Arlington Partnership for Affordable Housing Opens $80M Veterans Community

Arlington Partnership for Affordable Housing has celebrated the opening of Terwilliger Place in Arlington, VA. The $80-million development is billed as VA’s largest affordable housing project for veterans and as the first Housing Credit project in VA with a leasing preference for veterans.

The development was supported by $25 million in construction debt and $37 million LIHTC equity investment originated by Capital One, as well as $70,000 in pre-development grants.

Terwilliger Place includes 160 units of affordable housing with half of those units set aside for veterans. The community will offer veteran-focused resident services and programming in its community spaces.

“Addressing the affordable housing crisis requires both new construction and housing preservation, and innovative financing is essential to help bring these developments to life,” said Ed Delany, senior capital officer for the Mid Atlantic at Capital One. “Capital One has worked alongside organizations like APAH, leveraging the LIHTC program for over a decade, and we have seen firsthand how it can effectively bring affordable housing to market. That success includes Terwilliger Place, which not only provides significant affordable housing to Arlington, but also serves our critically important veteran population through its leasing preference and resident services.”