Projects

vPoint Apartments

The new vPoint Apartment complex was completed in December 2011 and includes 116 units with 70 affordable and 46 market-rate units, located within half a block of the Clarendon Metro Station.

The new vPoint Apartments are part of the Arlington County’s vision to be a diverse, inclusive and sustainable urban community.  The project demonstrates innovative approaches to providing affordable housing in a core urban area on several levels – incorporating innovative partnership, energy efficient and sustainable design, mixed income and mixed uses, proximity to transit, and strategies to serve a diverse tenant community.  The project also is an example of repositioning of an aging underutilized church building into a vibrant mixed-use community asset.

Residents benefit from environmentally-conscious features and products including bike storage, carpool drop-off areas, ENERGY STAR appliances, dual-flush toilets, low VBOC paints, Green Label Plus carpet and recycling center on each floor.  vPoint is expected to achieve a LEED Silver certification.

vPoint Apartments is an example of the success of the Section 1602 tax credit exchange program.  Due to a difficult tax credit market in 2009, VHDA exchanged 100% of the project’s tax credit allocation for grant funds to allow it to move forward.  As a result, hundreds of jobs were created and 116 units of wonderful, transit-oriented housing now exist!

Specifications

Development Type
Studio, One, Two & Three (60% affordable, 40% market rate)
Number of Units
116
Development Cost
$51.2M
Location
Arlington, Virginia
Development Role
Financing Consultant and VHDA Mortgage Broker
Unit Mix
Studio, One, Two & Three (60% affordable, 40% market rate)
Architect
MTFA
Contractor
Bozzuto Construction
Developer
The Views Corporation with BDC & CCA, Inc.
Owner
1210 N. Highland St. – Clarendon LP
Investor
N/A
Lender
VHDA, Arlington County

Views-East-1-Block

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What Others Are Saying About Us

We have worked on numerous types of financing with Chesapeake Community Advisors over the past ten years.  They have ranged from FHA mark-to-market loans to Fannie Mae financing with various levels of renovations on  developments across the country.  What we have found is that there are very few advisors and partners like CCA who have the expertise to guide a deal literally from day one when looking at the feasibility of a deal  through to the construction and lease-up of a property.  We value working with CCA for their knowledge, ingenuity, dedication and hard work to come up with the best possible outcome for their partners and residents.

Tracy Peters, ORIX Real Estate Capital

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