Fairfax Is Lending $5 Million for Affordable Housing Complex
From today's Metro section:
The Fairfax County Board of Supervisors voted yesterday to lend $5 million to a real estate partnership that will buy and rehabilitate a 90-unit apartment complex in Falls Church for use as affordable housing. The complex, the Sunset Park Apartments on Seminary Road, has apartments that will cost from $770 to $1,300 a month.
The loan comes from a special fund the county has set aside with the goal of preserving 1,000 units of housing for low- and moderate-income residents. By Dec. 31, the county is expected to exceed that target by preserving 1,358 units.
-- Bill Turque
By Focus on Fairfax |
December 5, 2006; 10:35 AM ET
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