(Updated 6/14) A pair of new affordable housing projects are headed to the City Council for financing.
Both of the new developments will have just under 100 units; all locked in at various levels of affordability.
“The development will serve families living in the Alexandria area,” the application from housing nonprofit Community Housing Partners said. “The project is new construction and will be located at 2712 Duke Street. The location overlooks the existing Witter soccer fields.”
The application said the new building will be 4-5 stories in height and will have 2 and 3-bedroom rental units, leasing offices, indoor bicycle storage, covered parking and tenant amenities.
The rent is restricted to 40% and 60% of Area Median Income (AMI).
A breakdown of financing showed that the nonprofit is requesting $9 million from “Alexandria/AMAZON”.
“The goals of the project are to advance the mission of Community Lodgings by greatly expanding the number of — and improving the quality of — affordable housing opportunities in the Arlandria neighborhood,” Community Lodgings, Inc. said in an application. “Furthermore, the project is intended to provide the sponsor with a long-term income stream that can support its other work in the community.”
The nonprofit is seeking a $450,000 loan for pre-development of the property, in addition to $50,000 the nonprofit has already received from the city.
“The predevelopment loan funds will be used to pay for architectural and engineering design, along with development consulting services and legal fees associated with the rezoning application,” the application said.
The new development will have 91 units. Like 2712 Duke Street, all units will be affordable at a variety of incomes: from 30% to 60% of AMI. The new development will add 30% and 40% of area median income options to the site; part of an effort to include options for lower income residents.
“The current population is very low and low-income households, the application said. “The target population is extremely low-, very low- and low-income households.”
The application said the new project will involve the demolition of the current apartment building with current residents relocated off-site while a new six-story structure is built.
Both loans are up for review at the Tuesday, June 14 City Council meeting (item 35).
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