Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

SSC2011_David CristealPPT

678 views

Published on

Published in: Business, Real Estate
  • Be the first to comment

  • Be the first to like this

SSC2011_David CristealPPT

  1. 1. Affordable Housing near Metro in Arlington Dept. of Community Planning, Housing and Development Housing Division September, 2011
  2. 2. Presentation Summary <ul><li>Arlington Context </li></ul><ul><li>Affordable Housing Tools </li></ul><ul><li>Examples </li></ul><ul><li>Outcomes </li></ul>
  3. 3. Decent Location
  4. 4. Arlington’s Urban Village M M M M M Lower Density Zoning Lower Density Zoning
  5. 5. Tools <ul><li>Plans </li></ul><ul><ul><li>Ft. Myer Heights North, Columbia Pike, Crystal City, East Falls Church & Columbia Pike </li></ul></ul><ul><li>Dollars – Financing </li></ul><ul><ul><li>Capital subsidies </li></ul></ul><ul><ul><ul><li>Local trust fund and other sources </li></ul></ul></ul><ul><ul><li>Rent subsidies </li></ul></ul><ul><ul><ul><li>Local housing grants and fed Housing Choice Vouchers </li></ul></ul></ul><ul><ul><li>Tax Policy </li></ul></ul><ul><ul><ul><li>Partial exemption on real estate assessments </li></ul></ul></ul><ul><li>Density – Planning and Zoning </li></ul><ul><ul><li>The “Affordable Housing Ordinance” </li></ul></ul><ul><ul><li>Bonus Density </li></ul></ul><ul><ul><li>Special Affordable Housing Protection District </li></ul></ul>
  6. 6. Columbia Pike Plan <ul><li>Mixed Use & Income Transit Corridor </li></ul><ul><li>Affordable housing as key component </li></ul><ul><ul><li>Preserve all 60% MARKs (approx. 3,200) </li></ul></ul><ul><ul><li>Preserve 1/2 of 80% MARKs (approx 1,700) </li></ul></ul><ul><li>Long-term time horizon </li></ul>
  7. 7. Parc Rosslyn – Mixed Income <ul><li>Old - Rosslyn Ridge </li></ul><ul><ul><li>22 apartments </li></ul></ul><ul><li>New - Parc Rosslyn </li></ul><ul><ul><li>238 apartments </li></ul></ul><ul><ul><ul><li>101 affordable </li></ul></ul></ul><ul><ul><ul><li>137 market rate </li></ul></ul></ul><ul><li>Park density </li></ul><ul><ul><li>$5.7 mil value </li></ul></ul><ul><li>County loan $6.3 mil </li></ul><ul><li>LEED Certified (Silver) </li></ul><ul><li>TDC = $70 mil - $294k/unit </li></ul><ul><li>Rosslyn & Courthouse metro stations </li></ul>
  8. 8. Views at Clarendon <ul><li>Mixed-income </li></ul><ul><ul><li>116 apartments </li></ul></ul><ul><ul><ul><li>70 affordable </li></ul></ul></ul><ul><ul><ul><li>46 market rate </li></ul></ul></ul><ul><li>Air Rights </li></ul><ul><ul><li>$5.6 mil value </li></ul></ul><ul><li>County loan $13.1 mil </li></ul><ul><li>Bonus Density </li></ul><ul><li>LEED Certified (Silver) </li></ul><ul><li>TDC = $50 mil - $430k/unit </li></ul><ul><li>Clarendon metro station </li></ul>
  9. 9. The Jordan – Affordable Housing/Mixed Use <ul><li>Original Jordan Manor </li></ul><ul><ul><li>24 affordable apts </li></ul></ul><ul><li>New - the Jordan </li></ul><ul><ul><li>90 affordable apts </li></ul></ul><ul><li>Part of mixed use redevelopment </li></ul><ul><ul><li>Density - $5.8 mil value </li></ul></ul><ul><li>County loan $7.8 mil </li></ul><ul><li>TDC = $31 mil -$ 344k/unit </li></ul><ul><li>Ballston metro </li></ul>
  10. 10. Buckingham Villages – Mixed Income/Use <ul><li>Originally 456 apts </li></ul><ul><li>Redevelopment threat </li></ul><ul><ul><li>By-right townhouses </li></ul></ul><ul><li>Community process to re-direct outcome </li></ul><ul><li>Site Plan </li></ul><ul><ul><li>Apts. & Townhouses </li></ul></ul><ul><li>Existing apts </li></ul><ul><ul><li>County purchase </li></ul></ul><ul><ul><li>Historic renovation </li></ul></ul><ul><li>County purchase for open space & streets </li></ul><ul><li>3/4 mile to metro/amenities </li></ul>
  11. 11. Outcomes <ul><li>6,300 affordable rental unit developed or preserved since 1980 </li></ul><ul><ul><li>14.5% of rental stock </li></ul></ul><ul><li>Over 500 affordable ownership units </li></ul><ul><li>All public-private partnerships </li></ul><ul><li>For more information visit www.arlingtonva.us/housing </li></ul>

×