Over the past few months, as the redevelopment of the Andrew Adkins project has progressed, questions have been raised by community groups and residents regarding ARHA’s approach to financing the project and the potential displacement of ARHA residents from Alexandria. In remarks printed in the July 20 issue of the Alexandria Gazette Packet, CEO Roy Priest made the following clarifying comments which are posted here on the website for all to see.
When the developmental RFP was issued, the intention was to select development partners who would create viable and sustainable communities. The Andrew Adkins redevelopment proposal is consistent with this intent and will achieve the replacement of affordable units on-site and offsite via land sale proceeds generated by the creation of market-rate rental units. To build and sustain the project requires a mixture of market rate and affordable units that will subsidize the low income units to be built. This model has been successful in previous redevelopment projects such as Chatham Square, Cameron Valley and Old Town Commons. The affordability levels of the 60 units proposed to return to the Andrew Adkins site has not been determined. Since development of all units at 30 percent of AMI is not sustainable unless ARHA is able to secure Project-Based Vouchers (PBV) for the project which protects the units, for planning purposes ARHA is moving forward with Tenant Protection Vouchers (TPVs) to ensure that the project can be sustained. As with every redevelopment project ARHA has done, no unit will be demolished until such time that there is a replacement unit identified.
To read Mr. Priest’s entire response, please click here.