columbia pike housing data 9-10

8/6/2019 Columbia Pike Housing Data 9-10

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Columbia Pike Housing InformationSeptember 27, 2010

Table of Contents

GeneralCP Resolution, Policies, Plans, and Existing Tools.... 2Countywide Data Summary.... 3Columbia Pike Data Summary 4Department of Human Services Programs... 5

Rental Data2010 CAFs, MARKS and Market Rate Units by Rent Levels.... 6-72010 CAFs, MARKs and Market Rate Units by Rent Levels and Subareas... 8-92010 CAFs, MARKs, Market Rate Units by Rent Levels and Unit Mix 10-11Rents for Select CP Complexes.. 12

Sales DataHomeownership Summary.................................... 13Condo List....... 14Condo Unit Mix 15Condo Sales Weighted from July 08 June 10 16Background on home purchase... 17Single Family Sales Weighted from July 08 June 10 ............................ 18

Other2010 Income and Rent Limits. 19-20Housing Tools Compilation. 21-24Definitions.. 25-26


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Resolution, Policies, Plans, and Existing Tools

Resolution on the Columbia Pike Land Use and Housing Study: WHEREAS, theCounty Board expects that through this effort, an emphasis will be placed on findingstrategies and tools to preserve affordable housing with opportunities forrevitalization and redevelopment in order to enhance the quality of life along thecorridor...

Policies and Plans:

In 2003, the County Board adopted the Affordable Housing Goals and Targets with specific metrics to guide a multi-year effort to address our affordable housingissues.

The Fort Myer Heights North Plan (2008) calls for redevelopment that iscompatible with the existing character of the neighborhood . By using creativesite design techniques and new zoning ordinance tools and incentives, developmentproposals are encouraged to include elements such as the preservation or provisionof affordable housing, historic buildings, public open spaces, significant trees, andenhanced streetscapes.

The East Falls Church Area Plan will generate a vision for transit-orienteddevelopment in the East Falls Church area of Arlington County and will include anaffordable housing component.

The Crystal City Plan will generate a vision for the next generation ofdevelopment in Crystal City and will also include an affordable housing component.

Existing Tools:

Financing - For more than 20 years, the County has made significant annualallocations of tax dollars to support its Affordable Housing Investment Fund(AHIF). The FY 2010 budget provides new AHIF funding of $5.2 million . SinceJanuary of 2000, the County has provided over $99 million in long-term AHIFfinancing and another $67 million in interim financing to support affordablehousing development.

Rent Assistance - Arlingtons Housing Grants program is the only locally fundedrent assistance program in the region. It will provide $4.9 million in FY 2010 inrental subsidies for low-income elderly, disabled, and working families with children.Housing Choice Voucher rental assistance from HUD is also utilized.

Planning - Through the negotiated site plan development process, the County hasadded committed affordable units (CAFS) by using various zoning and planning tools


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Countywide Data Summary

Countywide data is included to provide context.

According to the 2000 Census: Columbia Pike represents approximately 20% of the population and housing of

the entire County.Total Population

County wide 190,000 100%

CP Study Area 39,000 21%

Housing Units

County wide 90,000 100%

CP Study Area 16,500 18%

However, Columbia Pike differs from the rest of the County.

Tenure (People)

Renter Owner

County wide 57% 43%

CP Study Area 68% 32%

Type (Units)

CP Study area County wide

single family detached 22% 31%

1 unit attached, 2 to 4 units instructure 17% 16%

5 or more units in structure 61% 53%

According to local data: There are 42,000 rental apartments in Arlington County. Of those,

o 6,000 (14%) are CAFso 7,000 (17%) are 60% MARKso 11,000 (26%) are 80% MARKs

18 000 (43%) are market rate (above 80% AMI)


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Columbia Pike Data Summary

Both tables show percentages of affordability. The second column incorporates twoelements:

- The Arlington County Planning Research and Analysis Teams (PRAT) forecasts(~4,700 new multi-family, market rate units) that are a part of COGs 2040Cooperative Forecasts, and- Relevant elements of the Housing Goals and Objectives (see #1 and #2).

