Compounding Interests, Compounding Inequities


The Arden

Alexandria, VA

The Arden will be a seven-story, 126-unit multifamily community located a block from the Huntington Metro station at the intersection of Huntington Avenue and Biscayne Drive. The plan also includes 11 fully accessible units for individuals with disabilities and 7,500 sq. ft. of office space, which will allow Wesley Housing to relocate its main office to the property.

A 12-unit brick apartment building constructed in 1950, as well as two sets of duplex units and a parking lot for the apartments, currently occupy the site and will be demolished as part of the redevelopment plan.

Families who earn between 40 and 80 percent of the Area Median Income (AMI) will be eligible to live in The Arden. The building will have a total of 181 parking spaces, including 15 for the offices.

The Arden will be financed as a split 9%/4% hybrid LIHTC transaction. Construction began in Summer 2020 and is expected to be complete by Summer 2022.

Partners on this development include: County of Fairfax, Fairfax County Redevelopment and Housing Authority (FCRHA), SunTrust (now Truist), U.S. Department of Housing and Urban Development (HUD), Virginia Department of Housing and Community Development (HCD), Virginia Housing, Heffner Architects, Walter L. Phillips, and WCS Construction.

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