The Virginia Housing Development Authority has agreed to fund 96 workforce housing units for the Windy Hill Foundation as part of the Kincora development at the southwest corner of Route 28 and Route 7.
The funding will help the foundation, along with Flatiron Partners, construct the Heronview Apartments complex estimated at around $15 million.
An ecstatic Kim Hart, executive director for Windy Hill, thanked members of the Loudoun Board of Supervisors June 23 for their help in the application process.
“I’m very happy to report tonight that we won,” he said.
During a separate event, he also thanked Kincora for their “commitment to partnering with us to bring much needed workforce housing to Loudoun Counnty.”
The four-story, 120,000-square-foot apartment building will offer 1-, 2-, and 3-bedroom apartments and townhouses to those who earn 50 percent or less of the Area Median Income (AMI). Today, that would mean apartments ranging from $915 per month to $1,135 per month. In addition, 10 apartments fully accessible for disabled residents will be rented to those making 40 percent or less of the AMI.
Construction should begin early next year, with occupancy expected sometime in 2018, making the units among the first available at Kincora.
“Windy Hill Foundation and the Flatiron Partners are renowned for delivering high-quality affordable workforce housing and we are thrilled they are a part of Kincora,” said Michael Scott, co-developer of Kincora.
Kincora plans to have 228 affordable or workforce units in the development, which is planned for 4 million square feet of office space, 500,000 square feet of retail uses and 1,400 homes.
“This will allow more employees to live closer to their jobs,” said Tony Howard, president of the Loudoun County Chamber of Commerce.