Board Approves Housing Authority Financing to Preserve Affordable Senior Housing in Mount Vernon
Oct. 16, 2012
The Fairfax County Board of Supervisors has approved a $3,900,000 Fairfax County Redevelopment and Housing Authority (FCRHA) loan to MVH Partners, LP, for the acquisition, preservation and rehabilitation of Mount Vernon House, a 130 unit affordable senior apartment community in the Mount Vernon District. Mount Vernon House will receive interior, exterior and security upgrades, will include eight fully accessible units, and will be preserved as affordable housing for independent seniors for at least 50 years. The $3,900,000 in financing will be provided to MVH Partners, LP in the form of a deferred loan from the FCRHA.
“The preservation of Mount Vernon House provides an enduring affordable housing resource for our seniors – one of the fastest growing populations in Fairfax County,” said Elisabeth Lardner, Mount Vernon District FCRHA Commissioner and FCRHA Chair. “I am proud that the FCRHA was able to support this important project.”
This action helps the county meet one of its goals stated in the Housing Blueprint, a housing strategy that reflects the philosophy that affordable housing is a continuum ranging from the needs of the homeless to first-time homebuyers. Specifically, preserving Mount Vernon House will provide affordable housing for special needs populations, to include independent seniors. Scheduled improvements in the plan include updating kitchens, renovating community areas, installing new windows and upgrading security systems. The project will also add four additional accessible units to the property (for a total of eight) and will incorporate Universal Design features throughout to the greatest extent possible.