June 6, 2019
Community Housing Partners (CHP), a Virginia-based provider of affordable and sustainable housing, recently received $2.3 million in Affordable and Special Needs Housing funding for the Residences at North Hill, a real estate development project in Fairfax County, Virginia.
At an event in Arlington, Virginia Governor Ralph Northam more than $11 million in Affordable and Special Needs Housing loans for 17 projects, including CHP’s North Hill, to create or preserve 1,283 affordable housing units for low-income Virginians around the commonwealth. CHP received two bonds using both Virginia Housing Trust Fund and HOME funding for the Fairfax County development.
“My administration is working hard to find innovative ways to reduce homelessness, expand access to quality affordable housing, and address evictions in Virginia,” said Northam in a statement following the event. “The Affordable Special Needs Housing program provides Virginia the necessary resources to transform our housing stock and help create vibrant, thriving communities for all Virginians, in every part of the Commonwealth.”
According to the governor’s statement, Affordable and Special Needs Housing loans are awarded through a competitive process administered by the Virginia Department of Housing and Community Development. The Virginia Housing Trust Fund is a key source of financing for these affordable housing initiatives to support moderate- and low-income families. The governor and the state legislature doubled the Virginia Housing Trust Fund in a recently completed budget cycle.
Located off Richmond Highway in the Mount Vernon District of Fairfax County, the Residences of North Hill will be part of a mixed-income community featuring both affordable and market-rate housing. CHP was selected to develop 279 multifamily rental units in six buildings with structured parking. Of these, 60 apartments will be dedicated to affordable senior housing. CHP anticipates closing on the development by the end of the year.
