The Arlington Partnership for Affordable Housing (APAH) and E&G Group celebrated the grand opening of Loudoun View Senior Residences, a new affordable housing development within a master-planned community in the Sterling District of Loudoun County, Virginia.
Targeting independent seniors 62 years and older, the development includes 98 one- and two-bedroom apartments and incorporates Universal Design in the units to support the needs of all residents.
“We’re proud to bring new affordable homes to Loudoun County, and marking the occasion with our partners is truly special,” says Carmen Romero, APAH president and CEO. “Senior residents began moving in late last year and have enjoyed building a community here. APAH’s certified resident services programming provides onsite support at all our properties, including Loudoun View. Senior residents enjoy wellness programs, social events, grocery delivery, and so much more.”
Amenities at Loudoun View include in-unit washers and dryers plus shared use of the pool, walking path, and playgrounds within the entire planned community. The joint venture between APAH and E&G Group also provides on-site services and programs designed to meet seniors’ needs.
Jim Edmondson, a principal of E&G Group, noted in his remarks that "affordable housing is a community asset. Every such project not only serves its residents, but also demonstrates that the community cares about all its citizens. Loudoun County and its leaders care."
The $32 million development utilized multiple financing sources, including Loudoun’s Affordable Housing Trust Fund, the Virginia Department of Housing and Community Development, and the Northern Virginia Regional Commission. Nearly $11.5 million in low-cost loans came from Virginia Housing’s tax-exempt bond and REACH financing programs. The project was awarded low-income housing tax credits that were purchased by Truist Bank, raising about $13.5 million in equity.
Loudoun View Senior Residences utilizes a hybrid structure combining both 9% and 4% tax credits, making it APAH’s fifth deal to use the financing model.
Other project partners include general contractor Morgan-Keller Construction, architects Michael Wiencek + Associates, engineers Christopher Consultants, property managers S.L. Nusbaum Realty Co., and a legal team that includes Klein Horning and Walsh, Colucci, Lubeley & Walsh, and tax credit adviser Astoria, LLC.
