The county has designated a pair of affordable housing complexes as “revitalization areas” in an effort to help them secure more funding.
The new designation, which the Arlington County Board approved on Monday, affects renovation projects at Arna Valley View in Long Branch Creek and sites C, D and E of the Marbella Apartments project near Rosslyn. It is meant to help with a funding application at the Federal Home Loan Bank of Atlanta’s Affordable Housing Program.
“Applying for FHLB-Atlanta AHP funding is a highly competitive process with points awarded to projects that meet specific criteria, and these funds could serve as another source to offset unanticipated increases to the scope of work during rehabilitation,” a county report says.
The sites, according to the report, meet state criteria for revitalization areas because “private enterprise and investment are not reasonably expected, without assistance, to produce the construction or rehabilitation of decent, safe and sanitary housing and supporting facilities that will meet the needs of low and moderate income persons and families.”
The County Board previously designated Marbella sites A and B as revitalization areas in February 2022.
The Arlington Partnership for Affordable Housing began rehabilitating apartments at Arna Valley View and Marbella sites C, D and E in early 2023, the report says. The former project involves 101 units at 2300 25th Street S., while the latter involves 62 units at 1300 and 1305 N. Pierce Street.
To support the project in July 2022, the County Board added $1.2 million in new funding and approved the restructuring of $11.4 million in existing loans.
