Lincoln Avenue Communities and FCRHA Open 279-Unit Affordable Housing Development in Fairfax, Virginia
Lincoln Avenue Communities (LAC) has officially opened Fairfax Crest, a new 279-unit affordable housing development located on the grounds of the Fairfax County Government Center in Virginia. The project transformed a former surface parking lot into high-quality one-, two-, and three-bedroom homes designed to address the urgent need for affordable living in Northern Virginia. The development was made possible through a multi-partner financing structure involving the Fairfax County Redevelopment and Housing Authority (FCRHA), Capital One, Freddie Mac, and Virginia Housing. Capital One provided over $97 million in construction loans and more than $67 million in Low-Income Housing Tax Credit (LIHTC) equity to support the project. Fairfax Crest is designed with sustainability and community in mind, holding an EarthCraft Gold certification and featuring rooftop solar panels. The site includes amenities such as an on-site childcare center, fitness facilities, and proximity to public transit, supporting Fairfax County's long-term goal of creating 10,000 net new affordable homes by 2034.
Topics: affordable housing community development real estate development