June 8, 2020
Community Housing Partners (CHP), which provides affordable and sustainable housing across the Southeast and Mid-Atlantic, has joined project partners Pennrose and the Fairfax County Redevelopment and Housing Authority (FCRHA) in announcing the close on financing for the North Hill development in Fairfax County’s Mount Vernon District.
Located off Richmond Highway, the 33-acre development includes mixed-income family and senior rental apartments, for-sale townhomes, and a large community park. Construction is expected to begin this summer.
“The North Hill development will not only revitalize the Richmond Highway area in Fairfax County, it will also be a wonderful example of a truly inclusive, mixed-income community with both affordable and market-rate housing,” said David Schultz, Senior Vice President of CHP Real Estate Development. “Community Housing Partners is excited to bring our experience with affordable rental housing to this dedicated team of professionals.”
The multifamily portion of the development will consist of five, four-story buildings facing Richmond Highway. The buildings include 216 affordable family apartments and an additional 63 units of affordable independent living for seniors. North Hill will also include 175 market-rate, for-sale townhomes and a 12-acre public park. A public plaza will also be constructed.
CHP’s project partners expressed excitement about North Hill. “Pennrose is proud to work alongside our development partners to execute our shared vision for the site and achieve the Housing Authority’s longtime goal of adding more high-quality, affordable housing options to the neighborhood,” said Ivy Dench-Carter, Regional Vice President at Pennrose, a Philadelphia-based developer. “The comprehensive plans for the North Hill development are a testament to the power behind public-private partnerships and will spur further investment in the region.”
Robert Schwaninger, Chairman of the FCRHA, explained that this is a “transformative project for the Richmond Highway corridor, and a very proud moment for the FCRHA.” He added, “Putting together the financing to pursue a project of this magnitude is always an exercise in creativity, ingenuity, and resilience. Thanks to our dedicated staff at the Department of Housing and Community Development and the county, and to the cooperation and commitment of our partners to a common objective, we are excited to be in a position to proceed with a major keystone project that will serve for years to come as a catalyst for the future development of this area of the Route One corridor.”
Dan Storck, Supervisor of Fairfax County’s Mount Vernon District, explained that the development is a “game-changer.” He said, “It will bring much-needed affordable and market rate housing to Richmond Highway and support the area’s overall revitalization effort. With its mix of affordable rental housing for families and seniors, market-rate for-sale townhomes, and a new park, North Hill represents our strong commitment to inclusive development as we revitalize the Corridor.”
“North Hill demonstrates the epitome of common-sense projects – and our commitment to One Fairfax. Here, our housing authority and our private-sector partners are taking a significant amount of vacant, underutilized land and transforming it into a beautiful neighborhood to bring stability, security, opportunity, and accessibility to hundreds of our neighbors in need,” added Chairman Jeffrey McKay, Fairfax County Board of Supervisors. “This project is the product of years of community engagement and preparation and is reflective of the care and consideration of a wide variety of community interests.”
Financing for the four projects includes tax-exempt and taxable financing and 9% and 4% Low Income Housing Tax Credits through Virginia Housing Development Authority (VHDA). FCHRA has provided Blueprint and CDBG funds in addition to Project Based-Section 8 rental housing assistance to make units affordable to families and seniors. The Virginia Department of Housing and Community Development has contributed HOME, State, and Federal Housing Trust funds.