A Bold Move for Attainable Housing
Amidst the hustle and bustle of Sterling, Virginia, a new player has hit the scene: Atlantic Blvd Apartments. A property designed solely for attainable housing, this development is a showcase of what can be accomplished when local government and private developers team up with a shared vision. It feels like a breath of fresh air in a sector often stifled by red tape and stagnation.
The Fast Route to Success
Now, let's cut through the noise and look at why this project is turning heads. Loudoun County leaned on its Fast-Track Commercial Incentive Program to shave layers of bureaucracy clean off the development process. This wasn't just smoke and mirrors; it was zoning and permits pushed through without the usual agonizing wait times. In under three years, what used to be a stormwater pond is now a shining example of Class A apartments for working families. That's the kind of efficiency you don't see every day in real estate.
Kim Hart from Good Housing and Chase Powell, co-developer and co-owner, were doing more than just dishing out niceties on opening day—they were lauding a system revamped to prioritize attainable living. Kim Hart wasn't mincing words as she championed local jurisdictions that put their money where their mouths are, prioritizing tangible results over drawn-out debates.
Breaking Tradition with Innovation
The buzz around this project isn't just about speed. It's about transforming an area blemished by the past into an asset for the community. John Pellerito from Good Housing captured this perfectly when he described converting the obsolete VDOT stormwater pond into homes for worthy families. This isn't just about bricks and mortar—it's a community built on providing dignity and opportunity.
"Who would have thought this eyesore could be turned into beautiful Class A apartments for deserving, working families of Sterling, VA," mused John Pellerito.
Funding the Vision
This project didn't just fall from the sky. At $31.4 million, it had its fair share of backers: Low Income Housing Tax Credits, tax-exempt bonds, equity from Cinnaire, and a loan from Loudoun County's Attainable Housing Loan Program. It takes a village to push a project like this off the ground—financiers, designers, and builders, all pulling in the same direction.
While some might still argue about the profitability of such endeavors, in the long run, filling the attainable housing gap pays dividends not just in economic terms, but in social contribution too. That's a bet worth taking.
Quality Living Spaces for All
With 80 units spread across just over 106,000 square feet, these apartments are more than just a roof over one's head. They offer lifestyle enhancements—a community room, an exercise space, a tot lot, and even a pollinator garden to boot. It's the sprinkles on top of an already good deal for families earning up to 60% of the area's median income. The energy-efficient build didn't hurt either—not with National Green Building Standard and Energy Star certifications under its belt.
Paving the Way Forward
If today's celebration was any indicator, Atlantic Blvd Apartments isn't an endpoint. It's a starting pistol for what's possible when innovation meets want in the housing market. There's a lesson bigger than just housing to take from that.
This project might just serve as a blueprint for other municipalities grappling with their own housing crises. As Good Housing and Green Street Housing have shown us, attainable housing isn't the white whale of urban development. It's doable. It's tangible. It's right here in Loudoun County.
