Newsroom
For Immediate Release
Tuesday, March 20, 2007
Contact: Diana Sun 703-228-3247 (voice) 703-228-4611(TTY)
Arlington County Approves Sweeping Plan to Preserve Buckingham Villages
Creates 300 committed affordable housing units
The Arlington County Board late Tuesday night endorsed a sweeping plan on 17 acres in the historic Buckingham community to preserve a historic community, to ensure diverse new housing development, and to create 300 committed affordable housing units. The County collaborated with a private developer and the Buckingham community to preserve the existing community and to enable new development.
“This is a highly complex project that has required extensive work on the part of many people in the community, the good faith of the owner of the property, and the coordination of the County,” commented Paul Ferguson, chairman of the Arlington County Board. “This project epitomizes Arlington’s commitment to affordable housing and shows what can be achieved when the whole community comes together.”
The County Board endorsed the overall Buckingham Villages plan, which will:
- Create and preserve 300 committed, affordable units:
- Preserve of all of Village 3 as affordable housing (140 units) – including completing work on a potential homeownership option. To achieve this objective, the County is agreeing to partner with an affordable housing provider and purchase Village 3 for $32.1 million.
- Create 100 units of new, committed affordable housing in Village 1, through a County AHIF loan of $7 million.
- Secure an additional 60 committed units of affordable housing in Buckingham.
- Expand the Buckingham Historic District to include Village 3, and committing the resources to ensure its appropriate rehabilitation, thus preserving yet another significant part of the larger Buckingham community.
- Preserve the community by providing comprehensive tenant relocation assistance to keep current Buckingham residents within the Buckingham community, including support for tenant-based organizations.
- Create new streets and new park space by allocating $11.8 million to secure their acquisition.
By its approval, the County Board is committing the County to the Buckingham Village preservation and redevelopment package in its entirety. To bring the plan into reality, the County Board will authorize staff to proceed on a number of detailed and highly technical actions. Given the scope of the overall package, it will be several years before all elements of the plan are fully implemented.
Background
The approved plan follows the County’s Memorandum of Understanding approved in July 2006 between the County and the owner, 4319 North Pershing Drive Apartment Investors LLC. Under the agreement, both agreed to work with the community to address the following objectives:
- Preservation of the community by giving people currently living in Buckingham Villages the ability to continue living there, or in the immediate neighborhood;
- Preservation of as much affordable housing as possible with a goal of achieving no less than 300 committed affordable units;
- Historic preservation of Village 3 and redeveloping Villages 1 and 2 in a historically sensitive manner.
In November, 2004, Arlington County participated in a $100 million financing package to help AHC, Inc. completely renovate the Gates of Ballston to preserve affordable housing. The Gates of Ballston was part of the original Buckingham Villages.
Project at a Glance
Owner:
NorthPershing Drive Apartments Investors LLC, Hartford, Connecticut
Developer:
Paradigm Development Company, Arlington, Virginia
Units:
- 646 apartment units, some of which may become affordable ownership units
- 68 townhouse units
Affordable units:
- 300 units guaranteed at affordable rates (60-80 percent of area median income) for 50 years
- 100 units in Village 1 at rents affordable at 50-60% of area median income
- 140 units in Village 3 as affordable rental or ownership units
- 60 units in Buckingham
Community Benefits:
- Preservation of existing, diverse community
- Preservation of historic character
- Underground parking for Village 1
- New community park
Arlington, Va., is a world-class residential, business and tourist location that was originally part of the "10 miles square" parcel of land surveyed in 1791 to be the Nation's Capital. It is the geographically smallest self-governing county in the United States, occupying slightly less than 26 square miles. Arlington maintains a rich variety of stable neighborhoods, quality schools and enlightened land use, and received the Environmental Protection Agency's highest award for "Smart Growth" in 2002. Home to some of the most influential organizations in the world - including the Pentagon - Arlington stands out as one of America's preeminent places to live, visit and do business.