an account in the Falls Church Times. The project, located at 350 S. Washington St., has been held up in negotiations with a neighboring development at 360 S. Washington St., which is about to be purchased by McLean, VA-based Jefferson One. A call to the company was not returned to GlobeSt.com in time for publication.

According to the Times, Jefferson One principal Bob Young has pledged to work with next door Wilden property owners to resolve the differences that affect both properties. The Falls Church Housing Corp. and Boston-based Community Builders are the principal backers of that project, which was previously known as City Center South Senior Apartments.

Assuming this deal closes, it will be a new source of affordable housing in a submarket where such projects are rare. That is changing somewhat, as multifamily in general begins to take off and the state of Virginia steps up its financial support of affordable housing. For example, late last year Kettler sold a local apartment building called Fields at Westover with financing provided by the Virginia Housing Development Authority.

Another example is the Ellicott City, MD-based Orchard Development's $15.5-million purchase of the Chesapeake, a 184-unit, garden-style rental community in Dumfries, VA, last month using Low Income Housing Tax Credits as well as a bond issuance.

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