$3.025 Million Loan Approved to Renovate Senior Housing in Ballston
Published on November 27, 2018
- Community Development Block Grant funds to be provided to The Carlin
- 161 units to remain affordable for 60 years
- Major systems to be upgraded; roof and elevators repaired; units updated
The Arlington County Board today approved a low-interest loan of $3.025 million in federal Community Development Block Grant funds to help renovate The Carlin, a 162-unit, 10-story building located at 4300 N. Carlin Springs Road. The Carlin serves low income elderly residents who are 55 years and older. Ninety-seven percent of the tenants are 62+ years old; 14 residents are more than 90 years old. About 60 percent of the current residents live on fixed annual incomes below $20,000.
"The Carlin, located in Ballston, offers a rare opportunity for low-income and very-low income seniors to live in Arlington's Metro corridor. More than just an affordable place to rent, the Carlin offers a wide range of free, on-site activities, services, and meals," Arlington County Board Chair Katie Cristol said. "This CDBG loan will ensure that The Carlin will continue to offer high-quality, affordable housing -- and community -- for Arlington seniors for six more decades."
The Board voted unanimously to approve the loan. To read the staff report for this item, visit the County website.
Scroll to Item No. 32 on the agenda for the Tuesday, Nov. 27, 2018 Recessed County Board Meeting.
Retirement Housing Foundation (RHF), one of the nation's largest non-profit developers and managers of housing and services for older adults, persons with disabilities and low-income families, completed construction of The Carlin in 1995. RHF has committed to keeping 161 units (all but one property manager unit) affordable for 60 years. Fifty-nine of the units will be affordable to seniors at or below 50 percent of the Area Median Income (AMI) — an increase of 26 units affordable to households with very low incomes. The remaining 102 units will be affordable to seniors at or below 60 percent of the AMI.
Planned renovations for The Carlin include roofing and elevator repairs, upgrade or replacement of major systems, redesign of first floor common areas, new flooring, paint, doors and hardware, LED lighting fixtures, and other improvements to resident units. The renovations will meet EarthCraft Multifamily green building standards which aim to save energy and water and to improve indoor air quality. The renovations will be phased over 18 months, with residents relocated on site to temporary units.
The CDBG funds loaned by the County represent about 7 percent of the total development costs for the project. Funds from several other sources will be significantly leveraged by RHF for a leverage ratio of $13 for every County dollar.