Nina Janopaul, President/CEO, [email protected]
Arlington Partnership for Affordable Housing
APAH owns, develops and preserves quality homes that are affordable and enhance the Arlington community.
Creating New Affordable Homes on Columbia Pike
2012 Leckey Forum
The Need for Affordable Housing is Increasing:
CAFs40-60% MARKS
60-80% MARKS
Market Rate
(>80%)Unknown
Total rental stock
2000** 4,307 units 17,500 8,500 4,685 3,035 38,027
2011 5,900 units 5,298 11,017 21,340 0 43,555
change in market share
+ 3% - 34% + 2% + 37%
Affordable Housing on Columbia Pike
14%
12%
25%
49%
Arlington County: Overall43,555 units
Committed AffordableUnits (CAFs)
60% Market AffordableRentals (MARKS)
80% Market AffordableRentals (MARKS)
Market Rate (>80%)
Unknown
13%
32%35%
19%4%
Columbia Pike9,077 units
CAFs60%
MARKS80%
MARKS
Market Rate
(>80%)Unknown Total rental stock
Arlington rental stock (overall) 14% 12% 25% 49% 0% 43,555
Columbia Pike rental stock 13% 32% 35% 19% 4% 9,077
Based on 2011 data
Columbia Pike BaselineColumbia Pike
CAFs 1,204
60% MARKS (40-60%)
2,924
MARKS (60-80%)
3,191
Market Rate (>80%)
1,707
Unknown 51
Total Rental Stock
9077
Neighborhood Planning Process
Potential CAFs Achieved Through Increased Density = 1800 units
SedonaDeveloper: JBG
Under construction in Rosslyn
Original site: 84 units (92 bedrooms)
New construction: 454 units
Affordable housing: 54 units (92 bedrooms)
In Rosslyn, JBG is building Sedona. JBG used the 25% bonus provision that allowed them to build 454 units of which 54 (92 bedrooms) will be affordable housing.
Innovation,Mixed Income
Example: Bonus density onsite for affordable units
New CAF Density Approved = 1300 units(on Committed Affordable sites)
Current CAF owners: APAH, AHC, Silverwood and Kettler
Columbia GroveYear Built: 1954
APAH purchased: 2003
Renovated: 2009
Neighborhood: Columbia Forest
# of Units: 208
# of Affordable Units: 130
Unit Sizes: 1 and 2 bedroom
Under Neighborhood Plan, could add 200-400 new units.
Preservation
Example: Potential for increased density at existing CAF site
Transfer of Development Rights = up to 1350 units
• Sending sites– Barcroft– Fillmore Gardens
• Receiving sites (assumes 3:1 ratio) – “Alternative heights” on
East End (300 units)
– New density on Pike nodes (450 units)
– New density off the Pike (600 units)
– New density onsite at Barcroft
Example: Potential transfer of development rights
Under the Neighborhood Plan property owners could sell density to commercial developer.
Fillmore Gardens Apartments559 one and two bedroom units on 24 acres
Barcroft Apartments1318 one, two and three bedroom units on 57 acres
Potential Arlington County Subsidy Needs
• AHIF need estimated at $85,000/unit for 3300 units not provided onsite• Consider new Tax Increment Financing to supplement AHIF• $280M total need, assumed without inflation, spread over 30 years at $9M/year
Pike Plan Identified Affordable Home Ownership a Priority
• 3,679 condos identified along Columbia Pike• Average price of $196,000 worth over $700 million in home ownership• Pike Plan recommended technical assistance to preserve this valuable
resource for first-time, low and moderate income buyers