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Loudoun Approves First All-Affordable MF Through Fast-Track Pilot
Loudoun County has approved rezoning for an affordable multifamily housing project, aiming to expedite review processes for attainable homes, Washington Business Journal reported. This project, developed by Good Works LP, will feature 80 below-market rate units on 3.1 acres in Sterling, near Atlantic Boulevard and Magnolia Road, adjacent to Northrop Grumman’s campus.
“This is the first time we have ever done a fast-track legislative approval, and we did it specifically to get the attention of the development community and say, ‘If you give us a good application and you meet these criteria on this checklist you’re eligible,’” Ashburn District Supervisor Mike Turner said in an interview.
The four-story, 106,000-square-foot building will include surface parking. Estimated to cost $27 million, the development benefits from Loudoun’s pilot fast-track program, reducing the typical 12-16 month rezoning approval to six months. Construction is expected to start in 2025, pending site plan approvals and securing funding through tax credits and a county loan.