Loudoun County is receiving $10 million in state grants to support affordable multifamily housing in the county and to prepare for Amazon’s arrival in Northern Virginia. This funding is in addition to an earlier grant of $3.75 million to support two affordable multifamily developments in Loudoun County: Tuscarora Crossing Phase 1 and the View at Broadlands.
These grants are part of Virginia Housing’s Amazon REACH Program (Resources Enabling Affordable Community Housing), which was established in response to concerns about the anticipated impact of Amazon’s second headquarters in Arlington on the region’s housing prices. Virginia Housing is investing $75 million in affordable housing. Loudoun County applied for this funding to support proposed affordable multifamily developments.
Loudoun County will be using the new award of $10 million to support three proposed developments that are also being considered by the Board of Supervisors for Loudoun County loans:
The Amazon REACH funds will help support over 300 new units of affordable rental housing in the county, a need illustrated in the county’s recently adopted Unmet Housing Needs Strategic Plan. Renters will have to be meet income eligibility requirements for the apartments once they are built or rehabilitated.
More information about Loudoun County’s housing programs may be found online at loudoun.gov/housing.
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