A 274-unit affordable housing building near the Innovation Center Metro Station is officially one step closer to groundbreaking.
Real estate development firm SCG Development, the county, and the Fairfax County Redevelopment and Housing Authority closed on financing for the project, known as Ovation at Arrowbrook. The building brings 274 affordable apartments to the Arrowbrook mixed-use development, which is located at the intersection of Centreville Road and Arrowbrook Centre Drive in Herndon.
In a statement, Dranesville District Supervisor John Foust said noted that the Northern Virginia market is struggling to offer affordable options for stable and safe homes.
“The Ovation at Arrowbrook represents a huge leap forward by providing many of these hard-working households the opportunity to establish roots, raise their families, and benefit from all the advantages that life in Fairfax County affords.”
A combination of local Housing Blueprint funds, project-based vouchers, and revenue bonds were used to finance the project.
“The financing component of the Arrowbrook development not only reflects the significance of our commitment to the development of affordable housing throughout Fairfax County, but it is an exceptional showcase of several of the tools we have to bring these developments a reality,” said newly elected FCRHA chair, Melissa McKenna.
The apartments serve housings earning between 30 and 60 percent of the area median income and will remain designated as affordable for a minimum of 50 years. The development includes 55 three-bedroom units and 15 handicap accessible units.
It will be located next to Arrowbrook Center Park, a for-sale townhome and condominium community that will be developed by Pulte. A high-rise building that will house a hotel, offices, and condominiums is also planned on the site. Roughly 36,000 square feet of retail is also planned.
Construction on Ovation will begin next month and completion is expected to take place by the end of 2022.
Photo via Fairfax County Government