Local Leaders to Join Enterprise Community Development and Fellowship Square Foundation For Groundbreaking of $86 Million Lake Anne House in Reston, VA

240 modern, affordable apartments for low-income seniors to be built in one of Virginia’s most expensive counties

October 22, 2020 (Reston, Va.)Enterprise Community Development (ECD) and Fellowship Square Foundation (Fellowship) today will celebrate the official groundbreaking of Lake Anne House, a new mid-rise building serving low-income senior residents located at 11444 North Shore Drive in Reston, Va. Chairman of the Fairfax County Board of Supervisors Jeffrey C. McKay, Hunter Mill District Supervisor Walter L. Alcorn, Virginia Housing Chief Executive Officer Susan Dewey (virtually), Fairfax County Redevelopment and Housing Authority Commissioner for the Hunter Mill District Richard Kennedy and Capital One’s Community Finance Senior Director Ed Delany (virtually) will join representatives from ECD and Fellowship Square to put shovels in the ground – socially distanced and in masks – marking the beginning of construction on the $86 million project.

“Here in Northern Virginia we have nowhere near the level of housing for low-income seniors that we need, and this trend is growing worse with the aging of baby-boomers and expanding redevelopment projects that drive prices up. In fact, older adults are now at greater risk of homelessness than at any time in recent history. Lake Anne Fellowship House has provided housing to hundreds of low-income seniors over the past 50 years, enriching lives and enabling our residents to age in place in the dynamic Reston community,” said Christy Zeitz, CEO of Fellowship Square. “Many of our residents live on Social Security or Supplemental Security Income alone, and the average annual income across our communities is approximately $12,000/year. The new, modernized Fellowship Square residences will be more space efficient, energy efficient, and will provide enhanced amenities – while still assuring that rent is never more than 30 percent of a resident’s income. Today’s groundbreaking marks a historic milestone for Fellowship Square, a critical investment in the greater Reston community, and an important contribution to housing solutions in our region.”

Although closed to guests due to COVID-19 concerns, the groundbreaking marks an important milestone in the project that began in late 2015 when nonprofit senior housing operator, Fellowship Square Foundation, issued an RFP to partner with Fellowship to redevelop the Lake Anne Fellowship House, an aging senior housing community built in the 1970s. Community Preservation and Development Corporation, ECD’s predecessor, responded with a novel solution: instead of relocating the residents temporarily until the permanent homes were finished, they would construct a new building on an underutilized portion of the site, offering residents a onetime relocation and the developer the ability to create homes with improved accessibility, energy efficiency and numerous amenities.

“Reston is a city built through cutting edge and future-forward thought and partnerships,” said Brian McLaughlin, president and CEO of Enterprise Community Development. “We’re honored to break ground today on Lake Anne House and help write the next chapter of the Reston story — one in which we breathe new life into older communities built more than 50 years ago — and also by borrowing pages from the same playbook where we ground ourselves in genuine and collaborative partnerships like what we’ve done here across ECD, Fellowship, local government and elected leadership. It takes a team, and we’re excited to be here today.” When complete in the summer of 2022, the new mid-rise building will offer 240 apartment homes including 56 studio apartments, 178 one-bedroom apartments and six two-bedroom apartments that will serve senior residents with incomes at or below 60 percent of AMI for at least 30 years. Each resident will pay no more than 30 percent of their income toward their housing costs, including rent and a utility allowance. The existing buildings, constructed in the 1970s, pre-date the American Disability Act and accessibility is a big challenge for its elderly residents. Lake Anne was designed to directly remedy that. All units will meet Universal Design standards and 54 units will be UFAS-compliant, nine of which will be fully barrier free, facilitating long-term aging in place. The community will also include supportive features such as on-site management and resident services offices and wellness clinic for visiting medical professionals as well as a fitness center, arts and crafts room, large social hall, sunroom, game room and outdoor terrace.

“The important thing for me and my husband is that we will move to a new building with modern design without having to leave the great community of residents and friends, great management, and the great location!” said Elaheh Karbassi, a resident of Lake Anne House for the past seven years. “I'm very excited about the new Lake Anne House, and I can't wait until it is ready!”

Financing for Lake Anne House comes from $46.5 million in tax exempt bond financing from Virginia Housing as well as a $700,000 loan from the Virginia Housing Trust Fund. Financing also included $21.5 million in Low-Income Housing Tax Credit equity provided through Enterprise Housing Credit Investments by Capital One, $3 million in Blueprint Funding from the Fairfax County Redevelopment and Housing Authority, $7.2 million in bridge financing from the Enterprise Community Loan Fund as well as equity from ECD and Fellowship. Virginia Community Capital provided $1 million in predevelopment financing early in the project. Fairfax County Redevelopment and Housing Authority awarded the project 122 project-based rental vouchers with HUD providing the rest to ensure 100% of the 240 units were preserved and subsidized.