Table 1 is multi-family rental only, based on the 2009 Apartment Database. Table 2

aggregates rental and condo units and percentages. Condo data is from the Departmentof Real Estate Assessments.

Table 1: Multi-Family Rental onlyMulti-Family Rental units With PRAT forecast and

Housing Goal# % # %

Market Rate(above 80%)

~1,400 15% ~7,800 55%

80% MARKs(60%-80%)

~3,400 35% ~1,700* 12%

60% MARKs(At/below 60%)

~3,200 34% ~3,200* 23%

CAFs ~1,200 13% ~1,200 8%Uncategorized 2 ~400 4% ~400 3%

~9,600 units ~14,300 units

Table 2: Multi-Family Rental & CondoMulti-Family Rental and

Condo unitsWith PRAT forecast and

Housing Goal# % # %

Market Rate(above 80%)

~5,1001,400 (rental) +3,700 (condo)

38% ~11,500 64%

80% MARKs

(60%-80%)

~3,400 25% ~1,700 1 9%

60% MARKs(At/below 60%)

~3,200 24% ~3,200 1 18%

CAFs ~1,200 9% ~1,200 7%Uncategorized 2 ~400 3% ~400 2%

~13,300 units ~18,000 units


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Department of Human Services Programs

Introduction: This memo is a snapshot of the programs administered by theDepartment of Human Services (DHS) that generally serve households below 40% AMIand the elderly.

Permanent Supportive Housing (PSH):

PSH combines housing with services (e.g. case management, residential support,

independent living support) primarily for persons with a mental handicap and/orintellectual disability. 20 persons are in apartments on Columbia Pike. All but one are in one-bedroom

apartments.o Columbia Grove seven units, but a capacity for eighto Dittmar (Columbia Park, Wildwood Park, Barton Place) five units on

Columbia Pike, one offo KSI (Fields of Arlington) seven unitso AHC (Harvey Hall) one unit

Since DHS contracts with landlords for various properties, the Columbia Pike numbermay change.

Housing Grants:

Arlington County offers a local tax supported program which provides a housing

subsidy to eligible needy persons. There are 451 active Housing Grants cases in zip code 22204.

Housing Choice Vouchers (HCV):

Federally funded housing subsidy program. Formerly called Section 8. There are 508 HCV holders in zip code 22204.

Assisted Living:

DHS and the Volunteers of America have a public-private partnership to constructand operate the Mary Marshall Assisted Living Residence located at 2000 S. FifthStreet in the Penrose neighborhood. Construction is to be completed by mid-year2011 d it ill 52


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6

2010 CAFs, MARKs and Market Rate Rental Units by Rent Levels

Complex Name50%

CAFs60%

CAFsMkt. Rate

CAFsTotalCAFs

60%MARKS

80%MARKS

Market Rate(above 80%) Uncategorized

TotalUnits

2200 0 0 0 0 0 218 0 0 2182814 S 13TH ST 0 0 0 0 0 0 0 6 64300 COLUMBIA PIKE 0 0 0 0 15 0 0 0 1555 Hundred 0 0 0 0 0 0 235 0 235Archstone Columbia Crossing 0 0 0 0 0 235 12 0 247

Arlington View Terrace 0 77 0 77 0 0 0 0 77Barcroft Apartments 0 0 0 0 1318 0 0 0 1318Barton Place 0 0 0 0 12 21 0 0 33Buchanan Gardens 24 87 0 111 0 0 0 0 111Carman Apartments 0 0 0 0 0 0 0 16 16Columbia Gardens Apts 0 0 0 0 62 0 0 0 62Columbia Grove 42 88 80 210 0 80 0 0 210Columbia Park 0 0 0 0 0 178 0 0 178Columbia Pike Apartments 0 0 0 0 0 86 28 0 114Dominion Plaza 0 0 0 0 254 64 0 0 318Dominion Towers 0 0 0 0 69 261 0 0 330Dorchester Apts 0 0 0 0 43 345 0 0 388Dorchester Towers 0 0 0 0 0 260 0 0 260Fields (Columbia Commons) 30 159 0 189 0 10 0 0 199Fillmore Gardens 0 0 0 0 559 0 0 0 559

