The 2017 award of tax credit financing for the redevelopment of the Ramsey Homes community represents a three-year effort to transform an underutilized and obsolete public housing site into a mixed-income development that adds 37 net new units to the affordable housing inventory in Alexandria. The Project is consistent with the Alexandria Redevelopment Housing Authority (ARHA) 2012-2022 Strategic Plan, the City of Alexandria Strategic Plan, the Housing Master Plan, the Braddock Metro Neighborhood Plan and the Braddock East Master Plan (“BEMP”). The new construction of the 52 unit property will be realized using equity raised by the syndication of competitive 9% LIHTC and soft loans committed by both ARHA and the City of Alexandria. Capital One will provide a bridge loan for construction.