Built in 2004
Placed in service in 1991, the Quaker Hill community was one of the first tax credit funded communities in the country. Anticipating the expiration of the 15-year Extended Use Agreement period, VHDLLC applied for and was awarded an allocation of 9% Low Income Housing Tax Credits. The City provided a loan to exercise a Right of First Refusal to buy out the initial owner. The financial crisis in 2008 inhibited the sale of the credits, so VHDLLC returned to the State housing finance agency (VHDA) to secure an award of Exchange Credits. The Exchange Credits were monetized through purchase by the Department of Treasury and the project was able to move forward. The effort was completed and 100% occupied by 2010.
DetailsCOMMUNITY COMPOSITION 134 Affordable Rental Units 159 Market Rate Townhomes 86 Market Rate Multi-family Units FEATURES 5 Blocks from Braddock Road Metro 5 Minute Walk to King Street in Historic Old Town Alexandria 5 Miles from Washington D.C. Next to Charles Houston Recreation Center Walkable to Multiple Riverfront Parks LEED/Earthcraft Certified CONTRIBUTING PARTNERS Alexandria Redevelopment & Housing Authority – Land Sale Proceeds Virginia Housing Development Authority – 9% LIHTC City of Alexandria Boston Capital – Equity Syndicator Eakin Youngentob Associates (EYA) – Market Rate Component Developer
AwardsDelta Associates Award for Excellence: 2013 Best Mid-Atlantic Neighborhood Impact Condominium Community NAHRO 2014 Award of Merit: Successful Use of A Public Private Partnership ULI Award of Excellence: 2014 Jack Kemp Affordable & Workforce Housing Models of Excellence Virginia Governor's Housing Awards: 2013 Best Mixed-Income Project The Great American Living Awards (GALA): 2011 Best Designed Architecture, 2010 Best Green Community, 2010 Most Innovative Infill Neighborhood Best in American Living Awards (BALA): 2013 Gold Award, Neighborhood of the Year