December 2, 2016

Lewinsville Senior Residences Equity Closing

Lewinsville Senior Residences

Enterprise would like to congratulate Wesley Housing Development Corporation (WHDC) on the equity closing of The Fallstead at Lewinsville Center!

WHDC will develop 82 affordable units for seniors and disabled individuals in the affluent city of McLean, Virginia. Tenants will benefit from easy access to the McLean historic center and nearby commercial amenities.

The Fallstead will also be adjacent to the redeveloped Lewinsville Center, which will include a public senior center operated by Fairfax County. Additionally, extensive services will be offered to enhance the health, learning and social environment of tenants.

TD Bank will provide $9 million of construction financing and a $100k Housing for Everyone grant to support the development. Permanent financing also includes a $7.3 million 221d4 loan from Wells Fargo and a $644k loan from Virginia Housing Trust Fund. Enterprise will provide $12.4 million of equity.

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