A Transit-Oriented Affordable Housing Complex is on the Way in McLean
July 23, 2024
On Wednesday, July 17, SCG Development broke ground on Phase A of Somos at McLean Metro, a two-phase affordable housing development in Fairfax County. Somos at McLean Metro will be a new construction mid-rise multifamily rental housing community for lower-income households, with this first phase providing 231 new affordable homes. Construction for Phase B will begin in the fall and, when complete, will add an additional 225 units.
Located at 1750 Old Meadow Road in McLean, Somos at McLean Metro will replace an abandoned six-story office building with a mix of studio, one-bedroom, two-bedroom and three-bedroom affordable apartments. Sitting within walking distance from the McLean Metro station and less than 10 minutes from Tysons Corner’s new pedestrian bridge, Somos at McLean Metro will also help foster a transit-oriented community.
Somos at McLean Metro rendering courtesy of SCG Development.
Virginia Housing has committed over $54.5 million in financing for this project, as well as 4% Low-Income Housing Tax Credits (LIHTC). These tax credits make it possible for the residential units to be available at rents affordable to residents earning 60% or less than the Area Median Income (AMI).
Virginia Housing Lending Group Manager Ed Trageser provided remarks at the ceremony: “Here in Northern Virginia, delivering affordable housing requires a high degree of coordination. It requires community input. It requires cooperation from elected officials and public bodies. It requires contribution of private capital. It requires development team determined to persevere and problem-solve to deliver a project that meets the needs of all the various stakeholders. That is what came together here, and it’s what makes Somos at McLean such a remarkable project.”
Fairfax County, the Fairfax Redevelopment & Housing Authority, the Amazon Housing Equity Fund and Stratford Capital Group also provided financing for Somos at McLean Metro.
You can read more about Somos at McLean Metro on SCG Development’s website. ↗