M id A tlantic Real Estate Journal — October 21 - November 17, 2022 — 5A


An innovative development approach led to the creation of 240 apts. for low-income seniors County and state leaders celebrate grand opening of Lake Anne House in Fairfax County

ESTON, VA — En- terprise Commu- nity Development and Fellowship Square celebrated the grand opening and ribbon cutting of Lake Anne House, featuring 240 modern apartment homes for low-income seniors in Reston. Key project partners joining this celebration in - cluded Virginia Housing, Fairfax County Board of Supervisors, Fairfax County Redevelopment and Housing Authority, Virginia Department of Housing and Community Development, Capital One and the U.S. Department of Housing and Urban Development (HUD) . The in-person event marked the end of a multi-year effort to redevelop the 1970s-era hous - ing community and preserve affordable housing in Fairfax County, one of Virginia’s most expensive counties. “Lake Anne House is an ex - ample of the high-quality af - fordable housing we can build with ingenuity, tenacity, and partnership. It is what fixing our housing supply looks like - a demonstration of how we can work collaboratively at all levels to build and reha - bilitate housing - project by project, block by block, com - munity by community - across the country,” said United States Deputy Secretary of Housing and Urban Develop - ment Adrianne Todman , who spoke at today’s event. “The Biden-Harris Adminis - tration has prioritized hous - ing supply and affordability, and HUD partners with com - munities to build and rehab homes like Lake Anne House across the country each day.” “This new state-of-the-art building in terms of energy efficiency and accessibility sets a new standard for what affordable housing can be. Most importantly, it will enable financially fragile older adults to be able to age in place here in Northern Virginia for many years to come,” said Christy Zeitz , CEO of Fellowship Square. R

from the original building to the new Lake Anne House in phases over the summer. Demolition of the now vacant circa-1970 buildings on the east half of the site will occur by the first quarter of 2023, and the land will be sold for future townhomes to a third- party homebuilder. Lake Anne House is located at 11444 N. Shore Drive, Reston, in Fairfax County, Virginia. The architect for Lake Anne House is Grimm + Parker Architects , and the civil engineering firm is Charles P. Johnson and Associates . The owner’s rep - resentative is Orr Partners , and the general contractor is Bozzuto Construction . The building is managed by S.L. Nusbaum Realty , and Enterprise Community Development will provide resident services. To bring the vision to life, the development team secured project-based rental vouch - ers for 100% of the units and secured financing to meet its ambitious goal. The Fairfax County Redevelopment and Housing Authority awarded the project 122 new project- based vouchers, and HUD transferred and assigned all remaining vouchers from the old Fellowship buildings. The project financing incorporated $46.5 million in tax-exempt bond financing from the Vir - ginia Housing and a $700,000 loan from the Virginia Housing Trust Fund. Additionally, the financing package contained $21.5 million in Low-Income Housing Tax Credit equity provided through Enterprise Housing Credit Investments by Capital One, $3 million in Blueprint Funding from the Fairfax County Redevelop - ment and Housing Authority, $7.2 million in bridge financ - ing from the Enterprise Com - munity Loan Fund and equity from Enterprise Community Development and Fellowship Square. The market proceeds from the sale of the land under - neath the old Fellowship build - ings will provide repayment of all bridge financing. MAREJ

Show from left: Fairfax County supervisor for the Hunter Mill District Walter Alcorn; senior director, Real estate development for Enterprise Community Development Matt Engel; chief of programs for Virginia Housing Tammy Neale; Lake Anne House resident Steve McAvoy; Commissioner, Fairfax County Redevel- opment and Housing Authority, Hunter Mill District, Richard Kennedy; Capital One senior VP and senior capital officer for the Mid-Atlantic Region Ed Delany; Fellowship Square CEO Christy Zeitz; Enterprise Community Development president and CEO Brian McLaughlin; Scott Hoekman, president, Enterprise Housing Credit Investments; Director of Fairfax County Redevelopment and Housing Authority Thomas Fleetwood; Director of Partnerships and Communication for Jeffrey C. McCay, Chairman, Fairfax County Board of Supervisors, Natalie Nguyen Woodruff. Photo credit: Harry Connolly

the organization would con - struct a new building on an underutilized portion of the site. This would enable the seniors to relocate only once to their new apartments once the building was completed and enabled the developer the ability to create homes with improved accessibility, energy efficiency and numer - ous amenities. “When you look at Lake Anne House today, it’s easy to see its beauty and cut - ting-edge design. But there’s so much more,” said Brian McLaughlin “There’s a ter - rific story of working hand- in-hand with residents, of partnerships with the County and financing partners, and of staying determined and focused through an unprec - edented and difficult pan - demic. There’s so much to celebrate and be proud of in this moment.” Enterprise Community Development and Fellowship

While Reston is now one of the most expensive zip codes in the state, residents at the Lake Anne House – many of whom live on Social Security or Supplemental Security In - come alone, with an average income between just $10,000- $15,000/year – are able to live independently in the dynamic Reston community. In 2015, nonprofit senior housing operator Fellow - ship Square issued an RFP to redevelop the Lake Anne Fellowship House, an aging senior housing community built in the 1970s. Communi - ty Preservation and Develop - ment Corporation (Enterprise Community Development’s predecessor) responded with a novel solution to best meet the needs of Fellowship Square and its community of senior residents (age 62+) . Instead of updating the cur - rent building and causing its residents to inconveniently relocate during renovation,

Square took on this innova - tive development approach and constructed the new building adjacent to the origi - nal Lake Anne Fellowship House. The new Lake Anne House includes 56 studios, 178 one-bedroom and six two-bedroom apartments. Enhancements include nu - merous amenities for its older adult residents, including a fitness center, arts and crafts room, social hall, sunroom, game room, outdoor terrace, wellness clinic for visiting medical professionals, and on-site management and resi - dent services offices. All units incorporate Universal Design standards, which were not in place when the original building was constructed in the 1970s. Fifty-four of the 240 units are fully handicap accessible, and the building is Earthcraft and EnergyStar certified. Residents were provided relocation support and moved

Made with FlippingBook interactive PDF creator