Loudoun View Senior Residences Provides Affordable Homes in Sterling, Virginia
Affordable Community for Low-income Seniors Celebrates its Grand Opening
Loudoun View Senior Residences is a new, quality affordable development for independent seniors ages 62 and older. The property includes 98 one- and two-bedroom apartments and incorporates Universal Design in the units to support the needs of all residents. The project features an onsite leasing and property management suite, multipurpose spaces, a gym, and free Wi-Fi for all residents in units and shared community spaces.
“We’re proud to bring new affordable homes to Loudoun County, and marking the occasion with our partners is truly special,” says Carmen Romero, APAH President and CEO. “Senior residents began moving in late last year and have enjoyed building a community here. APAH’s certified resident services programming provides onsite support at all our properties, including Loudoun View. Senior residents enjoy wellness programs, social events, grocery delivery, and so much more.” Jim Edmondson, a Principal of E&G Group, noted in his remarks that “affordable housing is a community asset. Every such project not only serves its residents, but also demonstrates that the community cares about all its citizens. Loudoun County and its leaders care.”
Amenities at Loudoun View include in-unit washers and dryers plus shared use of the pool, walking path, and playgrounds within the entire planned community. The joint venture between APAH and E&G Group provides onsite services and programs designed to meet seniors’ needs.
Project Financing and Partnerships
In addition to funding from Loudoun’s Affordable Housing Trust Fund, the Virginia Department of Housing and Community Development (DHCD), and the Northern Virginia Regional Commission (NVRC), this $32 million project includes nearly $11.5 million in low-cost loans from Virginia Housing’s tax-exempt bond and REACH financing programs. The project was awarded Low-Income Housing Tax Credits (LIHTC) that permitted APAH and E&G to raise $13.5 million in equity, which was purchased by Truist Bank.
APAH and E&G Group thank the project team that delivered Loudoun View, including general contractor, Morgan-Keller Construction, architects, Michael Wiencek + Associates, engineers Christopher Consultants, property managers S.L. Nusbaum Realty Co., a legal team that includes Klein Horning and Walsh, Colucci, Lubeley & Walsh, and tax credit advisor, Astoria LLC.
Focused on Affordability in Loudoun County
Housings costs in Loudoun County and throughout the region continue to climb, creating challenges for lower-income residents and seniors who are often on a fixed income. “Housing is the foundation; everyone needs a home,” says Phyllis Randall, Chair of the Loudoun County Board of Supervisors. “As Loudoun is one of the fastest growing counties in the nation, the need for attainable housing in Loudoun across the entire spectrum is growing and this project is a blueprint for how critical affordable housing can get done at scale. We look forward to welcoming new neighbors to Loudoun County!” The County’s goal is to provide 16,000 attainable homes by 2040.
Loudoun View is the first affordable housing development by the joint venture in Loudoun County and is nearly leased up. APAH and E&G Group are pleased to contribute to the County’s ambitious affordable housing target while welcoming senior residents to their new home at Loudoun View.
Founded in 1989, APAH helps more than 2,300 households live in stable, secure, affordable rental homes. APAH has nearly 400 affordable apartments under construction and an additional 1,500 in its development pipeline. As a CORES Certified Resident Services provider, APAH delivers comprehensive services to youth, families, and seniors across its 20 properties. In 2020, APAH was named one of the nation’s Top 50 Affordable Housing Developers by Affordable Housing Finance magazine. The organization was named 2021 Developer of the Year by the Housing Association of Nonprofit Developers (HAND). In 2022, APAH’s Queens Court Apartments received HAND’s Best Large Affordable Housing Project award and the Urban Land Institute’s inaugural Terwilliger Center Award for Innovation in Attainable Housing. Lucille and Bruce Terwilliger Place was named Best Affordable Housing Development at the 2022 Virginia Governor’s Housing Conference and received a Multi-Family Residential Award of Excellence at the Best of NAIOP Northern Virginia Awards 2022.
About E&G Group
Jim Edmondson and Tom Gallagher launched E&G in 1982, and as principals, they have developed and redeveloped more than 10,000 affordable apartments in multiple markets across the country. Most of their work now is in the DC area. They are mission-driven, striving to preserve and create housing opportunities with necessary services for individuals and households of modest means. Their work in development and services has won many awards over the decades. Their team captured the attention of Michael Capretti, the landowner of Loudoun View, and introduced the idea of aggregating the ADUs and WDUs for this larger parcel on one parcel within the larger site. Under Wellington Development, a spinoff firm, Jim Edmondson has won financing for two similar projects in Loudoun County.