Beverly Park Apartments

Beverly Park represents smaller reasonably-priced market-rate communities threatened by gentrification. This project"part of the larger ongoing renewal of the Arlandria neighborhood"was geared toward improving quality of life and creating a more energy-efficient community.
Wesley Housing purchased this 1940s property in October 2005 with the assistance of acquistion finance partners City of Alexandria, the Housing Partnership Network, and United Bank to transition this community to long-term affordable housing units serving individuals at 60% and below and 50% and below Area Median Income. Construction and permanent finance partners were the City of Alexandria, the Virginia Housing Development Authority, and RBC Capital Markets Tax Credit Equity Group.
Renovations include new windows, entrances, and full interior renovations, with Earthcraft as the green building standard for this project. Efficiencies and one-bedroom units were combined to make larger units to provide more options for families.
Partners: City of Alexandria, the Virginia Housing Development Authority, RBC Capital Markets Tax Credit Equity Group.