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600 sq feet

Micro-Units: The Future or Faux Fad Introduction to a panel discussion preceding the 2013 State of Affordable Housing. 600 sq feet. 1 person “affordable” = $1,128 studio @ 60% AMI -but- new 576 Sq. Ft. Studio lists @ $2,095. “More supply will drive down price”

jacqueline-frederick
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600 sq feet

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  1. Micro-Units: The Future or Faux FadIntroduction to a panel discussion precedingthe 2013 State of Affordable Housing

  2. 600 sq feet

  3. 1 person “affordable” = $1,128 studio @ 60% AMI -but- new 576 Sq. Ft. Studio lists @ $2,095

  4. “More supply will drive down price” • “What about those Micro-Units I’ve been reading about?”

  5. Market rate affordable housing should be the primary means of providing affordable housing. • A range of housing choices should be available throughout the County to accommodate households of all income levels, sizes and needs. -Arlington County Housing Principles • The 2012 Countywide average rent increased to $1,999, an increase of 13% over the 2011 average.

  6. ???? > Answers NYC thru Sept 15th

  7. BIG!!! “Clear eyes, full hearts can’t lose”

  8. Opening Presentation Deliberate Questions Audience!

  9. Thanks to: Joan Jolly Pat McGrady The Walter Reed Staff

  10. SOAH 2013 - APAH

  11. The Arlington Partnership for Affordable Housing Our Mission To develop, preserve, own and advocate for quality affordable housing in Arlington, and to promote opportunity for our residents through partnerships and programs. AHS State of Affordable Housing May 2013

  12. Arlington Mill Parc Rosslyn APAH to buyout, Paradigm, our co-developer, in 2013 Construction will be completed in December 2013

  13. Carlyn Springs Redevelop APAH property in Ballston Metro area Existing: 27 units Built in 1963 Transit-oriented location • Site plan accepted May 2013 • 104 units • New APAH office • Seeking County approvals in 2013 • Applying for tax credits in 2014 • Delivery in 2016 14

  14. Redevelopment in Rosslyn area Queens Court Redevelopment Queens Court Apartments 44,727 sq. ft. 15

  15. APAH requirements/constraints • Queens Court Redevelopment Goals • Replace aging 39-unit building with a minimum of 100 units, but ideally 250 committed affordable units • Leverage one of APAH’s most valuable assets – one acre in Rosslyn • Create an efficient and cost effective deal which will compete favorably in Virginia’s competitive tax credit competition • Total development cost per unit cap ($350K per unit) starting 2014 • Major affordable housing opportunity in Rosslyn 16

  16. Queens Court Redevelopment Summary of Options Max density = more affordable units atop new fire station and 1 acre park created Medium density = more affordable units atop new fire station Less density/ Simpler Execution = APAH redevelops existing site alone; Wood Construction and lower costs

  17. APAH Resident Services – New Partnerships Greenbrier Learning Center AFAC Food Distribution The Reading Connection ACE And Coop Ext Service Energy Masters

  18. Our Vision A diverse and inclusive, transit-oriented, sustainable community that welcomes and values all residents. Our Role Marry best practices in affordable housing finance and development with a deep commitment to the local community to advocate, preserve and build affordable housing.

  19. SOAH 2013 - WHDC

  20. COLONIAL VILLAGE 162 Units – 80% Affordable – Historic Landmark COMPLETE!

  21. PIERCE QUEEN 193 Units – 40% Affordable – A New Landmark CONSTRUCTION START - 2014

  22. SOAH 2013

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