Project-Based Vouchers Pave the Way for 431 New Affordable Homes for Seniors
As a result of the November 2019 request for proposals for project-based vouchers (PBVs), the Fairfax County Redevelopment and Housing Authority has awarded 130 PBVs to three applicants for new construction senior housing projects.
Having guaranteed PBVs associated with new construction projects enable qualifying affordable housing projects to have a stronger financial position to obtain funding resources – both in the form of cash and/or in the form of IRS tax credits. Awarding these 130 PBVs is helping to pave the way for the development of 431 new senior housing units in major activity centers in Fairfax County – including Reston, Fairfax and Alexandria – with access to a wide range of community amenities as well as public transportation.
New Lake Anne House (Reston): 102 PBVs awarded; 240 total senior units
One University Senior Housing (Fairfax): 20 PBVs awarded; 120 total senior units Oakwood
Senior Housing Development South Nine (Alexandria): 8 PBVs awarded; 71 total senior units
Applications were scored based on a points system. Proposals were judged on the following criteria: project summary; project and property description; applicant qualifications and experience; project feasibility; and supportive services.