“The new Lake Anne House is a great example of how housing partners can work together, united by a shared purpose, to move an important project like this forward,” said Susan Dewey, CEO of Virginia Housing. “We were proud to partner with Enterprise Community Development and provide almost $50 million dollars in financing for this development. Despite the challenges presented by COVID-19, we found a way to help some of Virginia’s most underserved seniors have a home to call their own, where they can thrive. Congratulations to Enterprise Community Partners – and all who are supporting this effort – for making this development a reality.”

“Housing insecurity for low-income seniors is an increasing problem here in Northern Virginia and elsewhere,” said Ed Delany, a senior director on Capital One’s Community Finance team. “ECD and Fellowship will bring critical relief through the construction of these 240 apartments and Capital One is proud to have played a role. We look forward to seeing them completed.”

Following construction of the new building on the now-vacant east half of the site, the existing circa-1970 building will be demolished, and the land sold for future townhomes.

"We celebrate with the community today in the groundbreaking of the Lake Anne Fellowship House," said Erik Johnston, director of the Virginia Department of Housing and Community Development. "Increasing the availability and affordability of housing throughout Virginia remains a priority of this administration and the General Assembly, as they increased the funding of the Virginia Housing Trust Fund to invest in innovative projects just like this."

“The Lake Anne Fellowship Development has held a significant place in our community and in my heart for nearly 50 years,” said Commissioner Richard Kennedy of the Fairfax County Redevelopment and Housing Authority. “My mother lived here, just 5 minutes from my home, and we often see many of the residents as they are walking through the neighborhood. It reminds me every day of how critical it is for us, as a community, to ensure that our older adults – particularly those on low incomes – have access to decent, safe and affordable homes in communities that value and need their engagement and activity.”

“It is very exciting to see this important project become a reality for our community,” said Walter Alcorn, Supervisor at Fairfax County’s Hunter Mill District. “The Fellowship House has been home for many low-income seniors over the past five decades, allowing them to age in place near the cultural and historical center of our Reston community – and often near family. The new Lake Anne House will continue that tradition with essential upgrades in accessibility features and available programs and services that enable residents to take full advantage of the benefits and opportunities life in Fairfax County affords.”

The architect for Lake Anne House is Grimm+Parker Architects. The civil engineering firm is Charles P. Johnson and Associates, the owner’s representative is Orr Partners and the general contractor is Bozzuto Construction.

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Enterprise Community Partners is a proven and powerful nonprofit that improves communities and people’s lives by making well-designed homes affordable and connected to opportunity. As a social enterprise, we bring together the nationwide know-how, policy leadership, partners, donors and investors to multiply the impact of local affordable housing development. Over more than 35 years, Enterprise has created 662,000 homes, invested nearly $53 billion and touched millions of lives.

Enterprise Community Development (ECD) specializes in high-impact residential development, property management and resident supportive services. With 60 years of collective experience, ECD was formed in January 2020 through the combination of Enterprise Homes, Inc. and Community Preservation and Development Corporation. Setting high standards for community planning, affordable housing and a curated residential experience, ECD strives to continue leading innovative solutions in the Mid-Atlantic’s housing market. ECD’s legacy includes the development of more than 16,000 well-designed homes in over 100 communities across the Mid-Atlantic. ECD is part of the Enterprise family of companies.

Fellowship Square, a registered 501(c)3 nonprofit organization, is one of the leading providers of affordable housing and services to low income seniors, operating 670 units in the metro region and serving roughly 800 residents with educational, social, wellness, and recreational programs. The organization has contracts with the US Department of Housing and Urban Development to subsidize housing expenses associated with caring for our aging population, ensuring that the rental cost is never more than 30% of a resident’s annual income, making our homes some of the most affordable in the region. Fellowship Square also employs on-site professional social workers who to ensure much needed access to community and governmental services like Medicare, Medicaid, and insurance. Through professionally managed apartment communities, programming, and services, Fellowship Square maintains the respect and dignity of its clients by ensuring that residents have the support they need to live independent and fulfilling lives even in the face of serious obstacles, such as the high costs of housing and health care in the greater Washington, DC area. For more information on Fellowship Square, visit fellowshipsquare.org, call 703.860.2536 or email info@fellowshipsquare.org.

Fairfax County Redevelopment and Housing Authority serves more than 18,000 residents through a variety of rental housing assistance and First-Time Homebuyer programs; and owns and operates nearly 4,000 units of housing – including multifamily housing, senior housing, licensed assisted living and specialized housing for tenants with a variety of needs. The Redevelopment and Housing Authority also oversees and administers Fairfax County’s land use housing programs and the investment of local funds as well as state and federal grants to increase and/or preserve the county’s stock of affordable homes. Fairfax County is a challenging housing market – particularly for low to moderate income households. But as we embrace partnerships with our non-profit and development neighbors, pursue common-sense investment, and seek innovation in our planning and policies, we are working to ensure that all who need a place to call home, has a place to call home in Fairfax County.

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