Foxcroft Terrace 0 0 0 0 29 0 0 0 29G. W. Carver Homes 0 0 0 0 0 0 0 44 44Greenbrier Apts 0 0 0 0 108 0 0 0 108Halstead 0 0 0 0 0 0 269 0 269Harvey Hall 0 115 0 115 0 0 0 0 115Holiday Hills 0 0 0 0 18 0 0 0 18Infinity Apartment Homes 0 0 0 0 0 227 0 0 227


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Complex Name50%

CAFs60%

CAFsMkt. Rate

CAFsTotalCAFs

60%MARKS

80%MARKS


TotalUnits

Key Apartments 0 0 0 0 30 0 0 0 30Key Gardens 4 14 4 22 4 0 0 0 22Magnolia Commons 0 0 0 0 198 0 0 0 198Monterey Apartments 27 82 0 109 0 0 0 0 109Oakland Apts 0 0 0 0 245 0 0 0 245Penrose Square 0 0 0 0 0 0 0 299 299

Quebec Apts 0 129 0 129 0 43 0 0 172Shawnee Apts 0 0 0 0 29 56 0 0 85Siena Park 0 0 0 0 0 0 188 0 188Spectrum Apts 0 0 0 0 0 97 0 0 97Taylor Place (Whitmore) 0 0 0 0 0 218 0 0 218Taylor Square 0 44 0 44 0 0 0 0 44Tyroll Hills Apartments 0 0 0 0 119 0 0 0 119Wellington, The 0 0 0 0 0 7 704 0 711

Westmont Gardens 0 0 0 0 0 249 0 0 249Wildwood Park 0 0 0 0 0 400 0 0 400Wildwood Towers 0 0 0 0 0 133 1 0 134Windsor Towers 0 0 0 0 43 236 0 0 279Woodland Hill Apts 235 0 0 235 0 0 0 0 235

Total 362 795 84 1,241 3,155 3,424 1,437 365 9,53813% 33% 36% 15% 4%

Notes on data

Columbia Place (16 units) is not built yet.Four complexes dont have information (Uncategorized): Penrose Square is still under construction, G. W. Carver is a co-operative, and Carman and 2814 are smallcomplexes with non-reported rents.

Many complexes have rents around 60% AMI. Units often shift between 60% and 80% MARKs categories.

This analysis uses 2009 rents. We will be receiving 2010 rent data in the next two months.


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8

2010 CAFs, MARKs and Market Rate Rental Units Arranged by Rent Levels and Subareas

Complex Name SubareaTotalCAFs

60%MARKS

80%MARKS


TotalUnits

55 Hundred 1 0 0 0 235 0 235Barton Place 1 0 12 21 0 0 33Carman Apartments 1 0 0 0 0 16 16Columbia Gardens Apts 1 0 62 0 0 0 62Columbia Grove 1 210 0 80 0 0 210

Fields (Columbia Commons) 1 189 0 10 0 0 199Greenbrier Apts 1 0 108 0 0 0 108Harvey Hall 1 115 0 0 0 0 115Holiday Hills 1 0 18 0 0 0 18Infinity Apartment Homes 1 0 0 227 0 0 227Key Gardens 1 22 4 0 0 0 22Magnolia Commons 1 0 198 0 0 0 198Monterey Apartments 1 109 0 0 0 0 109

Tyroll Hills Apartments 1 0 119 0 0 0 119Wildwood Park 1 0 0 400 0 0 400Wildwood Towers 1 0 0 133 1 0 134Windsor Towers 1 0 43 236 0 0 279Subarea 1 645 564 1107 236 16 24844300 COLUMBIA PIKE 2 0 15 0 0 0 15Barcroft Apartments 2 0 1318 0 0 0 1318Buchanan Gardens 2 111 0 0 0 0 111

