Board Approves Housing Authority Financing to Develop Affordable Housing in Huntington Area
The Fairfax County Board of Supervisors has approved the Fairfax County Redevelopment and Housing Authority (FCRHA) to make loans totaling $7.4 million to Wesley Housing Development Corporation (WHDC) for the construction of two buildings consisting of a total of 126 units of affordable housing to be known collectively as “The Arden” in the Mount Vernon District.
“The financing of The Arden development supports the Board’s effort to ensure we have more affordable housing resources for working individuals, families of modest means and those with fixed or lower incomes,” said Supervisor Dan Storck (Mount Vernon District). “Partnering with our private sector nonprofits to support affordable development projects, like this one, is a smart investment and a great benefit to the Mount Vernon District.”
“We are thrilled to be part of such a vital development for the Huntington area”, notes Shelley Murphy, President of Wesley Housing Development. “With the significant amount of market rate in the neighborhood, The Arden will not only bring needed affordable housing for local families, it will help maintain the community’s economically diverse background.”
Within walking distance of the Huntington Metro Station, The Arden will be affordable to households with incomes at 40 percent, 50 percent and 60 percent of the Area Median Income (AMI), which is around $110,300 in the Washington, DC Metro Area. That equates to a household income between approximately $44,120- $66,180 a year for a family of four. A portion of the units will be marketed towards elderly and formerly homeless individuals, and individuals with mental and/or physical disabilities. The mixed-use community will consist of studio, one, two, and three bedroom units to include eight accessible units for disabled residents, as well as commercial space.
Financing for this project will be provided to WHDC in the form of deferred loans from the FCRHA. “Quality, workforce housing is the foundation of stable and healthy communities. I am excited to support a project that has the support of my neighbors, local business owners and the Huntington Community Association.” notes Matthew Bell, FCRHA Commissioner (Mount Vernon District). “This project will increase the amount of workforce housing available in Fairfax County that is within walking district of a metro transit station and help continue the important revitalization of the Huntington area.”
The action by the Board of Supervisors supports the Housing Blueprint, a housing strategy that reflects the philosophy that affordable housing is a continuum ranging from the needs of the homeless to those of first-time homebuyers. It furthers the county goals of providing affordable housing options to low and moderate income families and those with special needs.
The Fairfax County Department of Housing and Community Development (HCD) is a local governmental agency within Fairfax County that administers affordable housing and community revitalization programs. In addition to its role as a department of county government, HCD serves as the staff for the Fairfax County Redevelopment and Housing Authority (FCRHA).
The FCRHA is a political subdivision of the Commonwealth of Virginia whose mission is to initiate and provide opportunities for Fairfax County residents to live in safe, affordable housing and to help develop, preserve, and revitalize communities.