The Station |
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 now fully occupied.
See The Station at Potomac Yard project featured in the REACH Virginia (Resources Enabling Affordable Community Housing in Virginia) Summer 2007 newsletter. REACH is VHDA's initiative to serve the housing needs of Virginia's diverse communities. Also, The Station project is being featured by VHDA as a "case study" for its Mixed-Use, Mixed-Income (MUMI) loan product. (Click on this link to view the Case Study.)
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, underground parking, pet friendly units, and nearby public transportation, employment, shopping, and schools. 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.
Community Room Rental: The Station's community room can be rented by community and government organizations for meetings for a fee of $25. Please contact the resident manager, Joe Pyle, at thestation@equitymgmt.com or 703-751-0003 for further details.
Awards and Citations:
This project has already won multiple prestigious awards and recognition:
HAND Achievement Award: AHDC will be a recipient of a 2010 Annual Achievement Award from the Housing Association of Non-Profit Developers (HAND) at the HAND Luncheon and Housing Expo on June 7th. The award recognizes the innovative approach to the expansion of affordable housing that has been demonstrated by AHDC's multi-use, multi-family project, The Station at Potomac Yard, in Alexandria. HAND supports a community of housing providers in the Baltimore-Washington DC-Richmond corridor.Virginia Housing Award: This award was 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.
Finalist in the Affordable Housing Finance 2009 Reader's Choice Awards: The Station was named a finalist in the master-planned/mixed use category.
Quorum, Tax Credit Advisor, and Stewart Title Spotlight: The Station was featured in articles in the September 2009 issue of Quorum magazine, the April 2009 issue of Tax Credit Advisor, and in the Stewart Title Spotlights publication.
Governor's Visit: Governor Kaine visited the project in March of 2009 as part of his Renew Virginia program.
APA Award: The Station was cited as an outstanding project award from the National Capital Area Chapter of the American Planning Association.
U.S. Conference of Mayors Excellence Award: 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.)
ULI Workforce Housing Award Finalist: 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.
Building of America Award: The Station was selected for a Building of America award and was featured in Real Estate & Construction Review - 2009 Eastern Seaboard Edition.
For directions to The Station click here.
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.
See "Approval Anticipated for Fire Station in Potomac Yard" by Brigid Schulte, Washington Post, February 22, 2007.
See City of Alexandria News Release dated May 18, 2007.
See the Presentation by Mayor William D. Euille to the Metropolitan Council of Governments at their Retreat on July 27-29, 2007.
See "Skinny Streets and Fire Trucks" by Reid Ewing, Ted Stevens, and Steven J. Brown, Urban Land. August 2007.
Go to http://Alexandriava.gov/PotomacStation.
| Alexandria Housing Development Corporation P.O. Box 11494 Alexandria, VA 22312 | 703/578-1835 telephone 703/578-3144 facsimile info@housingalexandria.org |
