The Exchange at Spring Hill Station project started as a partnership between APAH and the Fairfax County Redevelopment Housing Authority (FCRHA), with the goal of delivering affordable housing in the Tysons area. In spring 2021, APAH contracted for the acquisition of a 2-acre parking lot of a car dealership. At closing, Fairfax County will own the land and will enter into a long-term ground lease to APAH.
The Exchange is the first 100% affordable housing multifamily development in Tysons, Virginia, providing 500+ units affordable to households earning 60% of the area median income (AMI) or less. In addition, the project will include a 30,000 SF community center operated by Fairfax County Neighborhood Community Services.
Financing
The Fairfax County Board of Supervisors has approved a little more than $33 million in financing support for the development of 175 affordable homes – to be known as Dominion Square West. Coupled with an additional $10 million from the Fairfax County Redevelopment and Housing Authority (FCRHA), this funding sets the stage for a unique public-private partnership that will offer an extraordinary opportunity for housing affordable to low- and moderate-income households in one of the county’s largest activity centers.
The project was originally intended to be developed in two phases. However, the award of $55M from the Amazon Housing Equity Fund will allow APAH to expedite the process and develop both phases at once. This means that all 500+ units are expected to be delivered by 2026.
Stories from The Exchange
The Exchange at Spring Hill Station (formerly Dominion Square) Celebrates Groundbreaking Ceremony, December 19, 2023
Dominion Square Will Deliver 500+ Affordable Homes to Tysons, May 27, 2022
The Exchange in the News
The Exchange at Spring Hill Station Groundbreaking, Fairfax County Government Channel 16, December 20, 2023,
The Exchange at Spring Hill Station (formerly Dominion Square) Celebrates Groundbreaking Ceremony, Fairfax County Redevelopment and Housing Authority, December 19, 2023
County board takes key step to fund future Tysons Community Center, FFXNow, October 16, 2023
All-Affordable Housing with Tysons Community Center Near Spring Hill Metro Approved, FFXNow, February 21, 2023
County Board Devotes More Covid Relief Funds to Affordable Housing, FFXNow, December 12, 2022
Amazon Grants $55M to Tysons All-Affordable Housing Project, FFXNow, May 3, 2022
