NEWS RELEASE FOR IMMEDIATE RELEASE March 28, 2002 Capstone Condominiums Holds Ribbon Cutting and Open House (Washington, DC) Department of Housing and Community Development (DHCD) Director Stanley Jackson and Ward 1 Councilmember Jim Graham joined People's Involvement Corporation (PIC) officials and new owners/tenants March 28 at the ribbon cutting and open house for the Capstone Condominiums at 1834 4th Street, NW in the historic Le Droit Park community. DHCD sold the Capstone Building to PIC as a Homestead property and provided a $70,000 construction loan. Capstone Condominium owner Debra Payne was the first to write a $500 downpayment check to become a homeowner of a newly remodeled, two bedroom with exposed brick walls condominium in the same neighborhood as former Washington Mayor Walter Washington, Reverend Jesse Jackson, and former Ward 1 Councilmember Frank Smith. The mission of the Department of Housing and Community Development (DHCD) is to provide quality and affordable housing opportunities and to increase homeownership for the residents of the District of Columbia. DHCD supports housing development projects by funding acquisition, pre-development, construction, and renovation costs. DHCD publishes photos of events that celebrate the beginning or completion of various DHCD funded housing development projects from time to time.