Windy Hill Foundation, together with Flatiron Partners, is pleased to announce that they have been awarded tax credit funding from the Virginia Housing Development Authority (VHDA) to build Heronview Apartments, 96 units of affordable workforce housing at Kincora—the 6.7 million square foot mixed-use development at the corner of Route 7 and Route 28. This VHDA award is expected to exceed 15 million dollars in total funding.
This 4-story, 120,000 SF apartment building will offer 1-Bedroom, 2-Bedroom, and 3-Bedroom urban-style apartments with a mix of 2-story flats affordable to households with incomes at 50% of Area Median Income or less. Rents will range from $915 per month for 1-Bedroom units up to $1,135 for 3-Bedroom units (based on 2016 AMI).
In addition, Heronview will offer 10 fully-handicapped accessible units that will rent to households at 40% AMI or less. Rents for these units will range from $505 to $965 per month.
Heronview will be a “Green Building” certified to “Platinum” standards by Viridiant of Virginia (similar to LEED). Exterior of the building will be 75% brick. Units will feature Energy Star energy-saving appliances, including in-unit washers and dryers, and water-saving faucets and shower heads.
Construction is scheduled to begin in the spring of 2017 with occupancy in the spring or summer of 2018. These apartments will be among the first residential units to open at Kincora.
“From our humble beginning 35 years ago in western Loudoun County, Windy Hill is pleased and excited to have grown large enough to now offer apartments at this scale to meet the overwhelming need for affordable workforce housing in eastern Loudoun,” said Kim Hart, Executive Director of Windy Hill Foundation.
The Loudoun County Housing Office has been very supportive of this project. They provided design assistance with HUD funding made available through the Community Development Block Grant (CDBG) Program. The Loudoun County Board of Supervisors passed, unanimously, a motion to forgive all County Building Permit and Land Use fees in regard to this project.
Board Chair Phyllis Randall said, “Windy Hill Foundation has been a leader in Loudoun in providing affordable housing for many years. I am pleased that they have received VHDA tax credits and I look forward to working with Windy Hill as they focus on continuing to build affordable and much needed workforce housing in our County.”
“Since day one, Kincora has been committed to building substantial infrastructure and high-quality housing that brings Loudoun County together in a welcoming and diverse community,” said Mike Scott, co-developer of Kincora. “Heronview represents the first stage of Kincora’s unprecedented commitment to affordable and workforce housing in allocating 16.25% of its approved multifamily units to furthering Loudoun County’s affordability goals.”
The Architect of Record for Heronview will be Thomas Dinneny of Polleo Group. Civil engineering will be by Urban Ltd, under the leadership of Eric Siegel. The general contractor has not yet been selected.
“Congratulations to Windy Hill Foundation for putting forward the hard work and dedication needed to make this project a reality,” said Ron Meyer, Supervisor for the Broad Run District where Heronview will be located. “The high costs of living in Northern Virginia can limit economic empowerment, but Windy Hill continues to help give many working families a shot to succeed.”
“With these tax credits Windy Hill Foundation will make it possible for 96 families to enjoy high quality housing right here in the community where they work, play and attend school. That’s great news not only for these families but for our Loudoun community. This project will add to Loudoun’s stock of affordable workforce housing and allow more employees to live closer to their jobs, thereby reducing the burden on local roads while keeping more of their income in the local community. I congratulate the Windy Hill Foundation, Kincora and the Loudoun County Board of Supervisors for working together to achieve this victory for Loudoun’s workforce,” said Loudoun County Chamber President Tony Howard
Windy Hill Foundation
Founded in 1981, Windy Hill Foundation has been building affordable workforce housing in Loudoun County for 35 years. Headquartered in Middleburg, VA, Windy Hill has been the only non-profit building affordable rental housing in the County for the last decade. In 2014, Windy Hill won the Governor’s Housing Award for the foundation’s decades-long commitment to building sustainable, energy-conserving units.
Flatiron Partners is a real estate development firm based in Charlotte, NC, specializing in the development of affordable multifamily housing. The principals of the company have completed projects from Florida to Maryland and as far west as Texas. Flatiron Partners has a growing presence in the mid-Atlantic area. They have built multiple tax credit projects in Virginia but this will be their first project in Loudoun County.
Kincora, co-developed by TRITEC Real Estate, Inc. and Norton Scott LLC, is a community of 424-acres on the west side of Route 28 south of Route 7. Kincora’s master plan provides for millions of square feet to be used as Class A office and retail space, hotels, a dedicated cultural and science center, and 1400 apartments and condominiums. Kincora will unite residences, businesses, retailers, technology, education, and hospitality with 160-acres of parkland along the Broad Run to create an exciting, 6.7-million-square-foot lifestyle center in Loudoun County, Virginia, unlike anywhere else. To watch this unique community take shape and keep up-to-date on all the latest Kincora news, visit www.Kincora.com. Follow us on Facebook at facebook.com/KincoraVA/ and on Twitter via twitter.com/Kincora_VA.