Affordable Housing in Falls Church

Affordable Rental or Home Ownership Opportunities

The City of Falls Church has The Affordable Dwelling Unit (ADU) Program which provides affordable rental or home ownership opportunities for low to moderate income individuals and families. The rent or resale price of these rentals or homes is restricted. These apartments, condominiums, and townhouses are located throughout the City of Falls Church.

Their website says, “No ADUs are available at this time.”

At the same time, a new mixed-use development project known as Mason Row has been proposed by Spectrum Development Company, LLC for the northeast corner of the intersection of West Broad Street and North West Street in Falls Church. As proposed, the project would include a five-story residential building containing 340 multi-family rental apartments.

This is the sixth time the proposal has been submitted and any decision will wait until the end of the year. Government officials seem to be dragging their feet due to the mass or scale of the project and the impact of all those families and children on the infrastructure. The project would displace a Sunoco gas station, 7-Eleven, Lazy Sunday Ice Cream shop, Shreve Plumbing, a small vacant shopping center and other existing businesses in the 900 block of W. Broad Street. On Park Avenue there are three existing single family detached homes that are part of the large land assemblage and parcel consolidation.

Renters are in renter’s hell. The median income for a family of four in the Washington metropolitan area is about $107,000. Sixty percent of that median, the level used to determine the affordability standard, is $64,200. Federal guidelines recommend that people pay no more than one-third of their monthly income for rent and utilities. But the average apartment rent in Arlington was $1,999 in 2012, well above the affordability standard, over $200 above.

Glancing through the pages of Washington Business Journal, you can see proposal after proposal for large housing projects, some part gets dedicated to affordable housing. In one case 20 units will be dedicated to low to middle income renters, but the demand is for 200.

At some point if we want to provide more affordable housing, we must do away with the red tape, regulations, zoning, and delays that just jack up the cost of building. Right now apartments are being built for those 40% who can afford the current housing prices.

Good News Home Investors, LLC is dedicated to providing real estate solutions for sellers and buyers, and investors. GNHI was created with the intent to offer real help to homeowners who need to sell their house quickly, no matter the reason. We are positioned to present sellers with cash offers along with the ability to close quickly or according to the closing timeline preferred by the seller. There are no fees, upfront costs, commissions or any other costs to you. Additionally, Good News Home Investors, LLC assists home buyers by providing beautifully renovated homes that are move in ready. Our newly renovated homes reinvigorate the local community by providing fresh new homes to families and at fair market prices. GNHI seeks to provide practical “tried and true” solutions to the problems plaguing those seeking to sell, buy or invest in real estate.

Give us a call today at 703-560-3713 to let us know what YOU need help with!