JBG SMITH, a developer heavily involved in proposed plans to build a sports and entertainment district in Potomac Yard, announced its intention to help preserve at least 500 units of affordable housing in Alexandria.
"Upon approval of legislation by the Virginia Legislature enabling the arena development, JBG SMITH plans to partner with the City of Alexandria to proactively identify and preserve the affordability of 500 or more affordable workforce housing units within the City of Alexandria, prioritizing the Arlandria-Chirilagua neighborhood," the company announced.
The Arlandria-Chirilagua neighborhood will soon be home to a permanent affordable housing complex with more than 400 units. That complex is under construction now. Other affordable housing projects nearby include the coming redevelopment of apartments on Elbert Avenue, Park Vue on Four Mile Road and the Samuel Madden Housing project along Route 1 between Old Town and Potomac Yard.
In addition to helping preserve existing affordable housing in Alexandria, JBG SMITH plans to build new market-rate housing in the Potomac Yard neighborhood in the sports and entertainment district.
JBG SMITH has worked with the City of Alexandria in the past to help preserve affordable housing, including the acquisition of Parkstone Alexandria in the West End, where affordable housing is being phased in. "Since then, it has helped local non-profits and other mission-driven housing operators to acquire almost 3,000 units of committed affordable workforce housing across the region," JBG SMITH officials wrote in a release.
“The availability of affordable housing is an enabler to our economic growth and the mark of an inclusive community,” said Mayor Justin Wilson. “We view the proposals for the new Potomac Yard Entertainment District as an economic boon for the City, but also a unique opportunity to expand our supply of both market-rate and committed affordable housing stock. We welcome JBG SMITH’s partnership in furthering Alexandria’s committed affordable housing production and preservation efforts and look forward to additional partnership in the future.”
The Alexandria City Council hosted a two-hour town hall to answer residents' questions about the proposal, including questions on financing, transportation and safety.
The affordable housing preservation offer from JBG SMITH joins several other efforts to win over residents, including proposed funding for transportation improvements.
This Thursday, Feb. 1, city officials will host another virtual listening session focused on transportation and traffic management surrounding the arena proposal.
