Fairfax County Housing Authority Acquires Land for 400-Unit Affordable Housing Project

The Fairfax County Redevelopment and Housing Authority (FCRHA) recently acquired a 2-acre parcel adjacent to the Innovation Center Metro station in Herndon, Virginia, for $22.9M. This off-market purchase, finalized on August 28, was made possible through federal funds from the Department of Housing and Urban Development's Moving to Work program. The FCRHA plans to develop an affordable housing project on the site, potentially including up to 400 units, though the exact number of affordable units and a development partner are yet to be disclosed.

This initiative aligns with Fairfax County's broader strategy to increase housing production and mitigate escalating housing costs. The county's housing action plan indicates a need for approximately 40,000 new homes by 2035, driven by a significant imbalance between job growth and housing supply since 2013. Rents have surged by 40% since 2015, leading nearly half of all renters to spend over 30% of their income on housing. The new development aims to provide housing for a diverse workforce, from Dulles Airport employees to tech sector staff. This acquisition demonstrates a public entity's proactive role in leveraging federal programs to address critical housing shortages in high-demand areas.