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  • Writer's pictureFCRHA

Federal Home Loan Bank Awards $750,000 to Support Senior Affordable Housing in Fairfax County

The Fairfax County Redevelopment and Housing Authority, along with Congressman Gerry Connolly (D-VA), and the Fairfax County Board of Supervisors, announced that the forthcoming Braddock Senior development, to be known as “Ilda’s Overlook Senior Residences,” has been awarded $750,000 in funding through Federal Home Loan Bank of Atlanta’s (FHLBank Atlanta) 2023 Affordable Housing Program (AHP) General Fund.

The funding will help finance and purchase the construction of a portion of the 80 units at Ilda’s Overlook Senior Residences, which will serve independent older adults ages 62 and above with household incomes ranging from 50-60% of Area Median Income (AMI).

Arlington Partnership for Affordable Housing (APAH) is the developer of Ilda’s Overlook Senior Residences and recipient of the funds, along with its partner Truist Bank.

“The White House has made historic investments to increase the supply of affordable housing across the country. In the 11th District of Virginia, the need exists across all generations. This new funding will directly benefit older adults who deserve to age in place in the community they established,” said Congressman Gerry Connolly.

“The Braddock District in Fairfax County is home to nearly 17,000 older adults. With Ilda’s Overlook, we are providing affordable homes for this generation that are incorporated into the fabric of an opportunity-rich community. Support and funding from our federal partners is key to our ability to deliver life-changing projects like this one,” said James Walkinshaw, Braddock District Supervisor, Fairfax County Board of Supervisors.

“We are expanding options for older adults to enjoy affordable living near family, friends, care providers and the other conveniences and supports they have come to rely upon. Ilda’s Overlook will be a high-quality, beautiful option for aging in place,” said Lenore Stanton, Chair, Fairfax County Redevelopment and Housing Authority (FCRHA).

The additional funding will be added to a combination of funding sources for the development, including $8 million in bonds from the FCRHA, Low-Income Housing Tax Credits (LIHTC), a Virginia Housing Trust Fund Loan, and more. Groundbreaking on the project occurred in November 2022, and is expected to open to residents in late 2023.

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I am trying to apply for housing on line have a hard time is it possible to send applications by mail if so please let me know thank you

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