ARLINGTON, VA-AHC Inc., a non-profit affordable housing developer, has bought Magnolia Commons, a 198-unit apartment community in the Columbia Pike area of Arlington. The developer will start renovations in the spring.
AHC will get an Affordable Housing Investment Fund loan that amounts to $13.26 million from the county for the $55-million project. Other funding for the project will come from Arlington County Industrial Development Authority tax-exempt bonds, Low-Income Housing Tax Credit equity and from AHC equity. For the full story, go to Washington Business Journal .
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