December 12, 2018

Celebrating the Financial Closing of Ramsey Homes in Alexandria, Virginia

Ramsey Homes in Alexandria, Virginia

Enterprise would like to congratulate the Alexandria Redevelopment and Housing Authority (ARHA) on the closing of Ramsey Homes in Alexandria, Virginia! With this development, ARHA is creating 52 affordable homes for families, up to 12 of which are set aside for residents with physical and/or developmental disabilities. The site previously provided 15 public housing units for families. Residents of the former public housing units will have the option to return after construction. Ramsey Homes is located in the desirable Old Town Alexandria neighborhood, with major amenities within walking distance and a Washington D.C. Metrorail stop within a half mile of the property.

Financing

Capital One provided $10 million of construction financing. Permanent financing included $3.60 million from the City of Alexandria and a $6.34 million from the sponsor. Enterprise provided $12.75 million of equity on behalf of Capital One.

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