1 person “affordable” = $1,128 studio @ 60% AMI -but- new 576 Sq. Ft. Studio lists @ $2,095
“More supply will drive down price” “What about those Micro-Units I’ve been reading about?”
Market rate affordable housing should be the primary means of providing affordable housing. A range of housing choices should be available throughout the County to accommodate households of all income levels, sizes and needs. -Arlington County Housing Principles The 2012 Countywide average rent increased to $1,999, an increase of 13% over the 2011 average.
The Arlington Partnership for Affordable Housing Our Mission To develop, preserve, own and advocate for quality affordable housing in Arlington, and to promote opportunity for our residents through partnerships and programs. AHS State of Affordable Housing May 2013
Parc Rosslyn APAH to buyout, Paradigm, our co-developer, in 2013 Construction will be completed in December 2013 Arlington Mill
Carlyn Springs 14 Existing: 27 units Built in 1963 Transit-oriented location Site plan accepted May 2013 104 units New APAH office Seeking County approvals in 2013 Applying for tax credits in 2014 Delivery in 2016 Redevelop APAH property in Ballston Metro area
15 Queens Court Redevelopment Queens Court Apartments 44,727 sq. ft. Redevelopment in Rosslyn area
16 Queens Court Redevelopment Goals Replace aging 39-unit building with a minimum of 100 units, but ideally 250 committed affordable units Leverage one of APAH’s most valuable assets – one acre in Rosslyn Create an efficient and cost effective deal which will compete favorably in Virginia’s competitive tax credit competition −Total development cost per unit cap ($350K per unit) starting 2014 Major affordable housing opportunity in Rosslyn APAH requirements/constraints
Queens Court Redevelopment Summary of Options APAH swaps site for 15-story high-rise location at Wilson School atop fire station. Queens Court becomes parkland or other county use 284 Affordable Units APAH jointly redevelops 12 story mid-rise Queens Court with fire station. 200 Affordable Units APAH redevelops Queens Court site alone as 6 story-low rise. 120 Affordable Units Max density = more affordable units atop new fire station and 1 acre park created Medium density = more affordable units atop new fire station Less density/ Simpler Execution = APAH redevelops existing site alone; Wood Construction and lower costs
APAH Resident Services – New Partnerships Greenbrier Learning Center The Reading Connection ACE And Coop Ext Service Energy Masters AFAC Food Distribution
Our Vision A diverse and inclusive, transit-oriented, sustainable community that welcomes and values all residents. Our Role Marry best practices in affordable housing finance and development with a deep commitment to the local community to advocate, preserve and build affordable housing.