Board OKs Funding For New Lake Anne House Development In Reston

RESTON, VA — The Fairfax County Board of Supervisors approved a $3 million loan earlier this week to finance the development of 240 affordable housing units for seniors in the Hunter Mill District.

At its March 24 meeting, the Board asked the Fairfax County Redevelopment and Housing Authority (FCRHA) to authorize a Housing Blueprint Loan for New Lake Anne House LP (New Lake Anne) to finance the project. The project has already received tax-exempt bonds from the Virginia Housing Development Authority.

The project originated back in 2019 when the Community Preservation and Development Corporation and Fellowship Square Foundation, Inc. (FSF) applied for a $3 million loan of Housing Blueprint Funds to develop New Lake Anne House.

FSF, a 501(c)(3) non-profit, already owns and operates Lake Anne Fellowship House, a 240-unit independent living community located at 11450 North Shore Drive in Reston. New Lake Anne will be constructed on the adjacent vacant property at 11448 North Shore Drive. FSF hopes to button up its construction financing soon, with an eye on starting construction in May.

FSF plans to develop the property as a mixed-income, mixed-tenure community and then move residents from Lake Anne Fellowship House into the new facility. Then, FSF will sell the cleared land to a developer, who will construct 36 new townhouses on the property. The proceeds from the land sale will pay off the New Lake Anne construction financing.

"This project should move forward," said Supervisor Walter Alcorn (Hunter Mill), who spoke in support of the motion at Board meeting. "The folks that are living in he existing Lake Anne Fellowship House have been waiting for this for a long time. I think everything about it is actually quite straightforward, and I'm very excited about having this move forward, even in these uncertain times."

The Board passed the motion on a 9-1 vote.