Columbia Park 2 0 0 178 0 0 178Oakland Apts 2 0 245 0 0 0 245Quebec Apts 2 129 0 43 0 0 172Whitmore 2 0 0 218 0 0 218Taylor Square 2 44 0 0 0 0 44Westmont Gardens 2 0 0 249 0 0 249Subarea 2 284 1578 688 0 0 2550


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Complex Name Subarea

Total

CAFs

60%

MARKS

80%

MARKS

Market Rate

(above 80%) Uncategorized

Total

Units2200 3 0 0 218 0 0 2182814 S 13TH ST 3 0 0 0 0 6 6Archstone Columbia Cros 3 0 0 235 12 0 247Arlington View Terrace 3 77 0 0 0 0 77Columbia Pike Apartments 3 0 0 86 28 0 114Dominion Plaza 3 0 254 64 0 0 318Dominion Towers 3 0 69 261 0 0 330

Dorchester Apts 3 0 43 345 0 0 388Dorchester Towers 3 0 0 260 0 0 260Fillmore Gardens 3 0 559 0 0 0 559G. W. Carver Homes 3 0 0 0 0 44 44Halstead 3 0 0 0 269 0 269Key Apartments 3 0 30 0 0 0 30Penrose Square 3 0 0 0 0 299 299Siena Park 3 0 0 0 188 0 188

Wellington 3 0 0 7 704 0 711Subarea 3 77 955 1476 1201 349 4058Foxcroft Terrace 4 0 29 0 0 0 29Subarea 4 0 29 0 0 0 29Shawnee Apts 0 0 29 56 0 0 85Spectrum Apts 0 0 0 97 0 0 97Woodland Hill Apts 0 235 0 0 0 0 235Outside Subareas 235 29 153 0 0 417

Five complexes comprise 80% of the 60% MARKs Ten complexes comprise 80% of the 80% MARKsBarcroft Apartments Wildwood Park Windsor Towers

Fillmore Gardens Dorchester Apartments Archstone Columbia Crossing

Dominion Plaza Dominion Towers Infinity Apartment Homes

Oakland Apartments Dorchester Towers Taylor Place

Magnolia Commons Westmont Gardens 2200


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10

2010 CAFs, MARKs, Market Rate Rental Units by Rent Levels and Unit Mix

Complex NameTotalUnits Eff. 1 BR 2 BR 3 BR Total CAFs

60%MARKS

80%MARKS

MarketRate

(above80%) Uncategorized

2200 218 0 147 71 0 0 0 218 0 02814 S 13TH ST 6 1 5 0 0 0 0 0 0 64300 COLUMBIA PIKE 15 0 9 6 0 0 15 0 0 055 hundred 235 0 186 49 0 0 0 0 235 0Archstone Columbia Cros 247 0 135 100 12 0 0 235 12 0Arlington View Terrace 77 0 10 67 0 77 0 0 0 0Barcroft Apartments 1318 16 666 590 46 0 1318 0 0 0Barton Place 33 0 12 21 0 0 12 21 0 0Buchanan Gardens 111 0 81 28 2 111 0 0 0 0Carman Apartments 16 0 4 12 0 0 0 0 0 16Columbia Gardens Apts 62 0 25 37 0 0 62 0 0 0Columbia Grove 210 0 101 109 0 210 0 80 0 0Columbia Park 178 0 41 131 6 0 0 178 0 0Columbia Pike Apts 114 7 79 28 0 0 0 86 28 0Dominion Plaza 318 129 125 64 0 0 254 64 0 0Dominion Towers 330 69 195 66 0 0 69 261 0 0Dorchester Apts 388 43 140 156 49 0 43 345 0 0Dorchester Towers 260 58 114 58 30 0 0 260 0 0Fields (Columbia Commons) 199 14 78 82 25 189 0 10 0 0

