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  • Writer's pictureFCRHA

FCRHA Approves Financing, Land Acquisition for Additional Affordable Housing in Tysons

At the July 21 meeting of the Fairfax County Redevelopment and Housing Authority (FCRHA), commissioners approved $33.3 million to acquire approximately four acres on Old Meadow Road, in Fairfax County’s Tysons Urban Center, and support the development of approximately 450 units of affordable housing by SCG Development Partners, LLC (SCG). The financing plan will incorporate a mixture of funding sources to include the Affordable Housing Development and Investment Fund, the Tysons Housing Trust Fund, and American Rescue Plan Act funds. This action is subject to the approval of the Fairfax County Board of Supervisors.

Through a public-private partnership, the FCRHA would retain ownership of the land and lease the property to SCG for the development and operation of the affordable housing community. The development – known as Somos at McLean Metro (Somos)- will include the demolition of a seven-story office building currently on the site and replace with two buildings (one five-story building over structured parking, and another eight-story building) with a combination of one-, two-, and three-bedroom units. The development will also include about 5,000 square feet of community space. Units will be committed to serve households at a variety of income levels to include 40, 50, 60 and 70 percent of Area Median Income (AMI).

“The FCRHA and Fairfax County are rewriting the textbook when it comes to public-private partnerships and the impact they have on affordable housing development,” remarked FCRHA Chairman Melissa McKenna. “In this latest chapter, we are again using an innovative financing plan from a variety of funding sources, securing ownership of the ground to ensure long-term affordability, and we are applying these resources in a heavily connected area that will provide jobs, education, recreation, social engagement and so much more for our residents.”

Somos will be located near medical, educational, recreational and commercial amenities – all within a three-mile radius. The site is also in close proximity to Tysons Corner Center and Galleria, the Capital One Center, Scott’s Run Nature Preserve, and within walking distance to the McLean Metro station and several bus stops.

“Businesses drive economic growth, and businesses love affordable housing as it presents a prime opportunity for their employees to live in the communities where they work,” McKenna related. “With the addition of Somos, we have nearly 1,000 committed affordable units being directed to the heart of one of the area’s most robust economic centers with transit connectivity throughout the region - Tysons. By incorporating smart, affordable residential development in our communities, we will continue to pave a prosperous path for the future of Fairfax County.”
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