The Arlington County Board solved two problems with one $10 million loan. At its Sept. 24 meeting, Arlington County Board unanimously approved the loan to allow the Arlington Partnership for Affordable Housing (APAH) to save historic Westover residences from redevelopment as luxury apartments and will add 68 units of new affordable housing to the county.
Sarah Pizzo from Arlington’s Community Planning, Housing and Development said the loan will allow the APAH to purchase eight buildings in the Westover neighborhood with 68 units, to be remodeled and converted to affordable housing upon turnover.
“We’re hoping this is a turning point for the neighborhood,” said Sue Campbell, a Westover resident. “This is a win for Westover.”
The units at Westover are currently considered market-rate affordable, meaning the units are affordable to low-income residents through market pricing. After their purchase by APAH in by January 2017, the properties will be remodeled and preserved as affordable housing for a minimum of 60 years. Current residents of the buildings will be given temporary housing as the properties are remodelled but will not be evicted if they exceed the less than 60 percent area median income requirement for low income housing.
“I urge you to keep the American Dream alive in Arlington,” said Jessica Chilin, and Arlington resident. “This cannot be done if you do not financially commit to the promise of an Arlington that is equitable, accessible, and affordable to all.”