JV Launches VA Affordable Housing
- Jul 19, 2017
Jefferson Apartment Group, SCG Development and the Fairfax County Redevelopment and Housing Authority have teamed to open Residences at Government Center, a 270-unit affordable housing development in Fairfax, Va.
“We are exceptionally pleased to open on our first dedicated workforce housing development,” Greg Lamb, Jefferson Apartment Group’s executive vice president and COO, said. “The Residences at Government Center brings a top-tier product to industrious families and individuals in the Capital region.”
Location, location, location
The property is located at 11851 Monument Dr., and is situated on more than eight wooded acres. It is directly across from numerous retail and restaurants, including the popular Fairfax Corner Shopping Center.
The four-story Residences at Government Center offers studio, one- and two-bedroom units and serves households earning between 50 and 60 percent of the area median income for the D.C. Metro Area. Rents range from the mid-$800s to approximately $1,500.
Amenities in the development include more than 5,800 square feet of community-focused space. Highlights include a fitness center and outdoor pool, conference room, outdoor courtyards, play area, and a community room. There’s also numerous green features, such as low volatile organic compound paints, Energy Star appliances, and high-efficiency water heaters.
Because the development was built on county-owned land, there was no financial liability to local taxpayers.
“The Residences at Government Center represent best-in-class tax credit development,” Steve Wilson, Stratford Capital Group’s president and principal of its Virginia office, said. “We are confident the property will be met with great enthusiasm by the market and community.”