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AHC Inc. Building Affordable Housing & Strong Futures Since 1975

AHC Inc. Building Affordable Housing & Strong Futures Since 1975. Affordable Housing. Today’s biggest c hallenges… Finding l and and financing. Finding Dollars. AHC is creating innovative financing strategies

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AHC Inc. Building Affordable Housing & Strong Futures Since 1975

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  1. AHC Inc.Building Affordable Housing & Strong Futures Since 1975

  2. Affordable Housing Today’s biggest challenges… Finding land and financing.

  3. Finding Dollars 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.

  4. Finding Land AHC is working on a variety of development strategies in Arlington Preservation Redevelopment New Construction

  5. Columbia Pike The Serrano – 280 units Possible site Harvey Hall – 116 units The Shell – 83 units Arbor Heights – 198 units Possible site Key Gardens – 22 units AHC has 5 properties with 644 apartments on Columbia Pike with possible opportunities for 2 more properties with about 200 units.

  6. The Shell 83 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.

  7. 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 • $16.35 AHIF loan from Arlington County • $41.4 million Freddie Mac loan • $4 million equity investment from AHC

  8. South Arlington The Berkeley 2900 South Glebe Road • 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.

  9. Historic Ballston Park 351 North 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.

  10. Woodbury Park 2335 North 11th Street Courthouse • 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.

  11. Rosslyn Key Boulevard 1537 Key Boulevard • 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.

  12. Resident Services Serving Families, Children and Senior Citizens for 21 Years • 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.

  13. Finding Support 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.

  14. AHC Inc.Building Affordable Housing & Strong Futures Since 1975

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