AHC Inc. Partners with Virginia Housing and Fairfax County to Preserve 229 Affordable Homes
Landings I and Landings II cover approximately 16 acres of land and feature 292 apartments for residents to choose from, with studio, one-bedroom and two-bedroom options. Capital repairs will take place at the two properties in the next year, while a more extensive renovation will occur over the course of the next decade.
ARLINGTON, Va., March 3, 2021 /PRNewswire-PRWeb/ -- More affordable homes are coming to the Alexandria and Fort Belvoir area, thanks to affordable housing developer AHC Inc., which today announced the acquisition of two prime properties. The acquisition was made in partnership with Virginia Housing and Fairfax County to fulfill their goal of providing safe, affordable homes for the residents of Fairfax County.
This acquisition ensures the preservation of 292 apartments as affordable homes. The properties will provide homes for residents earning between 50% and 80% of the Area Median Income or between $63,000 and $79,600 for a family of four. Affordability will be implemented in a phased approach upon turnover.
"Fairfax County is committed to ensuring no net loss of affordability. To accomplish this preservation goal, partnerships with the development community and financial institutions are essential," said Department of Housing and Community Development Director Tom Fleetwood. "We are very excited that AHC and Virginia Housing have taken the first steps toward helping us meet that goal by preserving existing market affordable units along the opportunity-rich Richmond Highway Corridor."
One of the properties, currently known as Haven Mount Vernon, is located at 5401 Claymont Drive in Alexandria, while the other, known as Haven Fort Belvoir, is located at 9190 Richmond Highway in Fort Belvoir. Both properties will be renamed as Landings I and Landings II, respectively.
The two communities will undergo moderate improvements, including repairs to the siding and sidewalks, in addition to partial replacements of the HVAC systems and hot water heaters. Easier access to the leasing center, as well as new roofing will be implemented at Landings I, while window repairs will be made at Landings II. Additional renovations will take place at both buildings over the span of the next 10 years.
"Preservation is an important aspect of Virginia Housing's mission, and AHC is to be commended for preserving some of Fairfax County's much-needed affordable housing stock along the Route 1 corridor," said Virginia Housing CEO Susan Dewey. "Virginia Housing remains focused on working with our partners to increase the amount of quality affordable housing available to our citizens, especially in Northern Virginia. Together with AHC, Fairfax County and our other partners, we are making great progress toward our goal."
Occupying nearly 12 acres of land, Landings I will offer 216 apartments with 168 two-bedrooms and 48 one-bedrooms. Landings II is situated on approximately four acres and will feature 76 residences with 12 studios, 42 one-bedroom apartments, and 22 with two-bedrooms.
Both communities will offer a number of amenities to their residents. Landings I will include a business center, fitness room, clubhouse, pool, children's playground and picnic area, while Landings II will have an on-site dog park, playground and fitness center.
"I am committed to preserving and adding affordable and work force housing in the Richmond Highway corridor along with our many other new developments," said Mount Vernon District Supervisor Daniel Storck. "This new acquisition is a major step to not just preserving, but improving and enhancing the affordable housing stock we already have in the District for our residents."
AHC Inc. financed the properties with loans from both Virginia Housing and Fairfax County, as well as an AHC Loan. The project also utilized Virginia Housing REACH grant funds for housing near the new Amazon headquarters.
"We are excited to partner with both Virginia Housing and Fairfax County to help address the ongoing affordable housing crisis in our state," said AHC Inc. VP of Multifamily Development, John Welsh. "Currently, there are many hard-working families who work in Alexandria and Fort Belvoir but do not live here because of the lack of housing affordable to them. Landings I and II will offer much-needed affordable and moderately priced homes, located near employment centers and convenient transportation options. Landings I & II will connect nicely with Fairfax County's Embark Richmond Highway."
With the new acquisition, AHC Inc. has preserved or produced more than 1,100 quality homes for low- and moderate-income Fairfax County residents.
AHC Inc. is also welcoming 113 families later this month to a brand new affordable housing community in Fairfax County called The Spire, which is already accepting applications.
About AHC Inc.
Founded in 1975, AHC Inc. is a nonprofit developer of affordable housing that provides quality homes and education programs for low- and moderate-income families. Based in Arlington, VA, AHC has developed more than 8,000 apartment units in 50+ properties in Virginia, Maryland and Washington, D.C. AHC's Resident Services program reaches 3,000 children, teens, adults and seniors each year through on-site education and social service programs and activities. For more information, visit https://www.ahcinc.org/.
About the Fairfax County Redevelopment and Housing Authority (FCRHA)
The FCRHA serves more than 18,000 residents through a variety of rental housing assistance and First-Time Homebuyer programs; and owns and operates nearly 4,000 units of housing – including multifamily housing, senior housing, licensed assisted living and specialized housing for tenants with a variety of needs. The FCRHA also oversees and administers Fairfax County's land use housing programs and the investment of local funds as well as state and federal grants to increase and/or preserve the county's stock of affordable homes. For more information, visit http://www.fairfaxcounty.gov/housing.
About Virginia Housing
When homes are affordable and accessible to jobs, good schools and transportation, everyone benefits. Individual lives are improved and communities as a whole grow stronger. Virginia Housing was created in 1972 by the General Assembly to help Virginians attain quality, affordable housing. We carry out this mission by working in public-private partnerships with local governments, community service organizations, lenders, Realtors, developers and many others. We provide mortgages for first-time homebuyers, as well as financing for apartment communities and neighborhood revitalization efforts. We offer free homebuyer classes, support housing counseling, and help people with disabilities and the elderly make their homes more livable. We also administer the federal Housing Choice Voucher and Housing Credit programs in Virginia. Virginia Housing is self-supporting and receives no state taxpayer dollars to fund our programs. Instead, we raise money in the capital markets, and we contribute a significant portion of our net revenues each year to help meet Virginia's most difficult housing needs. http://www.virginiahousing.com.
Media Contact
Stephanie Grau, AHC Inc., 954-379-2115 x 111, [email protected]
SOURCE AHC Inc.
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