Fillmore Gardens 559 0 439 120 0 0 559 0 0 0Foxcroft Terrace 29 0 15 14 0 0 29 0 0 0G.W. Carver 44 0 0 0 0 44Greenbrier Apts 108 0 48 60 0 0 108 0 0 0Halstead 269 12 155 102 0 0 0 0 269 0Harvey Hall 115 12 51 37 15 115 0 0 0 0Holiday Hills 18 0 0 0 18 0 18 0 0 0


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Complex NameTotalUnits Eff. 1 BR 2 BR 3 BR Total CAFs

60%MARKS

80%MARKS

Market

Rate(above80%) Uncategorized

Infinitiy Apartment Towers 227 1 136 85 5 0 0 227 0 0Key Apartments 30 0 20 10 0 0 30 0 0 0Key Gardens 22 0 12 10 0 22 4 0 0 0Magnolia Commons 198 0 67 131 0 0 198 0 0 0Monterey Apartments, The 109 0 30 60 19 109 0 0 0 0Oakland Apts 245 44 78 81 42 0 245 0 0 0Penrose Square 299 0 189 105 5 0 0 0 0 299Quebec Apts 172 2 89 81 0 129 0 43 0 0Shawnee 85 5 24 36 20 0 29 56 0 0Siena Park 188 0 143 45 0 0 0 0 188 0Spectrum Apartments 97 6 43 48 0 0 0 97 0 0Taylor Square 44 0 17 27 0 0 0 218 0 0Tyroll Hills Apartments 119 0 39 80 0 44 0 0 0 0Wellington, The 711 166 324 214 7 0 119 0 0 0Westmont Gardens 249 0 117 107 25 0 0 7 704 0Whitmore (Taylor Place) 218 50 64 94 10 0 0 249 0 0Wildwood Park 400 3 209 168 20 0 0 400 0 0Wildwood Towers 134 0 56 78 0 0 0 133 1 0Windsor Towers 279 43 95 121 20 0 43 236 0 0Woodland Hill Apartments 235 41 159 35 0 235 0 0 0 0Total 9,538 722 4,772 3,624 376

8% 50% 38% 4%

Four complexes dont have informationPenrose Square is still under constructionG. W. Carver is a co-operativeCarman and 2814 are small complexes with non-reported rents


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12

Rents for Select Columbia Pike Complexes

Complex name Type eff. Rent AMI 1br rent AMI 2br rent AMI 3br rent AMI

Halstead* new construction $1,675 92% $2,345 121% $3,335 143% N/A N/A

Siena Park** new construction $1,620 89% $1,995 103% $2,618 112% N/A N/A

5500 new construction N/A N/A $2,438 126% $3,793 163% N/A N/A

Archstone Columbia Crossing new construction (1990) N/A N/A $1,450 75% $1,800 77% $ 2,360 88%Whitmore rehabilitation $1,295 71% $1,680 87% $1,925 83% $ 2,498 93%

Infinity Apartment Homes rehabilitation $1,180 65% $1,450 75% $1,750 75% $ 2,031 76%Wellington rehabilitation $1,373 76% $1,445 74% $1,810 78% $ 2,200 82%

*includes one bedroom plus den. Some complexes can charge two bedroom rents for these units. Here, I use one bedroom rents**includes one bedroom plus den and two bedrooms plus den.

Notes:

Siena Park and 5500 are not yet in Arlington apartment databse. These rents are based on online postings.


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Homeownership Data Summary

According to local data, the Columbia Pike homeownership rate is 42%. Countywide it is46%.

According to the 2009 Goals and Targets Report:

The homeownership goal is to raise the rate from 46% to 50% and the minority homeownership goal is to raise the rate from 24% to 30%. Also, there are goals to providehomeownership education to 700 households with incomes below 80% of median

and annually assist 50 households with incomes below 80% of median to becomehomeowners.

Arlington has the lowest foreclosure rate in the Washington, D.C. region. However,50% of the foreclosures have occurred in zip code 22204 (Columbia Heights West,Columbia Forest, Forest Glen) where there are high concentrations of condos.

