Key Boulevard Apartments A Transit-Oriented Redevelopment of Affordable Housing 1545 Key Boulevard Arlington, Virginia Site Plan Review Committee March 24, 2014 1 Mission AHC’s mission is to produce and preserve affordable housing in the mid-Atlantic region, and to build strong futures for our residents through onsite educational programs. 2 History . 501(C)(3) Non-Profit Organization, since 1975 . Arlington’s Oldest, Largest Affordable Housing Group . Developed 40 properties containing over 5,300 units in the Mid- Atlantic region, primarily in Arlington . Served 1,000+ Arlington families with low-interest loans and construction management support for both first-time buyers and existing homeowners . AHC was named 2013 Nonprofit Developer of the Year by the Housing Association of Nonprofit Developers (HAND). This is the fourth time AHC has won this award. Winner 2013 Nonprofit Business of the Year—Arlington Chamber of Commerce 3 Company Objectives • Produce and preserve the supply of high quality rental and owner-occupied housing for lower- and moderate- income families. • Advocate for the availability of affordable housing. • Enhance the quality of life in the neighborhoods we serve. Key Boulevard Redevelopment Presentation 4 Multifamily, New Construction Experience in Arlington AHC’s Resident Services Programs . Rationale: Promotes learning & connects families to services and the community . AHC invests $1.2 million annually . AHC serves 2,000 children and seniors . AHC partners with 30+ community organizations . Support from 150 volunteers . Results: . 100% of high school participants graduate, 80% attend college . 75% of all participants have GPA of 3.0 or higher Rationale for Redevelopment • Existing, outdated, property requires major capital improvements • Transit-oriented development opportunity five blocks from Rosslyn Metro Station • Limited availability of committed affordable units in Rosslyn Key Boulevard Redevelopment Presentation 7 Affordable Housing in Rosslyn • Approximately 14% of all rental units in the County are Committed Affordable Units (14,756 / 105,404) • In Rosslyn, this percentage is only 4% (293 / 7260) • The Center for Housing Policy reports that at least 500 homes affordable to households with incomes under $65,000 will be required to house lower-wage workers projected to come to Rosslyn in the coming years 8 Benefits of Redevelopment • Double number of committed affordable units • Finance new affordable units without AHIF by including market-rate condominiums • No change to the General Land Use Plan required • Exponential increase in real estate taxes paid • Ability to replicate successful implementation on similar mixed-use, mixed-income project at Courthouse Metro Key Boulevard Redevelopment Presentation 9 The Frederick and The Park Key Boulevard Redevelopment Presentation 10 Redevelopment Strategy • Develop mixed-income community to cross- subsidize construction costs for affordable units • Minimize public investment by leveraging innovative Arlington County zoning policies • Utilize TDRs at receiving site closer to Metro than sending site Key Boulevard Redevelopment Presentation 11 Current Property Condition • Property constructed in 1942 (72 years old) • Building systems past useful lives and require significant investment • Physical plant not energy efficient • Not ADA/handicap accessible Key Boulevard Redevelopment Presentation 12 Original Proposal (Presented to NCRA on 11/24/2009 ) • 8 Stories • 225 Units – 130 Condos, – 95 Affordable Rental Units • Amenities Underground Garage Community Center Landscaped Courtyard Handicap Accessibility Secure Access Key Boulevard Redevelopment Presentation 13 Revised Proposal • Requested changes from the neighborhood: Keep traffic off 19th and Ode Streets Lower height Increased setbacks, reduce bulk • 6 stories • 82 committed affordable units – property must remain predominantly affordable housing – proposal doubles CAFs on site (41 82) • 76 market-rate units help subsidize additional CAFs Key Boulevard Redevelopment Presentation 14 SPRC Discussion Issues • Historic context • Density / height • Transferred development rights (TDRs) • Architecture Key Boulevard Redevelopment Presentation 15 Historic Context • Property included in 2003 blanket listing of 131 apartment communities in Arlington One of 47 complexes with fewer than 10 buildings Architect and builder unknown Not listed in top tier (Essential) of historic resources Design compromised by physical modifications Not officially designated as historic district • AHC has preserved 1,000 historic apartment units in Arlington Woodbury Park, Gates of Ballston, Westover, Colonial Village 16 Density History Pre-1981 Knightsbridge Development Company, Inc. owned two properties on Key Boulevard. 1530 Key Boulevard – Current site of The Atrium 1545 Key Boulevard – Current site of Key Boulevard Apartments Key Boulevard Apartments had 48 units on site. 17 Density History 1981 Site Plan Applications (continued) Knightsbridge submits two Site Plan applications to the County Board, one for each property. Atrium Site Plan requests 357 units Using available on-site density, plus Inclusion of Key Boulevard Apartments density. Knightsbridge agrees not to pursue Key Boulevard Apartments Site Plan if County Board approves the Atrium Site Plan. 18 Density History 1981 Site Plan Applications May 26, 1981 As agreed, County Board approves Atrium Site Plan and denies Key Boulevard Apartments Site Plan. Because Virginia did not have a TDR program in 1981, County Board allowed “inclusion” of Key Boulevard Apartments density at the Atrium by amending the Zoning Ordinance. As condition of approval, Knightsbridge agrees to give the Key Boulevard Apartments to AHC. Knightsbridge conveys Key Boulevard Apartments’ 48 units* to AHC in 1983. *Today, there are 41 units, due to creation of additional 2-bedroom units 19 Achieving Requested Density Requesting site plan approval for 158 residential units By-right density at Key Boulevard Apartments LEED Silver Transfer of Development Rights from Gates of Ballston to Key Boulevard Apartments for historic preservation purposes Method Units Yielded By-right density 48 LEED Silver 11 Gates of Ballston TDRs 99 Total: 158 20 Building Height 6 stories is consistent with proposed heights in Colonial Terrace Existing RA6-15 Regulations: By site plan, County Board may approve up to 12 stories (Zoning Ord. § 6.5.6.D.1(c)) with an additional 6 stories for affordable housing (Zoning Ord. § 15.6.9.3(c)) 18 16 14 12 10 8 6 4 2 0 Proposed Site Plan Atrium SP + Aff. Housing 21 Neighborhood Building Heights Key Boulevard Redevelopment Presentation 22 Transfer of Development Rights Purpose: Preserve Gates of Ballston (“Gates”) as historic site 2007: AHC renovated and preserved Gates’s low-rise, garden-style apartments as predominantly affordable housing Preservation of Gates left unused density at that site AHC proposing to transfer a portion of Gates’s unused development rights to Key Boulevard Apartments 23 Conclusion • Double number of affordable units • Transit-oriented, green (LEED) development • Leverage innovative County TDR policy • No financial support (AHIF) requested from Arlington County • Increasing tax base with new condo owners Key Boulevard Redevelopment Presentation 37 Questions and Answers John Welsh Vice President, Multifamily Division [email protected] 703-486-0626 x113 Alan Goldstein Director, Multifamily Division [email protected] 703-486-0626 x116 Key Boulevard Redevelopment Presentation 38 Meetings • Key Boulevard Residents • Arlington County Planning & Housing Staff • North Rosslyn Civic Association • Rosslyn Renaissance/Rosslyn BID • Neighborhood Representatives Key Boulevard Redevelopment Presentation 39 .