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FCRHA Receives National Recognition for Creative Efforts to Close the Housing Gap


The Fairfax County Redevelopment and Housing Authority (FCRHA) and Fairfax County were recently featured in the August edition of The Novogradac Journal of Tax Credits, highlighting their collective and unprecedented work in developing public-private partnerships to more effectively deliver affordable housing. The article, “Private Capital from Tech Industry Titans Seeks to Close Affordability Gap,” showcases the public-private partnership with Amazon in a new development and highlights Fairfax County’s forward-thinking and creative approaches to delivering high-quality affordable housing. The FCRHA and Fairfax County’s efforts demonstrate that inviting corporate America to be a part of the solution is a critical component to long-term success.


Early in 2022, the FCRHA and the Board of Supervisors doubled the county’s affordable housing development goal to a total of 10,000 net new units by 2034. Such an undertaking, at the scale to which local leaders have committed, is a challenging task. For the last several years, the FCRHA has been rewriting the affordable housing playbook, adding new strategies to advance development and preservation efforts. The county has made landmark investments of public land, local dollars, federal and state funding, proffered housing funds, and much more to generate a pipeline of more than 3,000 units in various stages of development toward its goal. But county leaders will be the first to agree that delivering affordable housing at such a scale cannot be a solitary government activity. Partnerships, creative thinking, and leveraging resources are critical as the county seeks to deliver affordable housing and community assets throughout the jurisdiction.


“Our current Board of Supervisors and FCRHA have been relentlessly focused on building and maintaining affordable housing, because everyone ought to be able to afford to live in the same locality where they work,” said Fairfax County Board of Supervisors Chairman Jeffrey C. McKay. “To accomplish this takes an all-of-the-above approach which is why we’re proud to work with our partners at APAH and Amazon to find creative and innovative ways to grow our affordable housing stock. Our economy depends on the workers who need this resource, and it’s up to all of us to continue to deliver every single day.”

See the Full Article from the Novogradac Journal of Tax Credits


 

See Also: Amazon Funding Creates Pathway for More Affordable Housing and Community Center in Tysons

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