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The first 100% affordable housing project in Tysons, Virginia, funded in part by Amazon, broke ground in December, and excavation work is now underway.
The Exchange at Springhill Station, a 516-unit apartment complex developed by the Arlington Partnership for Affordable Housing, will offer one-, two- and three-bedroom units for households earning 60 percent of the median income area or less, according to a new publication. liberation
Tysons, an affluent suburb of Washington, DC, has one great need for affordable housing. The city is projected to reach more than 42,000 residents by 2030, according to FFX Now, and will need additional housing and affordable housing units to accommodate the growth.
At The Exchange, crews working for Bethesda, Md.-based Clark Construction are currently working on the excavation, which the contractor expects to finish by the end of August, a company spokesperson told Construction Dive. In a broader timeline, the project is expected to be completed in the summer of 2027.
Clark Construction could not disclose the total funding for the project, however The exchange will be paidin part by $56 million of the $2 billion Amazon Housing Equity Fund, $89 million from the Virginia Department of Housing and Community Development and $227 million in financing from Bank of America , WTOP reported.
Located at 1592 Spring Hill Road, the Exchange will also include a 20,000-square-foot community center with an indoor basketball court, a fitness center and neighborhood programming led by Fairfax County Community and Neighborhood Services, according to WTOP.