Jurisdiction Foreclosure RateJune 2009

Foreclosure RateDecember 2008

Arlington 0.77% 0.55%Alexandria 1.33% 0.77%

Fairfax 1.31% 0.73%

Loudoun 1.63% 0.88%

Prince William 2.72% 1.56%

Virginia Total 0.92% 0.50% (Source: RealtyTrac, December 2008, June 2009. Foreclosure listings include Pre-Foreclosure, Auction and Bank Owned Properties )

Arlingtons Moderate Income Purchase Assistance Program (MIPAP) has had 0defaults. MIPAP provides assistance to qualified first-time homebuyers of up to 25%of the purchase price towards the purchase of a home in Arlington. MIPAP uses ashared appreciation model.

Four neighborhoods (Penrose, Arlington Heights, Alcova Heights, Barcroft) hadaverage single family home sales prices greater than $500,000. Three

neighborhoods (Columbia Heights, Columbia Heights West, Douglas Park) hadaverage single family home sales prices between $400,000-$500,000. Fourneighborhoods (Columbia Forest, Arlington View, Foxcroft Heights, Forest Glen) hadaverage single family home sales prices less than $400,000. See table on page 20regarding sales data July 2008-June 10.


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Condo List

Complex NameYear Built/Converted

TotalUnits Address Type

1 Arl Village CourtyardsCondo 1939/1981 60 2600 16th St S Townhouses

2 Arlington Court Condo 1947 58 2909 16th Rd Midrise3

Arlington Heights 1979 111836 S GREENBRIERSTREET Townhouses

4Arlington Village 1939/1979 595

1510 S EDGEWOODSTREET Townhouses

5Barkley Condo 1982 125

1016 S WAYNESTREET

StackedTownhouses

6Birdwood Condo 1984 4

941 S George MasonDrive Townhouses

7Carlton Condominium 1965/1984 504

4600 S FOUR MILERUN DRIVE Highrise

8Carlyle House Condo 1980 136

5300 COLUMBIAPIKE Highrise

9Century SouthCondominium (Brittany) 1975/2004 408

4500 S FOUR MILERUN DRIVE Highrise

10 Columbia Condo 1963/1979 101 5565 Columbia Pike Highrise11

Columbia Court Condo 1989 15935 S SCOTTSTREET Townhouses

12 Columbia Knolls 1960/1972 190 5101 8TH ROAD Highrise13 Commons of Arlington 1948/1984 134 2908 S 13TH ROAD Garden14 Dundree Knoll Condo 1987 96 3957 9TH ROAD Townhouses15

Fairway Village Condo 1985 371589 S BARTONSTREET Townhouses

16 Forest Knoll

Condominium 1984 18 4931 7TH ROAD

Stacked

Townhouses17 Frederick Courts 1947/1974 168 5003 10TH STREET Garden18 George Mason Villages

Condo 1963/1980 1631509 S GEORGEMASON DRIVE Garden

19Lancaster Condo 1963/1983 102


20Palazzo Condo 1964/1980 86


21Park Glen Condo 1947/1982 216

810 S ARLINGTONMILL DRIVE Garden

22 Park Spring Condo 1968/1975 135 5065 7TH ROAD Garden23

Park View Condo 1991 6905 S SCOTTSTREET Townhouses

24Sierra Condominium 2005 97

801 S GREENBRIERSTREET Garden

25Tanglewood Condo 1965/1981 44



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Condo Unit Mix

Name

Total

Units Eff 1br 2br 3+br1 Arl Village Courtyards Condo 602 Arlington Court Condo 58 0 0 40 183 Arlington Heights 1114 Arlington Village 595 0 323 244 285 Barkley Condo 125 0 48 65 126 Birdwood Condo 47 Carlton Condominium 504 252 123 123 6

