(December 23, 2015 – Arlington, VA) – AHC Inc. has been busy in 2015 – working hard to bring more than 1,500 new or renovated affordable apartments to the mid-Atlantic region. We have opened the doors to two brand new apartment buildings, started or completed renovation of five existing affordable rental communities, and created new partnerships to finance and develop several additional affordable housing opportunities in the region.
AHC’s 2015 development activities include:
We opened The Shell – a brand new apartment building that we created out of a steep hill and a gas station. Today, 83 families call this place home. And Woodbury Park, with 364 units, is under renovation. The historic renovation of the 1940s garden community is more than halfway finished, scheduled for completion in late 2016.
AHC’s first construction project in Alexandria, Jackson Crossing, is complete. Along with 78 affordable apartments, it also includes a roof patio and proximity to public transportation, jobs and shopping. We are delighted to partner with The Campagna Center, a long-time educational provider in Alexandria, to provide an onsite preschool. Families will start moving in this winter. AHC also closed on a new property, to be called St. James Plaza, which will transform property owned by the St. James United Methodist Church and the Bi-District Office of the Northern Virginia Methodist Church into 93 affordable apartments adjacent to market-rate homes
We finished renovations at The Birches, a 228-unit apartment community in Silver Spring, which we purchased with the help of the Housing Partnership Equity Trust (HPET), a social purpose real estate investment trust. We are also renovating a senior citizen community called Charter House in Silver Spring that has 212 units.
We are continuing to build out a 62-acre old public housing site called Key’s Pointe. It’s an exciting project and we look forward to watching the area ultimately transform into 900 homes. The renovation of Madera, 47 units, should be completed this winter. We are partnering with HPET to purchase a 312-unit rental townhome community outside of Baltimore. Our homeownership project, MonteVerde Rowe, is growing. So far, we have sold four totally renovated homes to first-time homebuyers and we are continuing to renovate more homes on the block.
Our first partnership, Lincoln Westmoreland, has 56 new units under construction and is adjacent to 108 renovated affordable apartments at the Shaw Metro station. We are working on another proposal for a large project along the Southwest waterfront.
Photo: From left to right: Key’s Pointe will ultimately include up to 900 homes (left); the renovation of Woodbury Park is expected to be completed in 2016 (center); and The Shell is now home to 83 families in Arlington (right).
Founded in 1975, AHC Inc. is a nonprofit developer of affordable housing in the mid-Atlantic region that provides quality homes and education programs for low- and moderate-income families. Based in Arlington, VA, AHC has developed more than 6,500 apartment units in 50 properties in Virginia and Maryland. AHC’s Resident Services program reaches 2,000 children, teens, adults and seniors each year through onsite education programs and activities.