While the tear down and rebuild process usually results in the loss of affordable housing, the County is looking to make that an unattractive prospect for developers. According to the report, developers seeking to start new projects in historically protected segments of Fort Myer Heights will no longer be offered financial incentives. Instead, the plan encourages developers “to work closely with [County] staff to determine a suitable total affordable housing package” in non-historic areas.
The new declaration of policy means development proposals to wipe out affordable housing will be met with resistance by the county and, in the event that deal is made, that all residents of affordable housing be relocated to new units with the same price tag. Any new designs for non-historically protected buildings must offer at least 10% of its units as affordable.
The implementation of the Fort Meyer Heights North Plan marks the third such maneuver underway in the greater Arlington area. Last month, the Board approved the JBG Companies’ revised site plan for their Jordan Manor project in Ballston. The crux of the revisions is an almost four-fold expansion of the number of affordable housing units –from 24 to 90. And in neighboring Alexandria, the IDI Group Companies' (best known for their Leisure World developments in Maryland and Virginia) are still pursuing their bid to convert the 530-unit Hunting Towers apartment complex (pictured above) into 100% affordable housing, while constructing 4 buildings worth of "luxury" condominiums next door.
Arlington, VA real estate development news