Thursday, August 18, 2011

County Rolls Out Arlington Mill Next Wednesday


Arlington will roll out the pomp next Wednesday for Arlington Mill, a community center on Arlington's Columbia Pike that will soon be followed by an affordable housing project. The county demolished the previous buildings last spring, and will likely start actual construction next month.

The community center portion of the project will cost an estimated $24 to 25 million and include a gym, learning center, public plaza and garage, crafted by architects at Davis Carter Scott. Residences on the north side developed by Arlington Partnership for Affordable Housing (APAH), and designed by Kishimoto Gordon Dalaya Architecture (KGD) are scheduled to begin construction in 2012 with a targeted completion date of late 2013. No general contractor has been selected yet.

Under Arlington's agreement with APAH, the county will build the garage for both the community center and the residential portion, and APAH will then reimburse the county for its expense. "We are hoping to close and break ground...sometime towards the end of Q2 2012" says David Perrow, Project Manager for Arlington Mill. The affordable housing provider will be waiting in the wings, starting work on housing when the county finishes construction.

Residences will include 121 "tax-credit units" that will be open to individual making 60% or less of area median income. In return for affordable housing, the state of Virginia has granted APAH a $2.13m tax credit per year for 10 years, a credit that can be marketed to a financial partner. "We can sell that on the equity market," says Perrow. Construction of the community center should complete by next summer.

Arlington, Virginia real estate development news

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