Arlington Partnership for Affordable Housing breaks ground on $91 million project – Virginia Business – June 8, 2016
The Arlington Partnership for Affordable Housing (APAH) held a groundbreaking ceremony on Wednesday to mark the beginning of construction on its newest project, Columbia Hills Apartments.
“APAH is thrilled to break ground on Columbia Hills and start construction on 229 much needed affordable homes for Arlington,” Nina Janopaul, APAH president and CEO, said in a statement. She added that the project “will contribute significantly to meeting a goal of preserving 3,000 affordable homes along Columbia Pike.”
Columbia Hills will be a $91 million, eight-story apartment complex that includes community rooms for resident programs and a relocated playground for young children.
Built on 1.2 acres of APAH’s land adjacent to the nonprofit’s Columbia Grove Apartments, Columbia Hills will include 64 studio apartments, 27 one-bedroom units, 110 two-bedroom units, and 28 three-bedroom homes. The apartments are affordable to low-income households earning 60 percent or area median income (AMI), including 10 for households below 40 percent AMI and 39 for households below 50 percent.
The project is located at 1010 Frederick St. a block off Columbia Pike. It includes land donated by APAH and M&T Bank, federal low-income housing tax credits and innovative hybrid financing. Arlington County loaned $18.5 million from its Affordable Housing Investment Fund (AHIF) project, which will be repaid by APAH into the county’s revolving fund. The Federal Home Loan Bank of Atlanta and the Virginia Housing Trust Fund also are providing funding.
