| Arlington,
Virginia (February 25, 2003) - The Arlington Partnership
for Affordable Housing (APAH) is pleased to announce that the
Arlington County Board on Saturday approved their plans to purchase
the Columbia Grove Apartments, located at 1010 South Frederick
Street.
The Board's
approval includes a $2.82 million loan to purchase the property,
which will preserve 105 affordable housing units in the County.
Columbia Grove Apartments will become the 12th property that
APAH has acquired in its 14-year history. APAH's Executive
Director Douglas Peterson says getting the Board to support
the Columbia Grove purchase speaks to the County's commitment
to residents of all income levels.
"The
need for decent, affordable housing affects everyone, including
teachers, young professionals, police and firefighters,"
said Peterson. "As rental rates in Arlington continue
to rise, employers won't be able to attract and retain dedicated
employees."
The Arlington
Partnership for Affordable Housing is a private, nonprofit
organization founded in 1989 whose mission is to provide safe,
affordable housing to residents throughout the County. APAH
purchases and renovates apartment buildings and rents them
to low- to mid-income individuals and families. For more information
on the Arlington Partnership for Affordable Housing, visit
them online at www.apah.org.
To schedule
an interview with Executive Director Douglas Peterson, contact
Beth Offenbacker with Waterford Public Relations, Inc. at 703/683-4815
ext. 202 or via email at boffenbacker@waterfordpr.com.
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