The Arlington County Board is set to consider a plan to lend about $11 million to a nonprofit organization looking to save affordable garden apartments in Westover.
The Board is scheduled to vote Saturday on the eight-figure loan from the county’s Affordable Housing Investment Fund. The financing would allow the nonprofit Arlington Partnership for Affordable Housing to buy eight apartment buildings in the neighborhood, according to the county. The purchase would account for 68 affordable units — all but four are one bedroom units — at an average acquisition cost of about $215,000 per unit.
“The Westover neighborhood in North Arlington has a substantial inventory of market and committed affordable apartments,” APAH says on its website. “But many have been eliminated, or are at threat of elimination.”
The vote comes as Westover comes to grips with the redevelopment of some area properties, including an aging garden apartment building that are being replaced with luxury townhouses.
The Arlington Green Party is lobbying for a local historic designation in an effort to make it harder to tear down Westover buildings or renovate them. Already, much of the neighborhood — which was developed between 1938 and 1948 — is a national historic district.
The Coalition of Arlingtonians for Responsible Development, which advocates for an equitable distribution of affordable housing across the country, is supporting the proposal.
“CARD hopes that this acquisition [by APAH] will enable families the opportunity to live in Westover and enjoy its excellent schools and amenities,” Kay Langenbeck, chair of the group’s housing committee, wrote in a letter to the Board.
The total estimated cost of acquiring and renovating the apartments is $27.2 million, according to the county staff report. The project will be completed in three phases.
Photo via Arlington Partnership for Affordable Housing