West Wood Oaks

Suburbia Fairfax Development, LLC

Wilma Huff (second from right) moved to West Wood Oaks 35 years ago after praying to find a safe, affordable place to call home near her job. Recently retired, Huff now can stay in a renovated apartment near doctors, shopping, and good neighbors. “I feel fortunate to have a beautiful new apartment in a place that is really a small community, rather than an apartment building,” she said. “I commend the owners for improving the property and keeping it affordable for the next generation.” - Wilma Huff

 

Community Preservation and Development Corporation (CPDC), located in the Greater Washington, DC area, works to preserve affordable housing and empower communities. CPDC has developed more than 4,000 affordable homes and has created award-winning community development and residential services programs at its properties.

PCG’s loan provided acquisition and rehabilitation funding for the West Wood Oaks Apartments. West Wood Oaks includes 54 units of affordable housing and a community clubhouse which meet Enterprise Green Communities and EarthCraft Virginia Standards for green building. Six apartments also meet universal design standards for people with disabilities. The property includes 39 apartments supported with Low Income Housing Tax Credit equity, reserved for households earning 50 percent or less of the area median income (AMI). Rents for these apartments are 25 percent lower than the average apartment rent in the City of Fairfax.

The other 15 apartments are reserved for households earning 51 to 95 percent of AMI. This loan afforded CPDC the opportunity to refinance and improve the only dedicated-affordable property in Fairfax.

Address: 

Fairfax , VA
US

Participating Lenders: 

PCG Loan Amount: 

$700 000

Total Loan Amount: 

$3 900 000

File (PDF): 

Our NMTC Projects

Community Facilities, Healthcare, NMTC
Philadelphia, Pennsylvania
Impact Summary

$5 million NMTC allocation funds medical center for low-income Philadelphia seniors.

Participating Lenders:
None
Community Facilities, NMTC
Chicago, Illinois
Impact Summary

$6 million NMTC allocation helps build new small food business incubator in Chicago.

Participating Lenders:
None
Community Facilities, Education, NMTC
Little Rock, Arkansas
Impact Summary

$7 million NMTC allocation helps construct Little Rock charter elementary and middle school for 1,245 students.

Participating Lenders:
None

Pages