiative, which helps students start the school year prepared. Funds will also be directed to daycare, to help parents offset their child care costs, and Child Savings Accounts to help parents build savings for their children’s future tied to education and attendance milestones.

True Ground currently serves more than 2,800 households across its portfolio and has maintained an eviction rate of no more than 2% through proactive resident engagement and housing stability efforts. Its CORES-certified resident services team includes more than 20 professionals.

True Ground’s success mirrors data from a recent study by Stewards of Affordable Housing for the Future (SAHF), supported by the Capital One Insights Center, which found that service-enriched affordable housing communities experience dramatically lower housing instability, averaging just 1.2 eviction-related move-outs per 100 households, far below the national eviction filing rate of 7.3 per 100 households.

Capital One’s philanthropic investment will enable True Ground to expand its predevelopment revolving loan fund to support critical early-stage activities, including land acquisition, zoning and land use planning, and early design work. This will help True Ground to identify and more quickly advance future affordable housing developments in high-opportunity neighborhoods. As building costs continue to rise across the region, the funding will also help True Ground acquire existing multifamily housing to preserve affordability for residents.

Capital One and True Ground have a longstanding relationship spanning more than 15 years bringing service enriched affordable homes to Northern Virginia.They have collaborated on four affordable housing communities in Arlington, creating more than 670 homes, including communities that support veterans, working families, older adults and residents at different stages of life. A fifth community, The Sweeney, is under construction and expected to deliver 432 additional homes by early 2028.

True Ground is a nonprofit affordable housing developer, enabling diverse families to imagine hopeful futures, even in one of the nation’s highest cost markets, the D.C. metro region. At True Ground, we believe that hope, like a home, needs nurturing and care. We are committed community builders, breaking down barriers and providing the support needed to turn aspirations into secure, comfortable apartment homes. We are not just building homes; we are changing the landscape for affordable housing, ensuring that everyone has the opportunity to live in a safe and welcoming community. True Ground was named one of the nation’s Top 50 Affordable Housing Developers of 2023 by Affordable Housing Finance, one of only a dozen nonprofits to make the list. Visit www.truegroundhousing.org to learn more.

Capital One Financial Corporation (NYSE: COF) is a leading technology-based financial services company with $489.1 billion in deposits and $682.9 billion in total assets as of March 31, 2026. Headquartered in McLean, Virginia, the company operates as a premier global payments provider and diversified financial institution, delivering a broad suite of products and consumer lifestyle and shopping experiences through its Credit Card, Consumer Banking including its Global Payment Network, and Commercial Banking lines of business. As the only major U.S. bank to migrate entirely to the public cloud, Capital One leverages proprietary data and advanced analytics to democratize financial tools across its primary markets in the United States, Canada, and the United Kingdom. For more information, visit www.capitalone.com, www.capitalone.com/about/newsroom/, and www.investor.capitalone.com.