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2021 Development that Best Preserves Existing Affordable Housing
Culpepper Garden I
Developer: Wesley Housing
Owner: Arlington Retirement Housing Corporation
Location: Arlington, Virginia
The eight-story, 210-unit senior property Culpepper Garden I in Arlington, Virginia, had its first substantial renovation since the complex was built in 1975. This process replaced major mechanical, electrical and plumbing systems; upgraded interior finishes; installed new energy-efficient windows; repaired the building skin on exterior walls and added six additional units.
Nonprofit owner Arlington Retirement Housing Corporation paired with Wesley Housing to complete the renovation, which also included creating 21 units that meet Uniform Federal Accessibility Standards and American National Standards Institute Type A requirements.
The $59.8 million development received $16.6 million in LIHTC equity from the Virginia Community Development Corporation, as well as $10.7 million from the Affordable Housing Investment Fund. With Arlington County ranking among the 15 wealthiest counties in the nation, the renovation of a large senior affordable housing property provides stability for an additional 60 years. The property reached 100% occupancy in December 2020, with 95% of residents being older than 66.
“This is a thorough modernization of a senior midrise without astronomical development costs,” said Landry.
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