Early Successes, Large Project Pipeline Spur Progress
On March 22, the Fairfax County Board of Supervisors officially raised the bar for affordable housing by announcing they were doubling their goal from producing a minimum of 5,000 units by 2034 to creating 10,000 net new units affordable to households earning up to 60 percent area median income.
“In just two years since establishing this minimum goal, Fairfax County has advanced our affordable housing development pipeline to more than 2,000 units,” said Fairfax County Board of Supervisors Chairman Jeff McKay. “The goal of 5,000 was always established as a ‘floor,’ but seeing how quickly we have advanced, thanks to the tremendous work of our staff and collaboration with the Redevelopment and Housing Authority and our community partners, it’s time to extend that reach with a new goal.”
Over the last two years, the county’s advancement of affordable housing has been spurred by the dedication of public land for affordable housing development and innovative financing plans with funding from a variety of sources to promote the development and preservation of affordable housing in every corner of the county. In the last year alone, the Fairfax County Board of Supervisors and the Fairfax County Redevelopment and Housing Authority (FCRHA) have worked together to provide more than $94 million in financing resources dedicated to affordable housing with money coming the Affordable Housing Development and Investment fund, Tysons Housing Trust Fund, the American Rescue Plan Act, and a variety of state and federal funding sources.
“The fact that we are able to double down on affordable housing is reflective of the successes that we have experienced over the last two years – all the partnerships, the allocation of public land, the multi-layer financing…it is working,” said FCRHA Chairman Melissa McKenna. “We excitedly accept and endorse this new goal established by the Board of Supervisors and look forward to continuing to build on the success we have achieved – making every affordable housing project a model for the next – and infusing affordable housing in every corner of the county.”
Video – March 22, 2022 Board of Supervisors Meeting The Chairman’s motion begins at the 1:01 hour mark.