Loudoun County has been awarded $10 million in grants from Virginia Housing’s Amazon REACH (Resources Enabling Affordable Community Housing) Program, which will be used to support the construction of multifamily apartment housing units in Ashburn and Sterling, according to a statement issued by the county on Monday.
REACH was established in response to concerns about the expected impact of Amazon’s second headquarters in Arlington on the region’s housing prices, county officials said in the announcement. Loudoun applied for the funding as part of $75 million Virginia Housing is investing in affordable housing in the Commonwealth.
Of the $10 million awarded, $3.75 million will be given to the Arlington Partnership for Affordable Housing to help in the new construction of Goose Creek Village in Ashburn. The development will contain 80 proposed age-restricted affordable multifamily apartments, county leaders said.
More than $2.5 million will go to Good Works and Green Street Housing to help in the new construction of Waxpool Apartments, which will include 52 proposed affordable multifamily apartments in Ashburn.
Winn Development will receive $3.75 million to help them acquire and rehabilitate the Somerset Retirement Community in Sterling, for the proposed creation of 102 age-restricted affordable multifamily apartments, according to Loudoun officials.
The REACH funds will support more than 300 units of affordable rental housing in the county, according to the statement. Renters will have to meet income eligibility requirements for the apartments, once built or rehabilitated.
Residents can find more information about the county’s housing programs at loudoun.gov/housing.