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AHDC Uses $51M Amazon Housing Equity Fund on Alexandria Multifam
The Alexandria Housing Development Corporation has purchased the Park Vue of Alexandria apartment community in Alexandria, VA with a $51.4-million low-rate loan from the Amazon Housing Equity Fund.
AHDC will convert Park Vue of Alexandria into committed affordable housing that will maintain accessible rents for households making up to 60% of the area median income. As a partner with the Amazon Housing Equity Fund, Park Vue of Alexandria will maintain a 99-year affordability covenant.
The 196-unit property is located Alexandria’s Arlandria-Chirilagua neighborhood, which according to AHDC is a heavily Latinx neighborhood facing significant redevelopment and displacement pressure due to nearby growth in Crystal City and Potomac Yard.
The Amazon Housing Equity Fund is a more than $2 billion commitment to preserve and create more than 20,000 affordable housing units in WA’s Puget Sound region; in and around Arlington, VA and in Nashville, TN.
Jorge Rosa and Anthony Liberto of Cushman & Wakefield represented the unidentified seller.
- ◦Sale/Acquisition
