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The area s housing affordability, availability crisis puts stress on low income individuals, housing affiliates

The area s housing affordability, availability crisis puts stress on low income individuals, housing affiliates
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Two U S Senators announce over $15 million in affordable housing funding for VA

Board Approves $4 Million for Affordable Housing Purchase

May 16, 2011 at 2:32pm The Arlington County Board on Saturday approved a $4 million loan that will help a local non-profit purchase a 134-unit affordable apartment complex. The Arlington Partnership for Affordable Housing (APAH) plans to use the loan to help purchase the Marbella Apartments (1301 N. Queen Street) in the Radnor/Ft. Myer Heights neighborhood.  APAH is in the process of securing about $10 million from the Virginia Housing Development Authority to complete the $13 million purchase. The Marbella Apartments include 120 existing committed affordable units, but the restrictions that keep the units affordable are set to expire in 2018. With its purchase, APAH will keep the units affordable for at least another 60 years, and will convert the complex’s 14 market rate units to committed affordable units.

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