In 2017, AHC worked on 13 different development projects to produce nearly 1,800 new, preserved or renovated quality affordable apartments for low-income families, senior citizens, young professionals and other hardworking individuals in Virginia, Maryland and Washington, DC.
Some projects are already welcoming new residents, while others are still in the planning stages. No two projects are alike – reflecting the ongoing challenges in developing affordable housing. The obstacles may get even tougher as uncertainty in federal funding, tax reform, and the constant rise in land, labor and material costs adds to the complexity of developing affordable housing.
“At AHC, we are continually looking for creative ways to add much-needed affordable living opportunities in our region,” says President and CEO Walter Webdale. “We are investigating additional sources of funding, initiating new partnerships, and building on our relationships with local jurisdictions.”
New construction is the most visible way AHC adds affordable homes to communities. AHC has two construction projects taking shape – St. James Plaza in Alexandria, 93 new apartments on land previously owned by a local church, and Key’s Pointe in Baltimore, 68 new townhomes on a 62-acre site that will ultimately provide homes for 900 families.
Redevelopment of The Berkeley, an aging property in Arlington, breaks ground in early 2018. The project will include 256 affordable apartments in two new buildings and expanded activity space, including a community lounge, fitness center, playground and sport court. The development has won a $2.5 million allocation of competitive 9% tax credits. Arlington County has allocated a combined $20.9 million in loan funds for both buildings from the local Affordable Housing Investment Fund (AHIF).
Construction projects on the drawing board include an exciting development on the S.W. Waterfront in Washington, DC, and a creative partnership with the Episcopal Church of the Resurrection in Alexandria, which will result in affordable apartments and a new sanctuary on their existing site. AHC Greater Baltimore recently received a grant to jump start plans for a project that addresses a key need – housing for veterans.
Updating and preserving existing affordable apartment communities is an integral part of AHC’s mission. This year, AHC celebrated the grand re-opening of a comprehensive, two-year $110 million historic redevelopment at Woodbury Park. With 364 units, it is one of Arlington’s largest historic garden-style apartment communities.
Upcoming renovation projects include refinancing and updating several aging AHC properties in Arlington and preserving acquired properties in Fairfax County and Montgomery County.
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 53 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.