Alexandria City Council Approves Development of 113 New Affordable Apartments and Church Building
January 25, 2018 /in News, Press Releases, Property Development /by Jennifer Smith
Partnership between nonprofit housing developer and church will transform two-acre site into 113 affordable apartments and a new church building.
On January 20, 2018, the Alexandria City Council unanimously approved a proposed 113-unit affordable housing development located at 2280 N. Beauregard Street. The project is a partnership between nonprofit affordable housing developer AHC Inc. and the Episcopal Church of the Resurrection.
In addition to the development approvals, the City Council also unanimously endorsed a loan of up to $9 million to help facilitate the project, as well as a grant of $350,000 to provide rental assistance to make 12 units deeply affordable.
The development, which has recently been named "The Spire" in honor of AHC's successful collaboration with the Church, will utilize a two-acre site that currently includes Resurrection's church building and associated administrative space, as well as other ministry-related uses, including a food pantry that serves many households on Alexandria's West End.
The plan approved by City Council will redevelop the site to include an affordable housing building and a new, smaller church. The parties have agreed that the Church will retain ownership of the land, but will offer AHC a long-term ground lease. AHC has committed to 65-year affordability term.
"As a faith community, affordable housing is a natural part of our mission. Our congregation has a long history of helping people find shelter," said Betsy Faga, Chair of the Episcopal Church of the Resurrection's Redevelopment Committee. "Working together with the community to address this critical need has been rewarding and also re-energizing for our church."
AHC has worked with its development team, the Church, the City and with the community, including its adjacent neighbor Goodwin Housing of Alexandria, to refine the project concept for nearly three years.
"This project would not be possible without the generosity of the Episcopal Church of the Resurrection and the City of Alexandria's steadfast commitment to improving housing affordability," says Walter D. Webdale, AHC Inc. President and CEO. "Thanks to their determination and leadership, we hope to create 113 high-quality, affordable homes for hardworking low- and moderate-income families.
The development will include a mix of one, two and three-bedroom units, including 12 fully-accessible units, that will serve households with incomes ranging from 40-60% Area Median Income (AMI).
The total development cost of the project is estimated to be approximately $46 million. AHC will apply for low income housing tax credits in an upcoming March competitive application process administered by Virginia Housing Development Authority (VHDA), the state housing financing agency.
The Spire is one of three City-sponsored "leveraged" projects envisioned by its 2012 Beauregard Small Area Plan and will help Alexandria fulfill its pledge to work with nonprofits and private developers to deliver 800 long-term committed affordable units in the Beauregard Corridor over the next few decades to address the potential loss of market affordable units in that area of the City.
Mayor Allison Silberberg and members of City Council heartily thanked and congratulated AHC and the Church for their work on the project, to date, recognizing the Church's extraordinary commitment to housing affordability and meeting the needs of its neighbors in the Beauregard area.
The Spire is AHC's third affordable housing development in Alexandria. Jackson Crossing, a 78-unit project, located near Potomac Yard, completed construction in late 2014 and was fully leased shortly thereafter.
St. James Plaza, on Fillmore Avenue, is under construction. The development will provide 93 affordable apartments for families in early April. Leasing is now underway. Leasing information. A grand opening is planned for Saturday, April 14, 2018, at 8 AM.
Rendering courtesy of Cunningham-Quill Architects.
Founded in 1975, AHC Inc. is a nonprofit developer of affordable housing in the mid-Atlantic region that provides quality homes and education programs for low- and moderate-income families. Based in Arlington, VA, AHC has developed more than 7,000 apartment units in 50+ properties in Virginia and Maryland. AHC's Resident Services program reaches 2,000 children, teens, adults and seniors each year through onsite education programs and activities.
https://www.ahcinc.org/wp-content/uploads/Spire-710.jpg 451 710 Jennifer Smith https://www.ahcinc.org/wp-content/uploads/AHC_logo_new-norule-red-1-300x229.png Jennifer Smith2018-01-25 18:54:202018-01-26 11:37:38Alexandria City Council Approves Development of 113 New Affordable Apartments and Church Building
AHC Inc. Resident Services Celebrates 25th Anniversary AHC Celebrates 20 High School Grads – All First in Family to Attend C...