Pennrose, Community Housing Partners, and the Fairfax County Redevelopment and Housing Authority (FCRHA) have announced the financing for the 33-acre North Hill development in the Mount Vernon District of Fairfax County, Va.
The initiative includes 279 mixed-income family and senior rental apartments, for-sale townhomes, and a new 12-acre community park. Construction is slated to begin this month.
The multifamily portion of the development will consist of five four-story buildings facing Richmond Highway. The buildings include 216 affordable family apartments and an additional 63 units of affordable independent living for seniors.
The 175 market-rate, for-sale townhomes will be built along Dart Drive. The 12-acre public park will be located east of the apartments and north of the townhomes, and the public plaza will be built on the corner of Dart Drive and Richmond Highway.
“Pennrose is proud to work alongside our development partners to execute our shared vision for the site and achieve the housing authority’s longtime goal of adding more high-quality, affordable housing options to the neighborhood,” said Ivy Dench-Carter, regional vice president at Pennrose. “The comprehensive plans for the North Hill development are a testament to the power behind public-private partnerships and will spur further investment in the region.”
The FCRHA purchased the site, the former Woodley-Nightingale Mobile Home Park, decades ago with the intent to bring high-quality, affordable housing to the area. The work began with the development of the Woodley Hills Estates mobile home community on the south side of Dart Drive. Now, after years of discussions, planning, and community engagement, the transformation of the remaining 33 acres will move forward through the public-private partnership.
The FCRHA has made significant contributions to the multifamily/senior affordable housing project. In addition to contributing 12 acres for use as a park and another 8 acres for the site of the buildings, the FCRHA’s contributions include awarding 68 federal project-based vouchers and $4.4 million for the affordable housing development—or about $16,000 per apartment.
Financing for the four projects includes tax-exempt and taxable financing and 9% and 4% low-income housing tax credits through Virginia Housing. FCHRA has provided Blueprint and Community Development Block Grant funds in addition to project-based Section 8 rental housing assistance to make units affordable to families and seniors. The Virginia Department of Housing and Community Development has contributed HOME as well as state and federal housing trust funds. Banking partners include Bank of America and Truist Bank.
Pennrose is active throughout the Mid-Atlantic region, developing residential communities in Maryland, Virginia, St. Thomas Virgin Islands, and Washington, D.C. Most recently, Pennrose began leasing at Pointe View at Aspen Hill, a 120-unit, affordable senior housing community in Silver Spring, Md.
