Site work and new construction of a multi-residential development in Fairfax, Virginia. Completed plans call for the construction of a multi-residential development; and for site work for a multi-residential development.

https://www.fairfaxcounty.gov/planningcommission/sites/planningcommission/files/assets/calendar/2023/1.11.23.pdf PA 2022-III-FC2 Braddock Residences at Government Center Increase planned intensity in support of affordable and workforce housing North and East sides of Government Center Parkway and South Side of Monument Drive Tax Map #: 561 15 0014A, 0014B Ryan Stewart, DPD, Planning Division ____________________________________________________________________________________________________________________________________ https://www.bizjournals.com/washington/news/2022/11/18/peterson-fairfax-herndon-metro-silver-line.html The provision of public land at low or no cost in exchange for contractual rent caps isn't a new idea, and certainly not in Fairfax. Foulger-Pratt Development LLC is pursuing such a deal in Reston, where it would build 350 units on land it would get more-or-less for free through a multipart subdivision and ground-lease deal with the county government and independent housing authority. Under a similar arrangement, California-based Lincoln Avenue Capital is building a 293-unit all-affordable community on a surface lot on a publicly owned site dubbed Government Center. ____________________________________________________________________________________________________________________________________ https://www.bizjournals.com/washington/news/2022/07/22/residences-at-government-center-affordable-housing.html Developer proposes all-affordable project on public land in Fairfax County A developer has applied to build a second iteration of affordable housing on part of Fairfax County government property, enabled by what'll probably amount to heavily discounted use of that public land. An affiliate of Santa Monica, California-based Lincoln Avenue Capital filed plans earlier this month to build an all-affordable community on a surface lot on a publicly owned property dubbed Government Center. That property, about 90 acres in all, includes three parcels centered around the county government's central administrative building at 12000 Government Center Parkway. Lincoln Avenue would put two multifamily buildings, totaling 293 rent-capped units, on the 4.5-acre westernmost parcel of the three, which the county recently transferred to the Fairfax County Redevelopment and Housing Authority, or FCRHA. That Authority is an independent political entity, governed by appointees of the Board of Supervisors, that focuses on affordable housing initiatives and administering federal housing vouchers. The proposed community is called Residences at Government Center II, though planning documents also refer to it as Fairfax One. It would follow Residences at Government Center I, a 270-unit affordable building already constructed elsewhere the Government Center property. For that first project, the developer paid the county $100 for a 99-year ground lease, saving it about $10 million on land acquisition costs. Lincoln Avenue will also ground lease its land. While the deal isn't yet finalized, both the developer and the county said they expect it'll be in a similar vein. The provision of land at below-market cost is decisive in enabling the project to comprise all affordable units, rather than some affordable but mostly market-rate units, as is frequently the case. While the details of affordable housing deals can be mind-numbing, their basic logic is pretty simple. Revenues generated by rents and sales on the back end must cover operations, including debt service on front-end costs. It's easier to balance that seesaw when more rents are market-rate, generating more cash flow. But if they're kept artificially below market, then someone else, like a government, must step in, either to reduce costs (help with land acquisition, low-interest loans, streamlined entitlement processes, reduced requirements for underground parking, etc.); boost revenues (bonus density to create more rent-generating units, rent subsidies like vouchers, tax abatement, etc.); or both. In an interview, Nick Bracco, a Lincoln Capital VP, called it "public land for public good." The county government is currently preparing to study whether additional portions of the Government Center property, particularly its parking lots, might similarly host new, intensified uses. The county has long wanted to see the general area, which also includes Fair Oaks Mall, undergo a transit-oriented, mixed-use transformation. The ground lease for the current proposal would require affordability over its duration, a county spokesman said in an email. That's significant because in many cases, while contracts guaranteeing affordability at certain income levels may last a few decades, they don't last forever. Affordable housing today might revert to market-rate housing tomorrow if the contract expires but isn't renewed or replaced. A ground lease on the order of a century in length "is a significant indication of the commitment of the County and the FCRHA to preserve that property for the use of affordable housing for generations to come," the county spokesman said. Moreover, the FCRHA's ongoing control of the land as its lessor ensures "affordable housing will continue to be the paramount objective of the property's use," even as the buildings would probably be redeveloped or renovated over the course of an extremely long lease. The county may also end up providing gap financing -- a low-interest loan to help secure tax credit equity, a federal subsidy administered by the states, or additional private financing. The project will include a public or private debt component, though details aren't yet worked out, Bracco said. The proposed development would also include a day care operated by Cornerstones Inc., a Reston-based nonprofit. That'll be an important amenity for the working families expected to live in the buildings, Bracco said. The project's land use attorney is DLA Piper LLP. Its architect is KTGY Architecture + Planning. ________________________ **As of March 24, 2022. project has not been awarded. The agency is working on an internal agreement that is still under negotiations.** As of December 2021, an award has not yet been made. Fairfax County seeks to solicit proposals under the Public-Private Education Facilities and Infrastructure Act of 2002 , as amended, from qualified Offerors to develop, own, and operate (at no cost to the County), an affordable multi-family residential community known as the Residences at the Government Center II property located in Fairfax, Virginia and further described herein. (Ref: Appendix B - Overview and Property Description The purpose of this Request for Proposals is to solicit proposals under the Public-Private Education Facilities and Infrastructure Act of 2002 (the "PPEA"), as amended, from qualified Offerors to develop, own, and operate (at no cost to the County), an affordable multi-family residential community known as the Residences at the Government Center II property located in Fairfax, Virginia and further described herein. (Ref: Appendix B - Overview and Property Description). This procurement is governed by the Fairfax County Purchasing Resolution and the Fairfax County PPEA Guidelines and is being conducted on behalf of the Fairfax County Department of Redevelopment and Housing Authority (FCRHA) and the Department of Housing and Community Development (HCD).