Affordable Housing Investment Fund
Since its creation in 1988, the Affordable Housing Investment Fund has been Arlington County’s main financing program for the development of affordable housing. The program has enabled the majority of the approximately 8,300 rental units approved throughout the County that help provide homes for low- and moderate-income households, including specialized housing for the elderly, the homeless, or persons with disabilities.
The Fund supports affordable housing development and preservation in Arlington by:
- Providing low-interest, subordinate loans for developers of affordable housing.
- Subsidizing renovations and upgrades to keep existing affordable housing safe and sustainable.
- Alleviating the dramatic loss of affordable housing units in multifamily properties.
How Does AHIF Work?
AHIF operates as a revolving loan fund, ensuring the loans are repaid in a timely manner and enabling the County to leverage its investments to build more affordable housing.
AHIF in Our Community
AHIF is an important funding source for the development of affordable housing within our County, often helping to fill a “gap” in financing. Every year, the County determines an AHIF allocation in its annual budgeting process. In Fiscal Year 2017, the County allocated a total of $15 million, which is comprised of local and federal dollars and is also supported by loan repayments and developer contributions.
AHIF and APAH
APAH is proud to have received AHIF funding in many of our affordable housing developments. Here are a few of the most recent projects that received AHIF funding:
- Arlington County: “Affordable Housing Investment Fund“
- Arlington County: “Affordable Housing Master Plan“
- Arlington County: “Affordable Housing Master Plan Fiscal Year 2017 Annual Report“