Project aims to build 202 apartments in Loudoun County
Published
Three organizations — TM Associates, Windy Hill Foundation and Trident Properties Inc. — are working together to build The Woods of Brambleton in Loudoun County, which will offer 202 apartments charging below market rate rents.
The developers said the new units will be targeted to working families with limited incomes. The complex will include studio, one-, two-, and three-bedroom units in garden style and town home floor plans. Construction is expected to be completed next March.
The Woods at Brambleton will provide rental housing in Virginia’s wealthiest county with rental rates that are 13 to 44 percent lower than comparable market-rate apartment complexes, the developer said. Amenities will include a pool and clubhouse.
Financing for the project is being provided through $17.2 million in tax-exempt bonds issued by the Virginia Housing Development Authority, a tax-credit equity investment of $7.3 million from EagleBank through Hudson Housing Capital and a substantial contribution from the developer in the form of cash and land donation.
The Windy Hill Foundation is a private, Middleburg-based foundation started in 1981 with the modest goal of improving living conditions at the town’s Windy Hill neighborhood.
The foundation’s other projects have included Virginia Lane, a 14-unit multifamily development, and Levis Hill House, a 20-unit building for the low-income elderly and disabled, and Piedmont Lane in The Plains, a development was built to look like a row of Virginia farmhouses to fit with the ambience of the picturesque village.
