March 1, 2019
Board Approves $7.7M in Financing to Develop Affordable Housing in the Herndon Area
The Fairfax County Board of Supervisors has approved the Fairfax County Redevelopment and Housing Authority (FCRHA) to make loans totaling $7.7 million to SCG Development for the construction of three separate buildings consisting of a total of 274 units of affordable housing to be known as Arrowbrook Centre Apartments in the Herndon area (Dranesville District).
Within a mile of the Innovation Center Metro station, Worldgate shopping and restaurants, food stores and Clocktower Shopping Center, Arrowbrook will be affordable to households with incomes at 40 percent, 50 percent and 60 percent of the Area Median Income (AMI), which is around $117,200 in the Washington, DC Metro Area. That equates to a household income between approximately $ 46,880- $ 70,320 a year for a family of four. The mixed-use community will consist of studio, one, two, and three bedroom units to include 15 accessible units for disabled residents.
Financing for this project will be provided to SCG Development in the form of deferred loans from the FCRHA. The Board’s action supports the Housing Blueprint and strategies identifies in the Communitywide Housing Strategic Plan. It ensures individuals, families of modest means, and those with fixed or lower incomes have an affordable housing resource for at least the next 50 years.