Community Partner: McCormack Baron Salazar
103 Affordable Homes
More information in our Social Return on Investment report - More Than a Home: Investing Together to Create Opportunity - and two-page Fact Sheet.
Saving Homes, Keeping a Community Intact
Clarendon Court was originally built around the 1940’s, and in 1993, Arlington County helped refinance the property making it affordable to low-income working families. In 2016, Enterprise Community Loan Fund used financing through Our Region, Your Investment to provide McCormack Baron Salazar a $1.5 million predevelopment loan, supporting their acquisition of the property.
McCormack Baron Salazar made a commitment to:
- Keep all homes at Clarendon Court affordable for another 75 years
- Increase the affordability of a number of homes
- Reserve 10 homes for people who are chronically homeless
- Renovate the property to include green features that will help create a healthier living environment for residents
100 Years of Affordability
Arlington County’s original engagement in 1993 and its continued commitment to seeing that the property remains affordable means that homes at Clarendon Court will be affordable for at least 100 years.
Meet the Residents
Working alongside partners to preserve affordable homes like those at Clarendon Court fulfills our commitment to investors to put their money to work for social good. To best illustrate the real impact of Our Region, Your Investment, we featured in the report stories of five residents: Rebecca, Jaime, Lee, Rabindra and MD. Residents at Clarendon Court are thriving in Arlington, benefiting from a top-rated school system, strong public transit, and an array of resources that enable residents of all backgrounds and income levels to flourish.