City of Alexandria, Virginia
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MEMORANDUM
DATE: JUNE 21, 2017
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
FROM: MARK B. JINKS, CITY MANAGER /s/
DOCKET TITLE:
TITLE
Consideration of a Predevelopment Loan to Wesley Housing Development Corporation for an Affordable Housing Development on Fairlington Presbyterian Church Site.
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ISSUE: A predevelopment loan of up to $400,000 to Wesley Housing Development Corporation (Wesley Housing) for an affordable rental housing project on the site of Fairlington Presbyterian Church.
RECOMMENDATION: That City Council approve a predevelopment loan to Wesley Housing of $400,000 for a proposed 81-unit affordable rental housing project.
BACKGROUND: Wesley Housing, an established non-profit affordable housing developer with three properties in the City, has proposed to purchase a portion of land on the site owned by Fairlington Presbyterian Church (FPC) at 3846 King Street to develop a new 75 to 81 unit affordable rental building. As noted in its predevelopment loan application (Attachment 1), Wesley Housing and FPC have entered into a preliminary agreement for the land transfer. The Church and its tenant, the Potomac Crescent Waldorf School, will continue to operate on the site.
A Concept 1 application submitted to the City in March shows a four-story affordable housing rental building above one level of underground parking; the units are proposed to serve households earning up to 50% and 60% of the area median income (AMI) (Attachment 2). The planned building design is consistent with the provisions of the RA Zone while taking advantage of bonus density to maximize the potential affordable housing (Attachments 3 and 4).
Wesley Housing proposes a mix of one, two and three bedroom apartments and will include some fully accessible units. A courtyard will provide recreational and open space for residents. A playground on th...
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