Virtual Grand Opening of The Spire!
Click here to register. (Zoom link emailed prior to event.)
Date: May 20, 2021
Time: 12PM to 12:30
Program: Program will include a tour of the building and speakers Congressman Don Beyer; City of Alexandria Mayor Justin Wilson; and Episcopal Church of the Resurrection Reverend Jo Belser.
The Spire is a brand new affordable apartment community with 113 new homes in the City of Alexandria’s Beauregard neighborhood.
Seven years in the making, The Spire became a reality thanks to Episcopal Church of the Resurrection’s (ECR) mission-driven vision. By a nearly unanimous vote, the congregation voted to make a lasting difference to the community by transforming their two-acre plot of land into a new worship space and affordable housing through a partnership with AHC.
The Spire includes a mix of one-, two- and three-bedroom apartments, including 12 fully accessible homes, that will serve households with incomes ranging from 30 to 60% AMI. It was designed to meet Universal Design standards and achieve EarthCraft Gold certification. Other amenities include a community room, exercise room, landscaped courtyard, and structured parking.
The $48.3 million affordable apartment development successfully competed for a variety of local, state and national funds, including $23 million in tax credit equity from an allocation by Virginia Housing (VHDA), a $9.9 million loan from the City of Alexandria, a $1.3 million loan from Virginia/National Housing Trust Funds, and a $500,000 loan from the Federal Home Loan Bank of Atlanta.
Other sources include a construction loan from Capital One, a $11.5 million first trust loan from Freddie Mac, and $500,000 from NeighborWorks America. The City of Alexandria also provided a rental assistance grant of $350,000 to make 12 apartments deeply affordable.
The Spire, designed by Cunningham-Quill and constructed by Harkins Builders, started welcoming families in March 2021.
Partners include Capital One Bank, City of Alexandria, Cunningham l Quill Architects; Episcopal Church of the Resurrection; Federal Home Loan Bank Atlanta; Freddie Mac; Harkins Builders; Hudson Housing Capital, Klein Hornig LLP; Land, Carroll & Blair; NeighborWorks America; Virginia Department of Housing and Community Development; Virginia Housing (VHDA); and Walter L. Phillips, Inc.