Alexandria Housing Development Corporation

In february 2022, the organization acquired the square at 511 (formally park vue apartments). This acquisition preserved a market rate property for permanent affordability. As a result of this acquisition by the organization, all 196 units will be permanently restricted to rents not to exceed 60% of area median income. In may of 2024, the organization refinanced the square at 511 apartments. Housing alexandria was one of the first organizations to close the amazon acquisition loan. In total, the organization was able to return to amazon just under $20 million from the original acquisition.

The shared equity homeownership program was finalized in 2023. The project under this program is under construction. Housing alexandria seminary road development will make homebuying more affordable in alexandria by building 36 new homes for families. The organization continued construction of cardinal path townhome project with aims of completion in 2025. The development uses a shared equity homeownership model with 36 homes. This work also develops an expanded service space for sheltered homes of alexandria, which provides housing and supportive services for adults with intellectual and developmental disabilities.

The organization acquired ellsworth apartments on september 5, 2019. The organization owns and operates this 20-unit apartment complex located in alexandria, virginia. The organization is the sole member and developer for ahdc ellsworth, llc.

The organization has acquired a residential unit for the purpose of providing rental housing, at no cost, to a retired city of alexandria police officer.

Groundbreaking on the sans/naja building began in 2023. The project will create 474 affordable housing units, 100 of which will be available at a deeply affordable 40% median area income threshold. The city of alexandria has approved $64 million for the project, and virginia housing has approved $16.8 million.in 2024, the organization launched its rent ready program in alexandria with a focus on arlandria, where the sans project will be located. Thirteen classes were hosted in the arlandria-chirilagua community, including seven informational sessions and six skill-building courses. The goal of rent ready is to help the over 230 enrolled families increase the completion rate for applications to ensure individuals and families face minimal issues when moving in, facilitating access to affordable and smooth housing transitions. In the end of 2024, the organization closed on financing for phase 1 of the sans project. The real estate team signed up approximately $50 million in equity and over $70 million in construction-to-permanent debt. This is in addition to financial support from the city of alexandria, which totals $78 million for the entire project. The sans/naja development is expected to be completed in 2026.