City of Alexandria, Virginia
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MEMORANDUM
DATE: DECEMBER 9, 2025
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
THROUGH: JAMES F. PARAJON, CITY MANAGER
FROM: EMILY A. BAKER, DEPUTY CITY MANAGER AND INTERIM DIRECTOR OF TRANSPORTATION AND ENVIRONMENTAL SERVICES
DOCKET TITLE:
TITLE
Consideration of a Resolution Authorizing the Issuance of Revenue Bonds by the Alexandria Redevelopment Housing Authority (ARHA) for the Next Phase of The Heritage at Old Town Redevelopment Project [ROLL CALL VOTE]
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ISSUE: Consideration of a Resolution authorizing the issuance of revenue bonds by the Alexandria Redevelopment and Housing Authority (ARHA) in an amount not to exceed $20,000,000 to Jair Lynch Real Estate Partners (JLRP) to redevelop rental housing known as the Heritage at Old Town. Block 4. The first phase of the project is underway and these bond funds will advance Block 1, located at 435 S. Alfred Street, which includes 288 units, with 52 affordable.
RECOMMENDATION: That City Council receive and adopt the attached Resolution (Attachment 1) as recommended by ARHA.
BACKGROUND: In December 2021, Jair Lynch acquired an existing 244-unit mixed-income apartment complex known as "Heritage at Old Town." The complex, which is spread across three blocks (Blocks 1, 2, and 4), was comprised of 12 three-story garden-style buildings and a six-story midrise building (431 S Columbus Street). The Heritage project used the Residential Multifamily Zone (RMF) which exchanges substantial increases in density for the provision and/or preservation of large components of deeply affordable housing (40% AMI). In addition to replacing all the existing HAP-subsidized units, 55 net-new affordable units will be built, with nearly all affordable at 40% AMI. The project will also build 555 market rate units. The project is being financed over several phases to enable use of multiple sources. When ...
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