Greystone Provides $39M for VA Affordable Housing Development 

Greystone has provided $39 million in Freddie Mac Tax-Exempt Loan (TEL) Unfunded Forward financing to non-profit housing developer Arlington Partnership for the construction of 265 units of a 516-unit affordable housing property in Tysons, Virginia. The financing was originated by Pharrah Jackson of Greystone.

The project, located at 1592 Spring Hill Road, is part of The Exchange at Spring Hill Station development and will be the first 100% affordable housing property in Tysons. The building will consist of two 20-story residential condominiums, Dominion North and Dominion South, as well as a community center condominium owned by Fairfax County Government.  

Amenities will include community rooms, a business center, landscaped courtyard, resident support services, resident lounge, and laundry facilities. The unit mix includes one-bedroom, two-bedroom, and three-bedroom units with varying affordability restrictions. The financing includes a 48-month construction period with a 17-year permanent loan term. 

Early Bird Registration ends soon; don’t miss hearing the expert take on the state of multifamily and single-family build-to-rent in Phoenix & Scottsdale. Connect Phoenix Multifamily & Single-Family Build-to-Rent is coming up on April 18 at the Westin Kierland Resort & Spa. Register Now!