AHC Inc.Building Affordable Housing & Strong Futures Since 1975

Today’sbiggest

challenges…

Finding land and

financing.

AffordableHousing

AHC is creating innovative financing strategies

• Creating partnerships with financing partners to make equity investments in our projects.

• Developed nearly 1,000 units without tax credits in VA and MD in last few years.

• Combining market rate and affordable units to help finance projects.

FindingDollars

AHC is working on a variety of development strategies in Arlington

• Preservation• Redevelopment• New Construction

FindingLand

AHC has 5 properties with 644 apartments on Columbia Pike with possible opportunities

for 2 more properties with about 200 units.

Columbia Pike

1. The Serrano – 280 units

2. Possible site

3. Harvey Hall – 116 units

4. The Shell – 83 units

5. Arbor Heights – 198 units

6. Possible site

7. Key Gardens – 22 units

The Shell83 apartments

(#4 on map)

• Hope to complete construction by Thanksgiving & have residents move in by end of year.

• Green roof with storm water management retention system.

• EarthCraft certification.

• Interior courtyard for residents with open sky, benches and plants.

The Serrano 280 apartments

(#1 on map)

• Financing without Low Income Tax Credits.

• First large-scale project to preserve workforce housing.

• 50% for households earning 80% AMI; 30% unrestricted, market-rate units; 20% phased in at 60% AMI

• Total development costs: $62 million

o $16.35 AHIF loan from Arlington Countyo $41.4 million Freddie Mac loano $4 million equity investment from AHC

South Arlington

• Redevelopment project.

• Currently 2 aging buildings with 137 units – 80% affordable and 20% market rate.

• Proposing 287 units – including at least 63 more affordable units.

• Currently in site plan review process.

The Berkeley2900 South Glebe Road

Ballston

• Working with Arlington County to purchase and preserve property.

• 20-acre site.

• 52-building community.

• 512 apartments; 233 are committed to 60% AMI.

Historic Ballston Park351 North Glebe Road

Courthouse Woodbury Park2335 North 11th Street

• Built in 1940s; added to National Register of Historic Places in 2004.

• All units will be substantially renovated.

• 204 affordable apartments; 160 market rate.

• Two 400-square-foot additions proposed for new community center, fitness center and management office.

• Hoping to start construction in fall; and complete by spring 2017.

• $109 million development cost.

• Using Low Income Tax Credits and Historic Tax Credits – no AHIF.

Rosslyn

• 41 units, 1940s building.

• 5 blocks from Rosslyn Metro.

• Proposing to redevelop the property into mixed-income community with 82 affordable rental apartments and 76 market-rate condos.

• Plan would double number of affordable apartments without using AHIF dollars.

• We could use your support to move project forward. See the flier on your chair.

Key Boulevard 1537 Key Boulevard

• Proud of the 100% graduation rate among our high school seniors.

• Our 60th high school senior will graduate this year!

• After-school students are significantly improving reading skills.

• 94% of Summer Camp students showed NO summer reading loss.

• We couldn’t do this without so many wonderful volunteers.

• Last year, 284 volunteers worked 5,263 hours.

• We are also grateful for our 30+ community partners.

Resident ServicesServing Families, Children and Senior Citizens for 21 Years

Working Together to Increase Public Support

• Another challenge we face is convincing the community that a diversity of housing is critical for Arlington’s long-term economic vitality.

• Arlington County and Alliance for Housing Solutions are working hard on this issue.

• Important we all work together to get the message out.

FindingSupport

AHC Inc.Building Affordable Housing & Strong Futures Since 1975