Developers will launch the redo of Buchanan Gardens tonight at 5pm. The sprawling affordable housing complex built in 1949 will undergo $32m in renovations at the hands of low-income housing provider Arlington Partnership for Affordable Housing (APAH). The buildings will be gutted and renovated over the course of the next eighteen months.
Financed through loans and grants by the Virginia Housing Development Authority and the Arlington Housing Investment Fund, and with Low Income Housing Tax Credits and grants from private foundations, the housing will be available to those making 60% of AMI or less.
Wiencek+Associates and Hamel Builders will transfigure the 111-unit building into a more modern, greener version of itself, with new energy efficiencies and water saving features. Construction is expected to complete in December of 2012. APAH purchased Buchanan Gardens in December of 2009.
Arlington, Virginia real estate development news