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Next Phase of Key’s Pointe Under Construction

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The second phase of Key’s Pointe, the redevelopment of a massive 1940s public housing community, is now underway. The project, one of the first new developments in  Southeast Baltimore in many years, is bringing a neglected 62-acre site back to life. The multi-phase project will eventually include more than 900 new affordable and market-rate apartments and over six acres of new parks and green space.

The development, a partnership among AHC Greater Baltimore, The Michaels Development Company and the Housing Authority of Baltimore (HABC),  is a suburban/urban hybrid that combines a traditional street grid with close-together homes, sidewalks, alleys and patios. The Green Communities-certified project also provides long-term environmental features, including landscaped micro bio-retention facilities to effectively manage storm water runoffs.

The second phase of the project will include 68 affordable and market-rate residential units, a multi-purpose meeting room and office, as well as green space for residents. Construction is expected to be completed in early 2018.

The funding for the $23.26 million  second phase includes $11 million in tax-exempt bonds issued by the Maryland Department of Housing & Community Development (DHCD); $8.78 million in low-income housing tax credit (LIHTC) equity from syndicator Riverside Capital, LLC; a $5.99 million FHA 221(d) 4 loan from Wells Fargo Multifamily Capital; a $7.65 million Rental Housing Factor Funds (RHFF) loan from HABC; and a $493,000 loan from DHCD’s Rental Housing Works (RHW) loan program. Additional sources include deferred developer fee. The combined finance sources equal $34.26 million – $11 million more than the total development cost – due to DHCD’s requirement to collateralize the State-issued tax-exempt bonds.

The first phase of the redevelopment, which included 76 residential units (including 16 units reserved for persons with disabilities), was completed in 2014. Half of the finished homes are deeply affordable using a Project-Based Section 8 contract with 27 reserved for current and former public housing families. The remaining units are available to families earning up to 50% of the Area Median Income.

Photo: Mayor Stephanie Rawlings-Blake joined the Housing Authority of Baltimore City (HABC) Executive Director Paul T. Graziano, The Michaels Development Company, AHC Greater Baltimore, Inc., elected officials, state and federal partners, and members of the community for a ceremonial groundbreaking for the second phase of Key’s Pointe.

 

 

AHC Inc., City Officials and Partners Break Ground on 93 New Affordable Apartments in Alexandria

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(July 13, 2016 – Arlington, VA) – AHC Inc., a nonprofit affordable housing developer, partners and City of Alexandria officials celebrated the groundbreaking for St. James Plaza, 93 new affordable apartments adjacent to Alexandria’s Beauregard neighborhood.

The project, located on a portion of a three-acre site previously owned by the St. James United Methodist Church and the Bi-District Office of the Northern Virginia Methodist Church, expects to welcome residents in late 2018. The remainder of the site will have a public landscaped mews and 31 new market-rate townhomes.

“AHC Inc. is delighted to partner with the City of Alexandria again to create housing that is affordable for a variety of individuals and incomes, including working families, senior citizens, and young adults just starting out,” explained AHC President and CEO, Walter D. Webdale.

St. James Plaza will include a mix of efficiencies, one-, two-, and three-bedroom homes. Amenities will include underground parking and a community space where a full day pre-kindergarten program will be offered by the Campagna Center for residents’ children as well as children from the neighborhood. Rents will be affordable to households with incomes ranging from 40% to 60% of the Area Median.

“The St. James Plaza project will provide a valuable affordable housing resource – including deeply subsidized apartments – for Alexandria residents,” said Alexandria Mayor Allison Silberberg. “We are particularly pleased to be working with AHC to create long-term committed affordable units for households in the Beauregard Plan area who may be displaced by future redevelopment.  These units will be affordable for at least 60 years.”

In addition to the City of Alexandria, which is providing a loan of $5.7 million to AHC for the project, St. James Plaza partners include Capital One Bank, Hudson Housing Capital, and NeighborWorks of America.

Demolition of the existing buildings is scheduled to begin in the next couple of weeks, with construction of St. James Plaza to start later this year. Designed by Cunningham-Quill Architects, St. James is being built by Harkins Builders.


Photo caption:  City of Alexandria officials, including Mayor Allison Silberberg and City Council members; along with project partners Capital One Bank, Hudson Housing Capital, and NeighborWorks America helped nonprofit developer AHC Inc. break ground at St. James Plaza, 93 new affordable apartments in Alexandria, VA.

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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 7,000 apartment units in 52 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.

 

AHC and Montgomery County Work Together to Provide Homes for the Formerly Homeless

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Along with developing affordable rental communities, AHC Inc. also works with local communities on initiatives that help provide housing for people struggling with severely challenging issues – homelessness, abuse, or disabilities.  These activities include providing permanent supportive housing units at many of our communities in Arlington and including ADA-accessible apartments when constructing or redeveloping a community.

Recently, AHC worked with Montgomery County Coalition for the Homeless (MCCH) and its affiliate affordable housing developer Coalition Homes (CH) to respond to the growing need for homes for individuals transitioning out of homelessness.

The partnership had its roots in a 2009 transaction that enabled AHC, in conjunction with Montgomery County’s Department of Housing and Community Affairs, to purchase six, two-bedroom condominium units in Gateway Commons in Clarksburg, MD. The acquisition preserved the town house units as moderately priced rentals for households earning up to 55% of the area median income.

