Alexandria Housing Develoment Corporation

Background: Solving the affordable housing problem in Alexandria takes lots of new ideas. When the City brokered a deal with the developer of the Potomac Yard complex to obtain donated land and $6.6 million toward the cost of a new fire station, City planners recognized that the new firehouse could provide a rare opportunity to create additional housing for low-income residents and city workers, many of whom have been priced out of the local housing market. The big question was whether families should be housed over a firehouse; would it be too noisy? However, times have changed in the way firehouses operate. New regulations prohibit fire trucks from turning on their sirens until they have moved a distance from the firehouse and many new materials exist to mitigate sounds in the units above a firehouse. People who live next to firehouses report few problems. As a further incentive, the PY developers agreed to make a voluntary affordable housing contribution of $6 million to defray the cost of developing the affordable housing portion of the building. After extensive vetting of the project with the community, City officials agreed the project was a win/win for everyone and unanimously approved it.

AHDC's Role: AHDC was designated by the City to develop, finance, own, operate, and manage the residential portion of the project, and to maintain it as long term affordable housing. In March, 2007, AHDC submitted a successful application for low income housing credits and the project was awarded more than $10 million in tax credit equity. Our tax equity credit partner is RBC Capital Markets. The balance of the project financing is being provided through below-market mixed-use, mixed income loans available from the Virginia Housing Development Authority (VHDA). AHDC and the City of Alexandria held a joint Grand Opening for the project on October 17th and the units are being occupied.

Affordable and Workforce Housing: The four-story residential component consists of 12 one-bedroom, 49 two-bedroom, and 3 three-bedroom units, ranging in size from 700 to 1300 square feet. Forty-four units serve households with incomes at or below 60% of the area median income. The remaining twenty units are designated as "workforce" housing, serving households with incomes up to 80% of the area median income. Amenities include a fully secure building, a community room, a shared rooftop terrace, and underground parking. There is also a small commercial rental space on the first floor.

Design, Construction, and Management: This project provides an excellent example of "Smart Growth," with the ground level fire station LEEDS certified and the housing component designed in conformance with Earthcraft program guidelines on energy efficiency to provide maximum long term savings for residents. The project was awarded the Earthcraft Multifamily Project award for meeting all of the requirements of the program. The structure is a model of sustainable design, construction, and livability, designed by two leading architectural firms, Rust Orling and Lemay Erickson. Whiting Turner, a nationally recognized general contracting firm, was the builder of the project. The residential component is being leased, managed and operated by Equity Management, Inc. The resident manager, Joe Pyle, can be reached at thestation@equitymgmt.com or 703-751-0003.

Awards and Citations: This project has already won multiple prestigious awards and recognition. The most recent is a Virginia Housing Award, announced November 19th at the Governor's Housing Conference in Norfolk. These awards recognize outstanding and innovative efforts in crafting effective solutions to Virginia's complex array of housing needs. The Station at Potomac Yard was recognized in the newly created category, Mixed Use or Mixed Income Housing Development. This category celebrates the creation of economically diverse communities that address a range of human needs. The Station was also named a finalist in the Affordable Housing Finance 2009 Reader's Choice Awards in the master-planned/mixed use category and was featured in an article in the September issue of Quorum magazine. Governor Kaine visited the project in March of 2009 as part of his Renew Virginia program. The project has also been cited as an outstanding project award from the National Capital Area Chapter of the American Planning Association. Because of The Station project, the City of Alexandria was awarded a prestigious award from the U.S. Conference of Mayors given for Excellence in Public-Private Partnerships. (See the City of Alexandria News Release dated January 24, 2008.) The project has also been cited as a finalist for the National League of City's recognition awards for "Municipal Excellence" as well as a finalist for the Urban Land Institute's Ronald Terwilliger Center Workforce Housing Models of Excellence Award that recognizes exemplary developments that meet workforce housing needs in high cost communities. The Station was selected as a Building of America awardee and was featured in Real Estate & Construction Review - 2009 Eastern Seaboard Edition. The project was also featured in the Stewart Title Spotlights publication and in the April 2009 issue of Tax Credit Advisor.

For more details and background information about The Station at Potomac Yard project:

See "The Station at Potomac Yard: A Model of Innovative Planning," Jamie L. Rhoads, Quorum, September 2009.

See "Affordable Housing, Retail Space...and a Fire Station" by Stephen K. Coopers in the April 2009 issue of Tax Credit Advisor.

See the Press Release dated November 10, 2008 selecting The Station to be featured in the Real Estate & Construction Review - 2009 Eastern Seaboard Edition.

See "Good Neighbors" by Paul Erickson in the April 1, 2008 issue of Fire Chief.

See "Public/Private Partnerships Support Green Infill" by Deborah Myerson in the June 2008 issue of Urban Land.

See "Going Green With Affordable Housing" by Deborah Myerson in the Summer 2008 issue of Land Development.

Alexandria Housing Development Corporation
P.O. Box 11494
Alexandria, VA 22312 703/578-1835 telephone
703/578-3144 facsimile
info@housingalexandria.org