Earlier this year, MCCH obtained a significant number of housing subsidy vouchers and needed to expand its rental housing portfolio to accommodate the additional households. The organization reached out to AHC to see if they could work out an agreement to purchase the six town house apartments, and with strong support from Montgomery County, an agreement was reached that enabled CH to acquire the homes at a modest price, while also allowing AHC to recoup its investment. A win-win partnership for all.


Photo caption:  AHC Inc. partnered with Montgomery County’s Department of Housing and Community Affairs, to preserve six, two-bedroom condominium units as affordable homes in Gateway Commons in Clarksburg, MD. 

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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 7,000 apartment units in 52 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.

 

AHC Inc., City Officials and Partners Celebrate 78 New Affordable Apartments in Alexandria

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April 18, 2016 – City of Alexandria officials, project partners and residents joined AHC Inc. to celebrate the official grand opening of Jackson Crossing, a new affordable apartment building in Alexandria, VA on Saturday, April 16.

Developed by AHC Inc., a regional affordable housing developer based in Arlington, VA, the rental community is home to 78 families with incomes at or below 60% of the Area Median Income (approximately $65,000 annually for a four-person household).

“Jackson Crossing is AHC’s first affordable apartment community in Alexandria,” said Walter D. Webdale, AHC President and CEO. “With 40 years of experience developing affordable housing in the region, AHC is delighted to partner with Alexandria and is looking forward to opening at least two more projects in the City in the next few years.”

Jackson Crossing has 14 one-bedrooms, 51 two-bedrooms, and 13 three-bedroom apartments.  Five of the apartments are ADA accessible. The apartment community includes a 750-square-foot community room where programs and services are offered for residents, underground parking and a 700-square-foot roof terrace. The building includes many green features, is EarthCraft certified, and provides 25% higher energy efficiency than typical standards.

The property’s location, across the street from Potomac Yard and steps away from DASH, Metroway/bus rapid transit and Metro options, adds to the desirability of the apartments. Market-rate condominiums and town homes are across the street and the Capitol dome is visible in the distance.

“The City values its partnership with AHC and is very pleased to be celebrating the addition of 78 new affordable homes at Jackson Crossing in such an amenity-rich area,” said City of Alexandria Mayor Allison Silberberg.

More than 500 people were on a waiting list when the apartments opened. Today’s residents are a diverse group of people from all walks of life, including senior citizens, veterans, a former teacher’s aide, a bus driver, flight attendants and families with children of all ages.

The Alexandria City Council approved the affordable housing project in 2013. The city loaned $2.5 million to AHC and also transferred a city-owned parcel of land to AHC for the project. Six adjacent parcels assembled by AHC make up the rest of the site.

Jackson Crossing was designed by Bonstra|Haresign Architects and built by Harkins Builders Inc.  It was financed by loans from Capital One Bank, the City of Alexandria, Low Income Investment Fund (LIIF), NeighborWorks America, AHC Inc., and 9% Low-Income Housing Tax Credit equity from Hudson Housing Capital issued by the Virginia Housing Development Authority (VHDA).

Photo caption:  City of Alexandria officials, including Mayor Allison Silberberg and City Council members, AHC staff, project partners, and residents cut the ribbon at Jackson Crossing, 78 new affordable apartments in Alexandria, VA, on Saturday, April 16. (Photo by John Dawson, Harkins Builders)

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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 7,000 apartment units in 52 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.

 

AHC Inc. and PN Hoffman Win Right to Develop Southwest DC Parcel

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March 30, 2016 –  The DC Office of the Deputy Mayor for Planning and Economic Development (DMPED) has selected AHC Inc., PN Hoffman and several other partners to develop Waterfront Station II, a 59,000-square-foot lot adjacent to the Southwest Waterfront Metro station in Washington, DC. This is the last of the Waterfront Station parcels in the Southwest community.

PN Hoffman is the senior partner and AHC is developing the affordable housing component. Other partners include ER Bacon Development, LLC; CityPartners; and Paramount Development LLC.

Designed by Torti Gallas, the 400,000 square-foot, mixed-income, mixed-use building will include 133 affordable apartments (30% of the total), 310 market-rate apartments, a 10,000-square-foot black box theater and cultural artist space, and approximately 20,000 square feet of neighborhood-serving retail. The project is being designed to achieve LEED Gold certification.

“AHC is delighted to provide the affordable housing piece of this vibrant project, which will bring much-needed quality affordable living opportunities to the Southwest community and help residents live closer to where they work, the Metro and retail opportunities,” said Walter D. Webdale, AHC President and CEO.”

The community-minded proposal won the neighborhood’s support earlier in the application process – thanks to its diverse housing for a mix of incomes, neighborhood-serving retail, and unique cultural offering that aims to continue building DC’s Southwest neighborhood as a premier arts and cultural destination.

“The Southwest Waterfront is experiencing a renaissance unlike anything else in the District,” said PN Hoffman founder and CEO Monty Hoffman. “We are confident that our plan to revitalize a key portion of 4th Street SW will enhance the livability and allure of the neighborhood.”

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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 7,000 apartment units in 52 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.