8 Carlyle House Condo 136 0 63 63 109 Century South Condominium (Brittany) 408 0 156 252 010 Columbia Condo 10111 Columbia Court Condo 15 0 0 15 012 Columbia Knolls 19013 Commons of Arlington 13414 Dundree Knoll Condo 9615 Fairway Village Condo 3716 Forest Knoll Condominium 18 0 0 9 917 Frederick Courts 168 0 51 116 118 George Mason Villages Condo 163 0 75 88 019 Lancaster Condo 102 32 34 36 020 Palazzo Condo 8621 Park Glen Condo 216 0 108 108 022 Park Spring Condo 135 0 24 88 2323 Park View Condo 624 Sierra Condominiums 97 0 32 65 025 Tanglewood Condo 44 0 32 11 1

26 Westhampton Mews 70 0 0 70 0KnownTotal

Total 3,679 284 1,069 1,393 108 2,854% of Known Total 10% 37% 49% 4% 78%

Notes: Not able to locate unit mix information for all condo complexes


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Condo Sales Weighted from July 08 June 10

Condo complex Avg. Price# of

salesTotal #of units Neighborhood

Columbia $ 150,000 16 101 CHWPalazzo $ 115,000 20 86 CHWArlington Heights $ 131,000 20 111 CHWSierra* $ 250,000 24 96 CHWPark Spring $ 170,000 26 135 CHWColumbia Knolls $ 128,000 36 190 CHW

Forest Knoll $ 337,000 2 18 CHWNeighborhood average $ 159,875 144 737 CHW

George Mason Village $ 138,000 34 163 Col. ForestBrittany $ 265,000 42 409 Col. ForestCarlton $ 151,000 72 511 Col. ForestFrederick Courts $ 134,000 35 166 Col. Forest

Carlyle House $ 234,000 16 137 Col. ForestNeighborhood average $ 176,523 199 1,386 Col. Forest

Park Glen $ 181,000 20 216 BarcroftTanglewood 44 Barcroft

Dudree Knoll $ 332,000 14 96 Alcova Heights Columbia Court $ 340,000 3 15 PenroseWesthampton Mews $ 363,000 6 70 PenroseNeighborhood average $ 266,651 43 441 Penrose

Lancaster $ 172,000 5 102 Col. HeightsBarkely $ 393,000 5 126 Col. HeightsArlington Village $ 304,000 37 595 Col. Heights

Fairway Village $ 342,000 2 37 Col. HeightsArlington VillageCourtyards $ 299,000 9 60 Col. HeightsArlington Court $ 159,000 19 58 Col. HeightsCommons of Arlington $ 242,000 12 134 Col. HeightsN i hb h d $ 262 618 89 1 112 C l H i h


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Background on Home PurchaseThe following Single Family Sales Weighted from July 08 June 10 table estimates the

income that would be required to purchase a home. The table shows the averagepurchase price divided by 2.5 (conservative) and 4 (aggressive) to estimate the requiredincome. What this difference means is that there are a number of factors that go intodictating how much a household can spend on buying a home. The variables includeinterest rates, potential condo fees, the households income, debt, credit score, savings,etc. For an example of a home purchase in the current environment, see below.

Assumptions:Lenders look at: household income, debt, credit, and savingsHousehold Income: $65,000/yearInterest Rate: 4.5% (average 2010 rate)Mortgage payment: 30% of gross monthly earning

Principal, interest, taxes, insurance, condo fees were applicableCredit score: minimum = 620, good = 680-720Front end ratio: mortgage payment/gross monthly income

Households must meet front end ratio of 30%Back end ratio: mortgage payment + all other monthly debts/gross monthly income

Households must meet back in ratio of 41%

Under these assumptions, this household could afford one price for a single family homeand another for a condo, due to condo fees. The household could afford one price withArlingtons Moderate Income Purchase Assistance Program (MIPAP) and another pricewithout that assistance. See chart below. (See Housing Definition and Terms at end ofpacket for brief description of MIPAP).

w/MIPAP w/o MIPAP

Single Family $340,000 $ 260,000

Condo $300,000 $ 230,000

The chart below shows the various ratios of household income to purchase price.

w/MIPAP w/o MIPAP

Single Family 5.2 4Condo 4.6 3.5

Therefore, the Columbia Pike housing information analysis of single family sales has twoiterations. The two iterations are 2.5 and 4, ranging from conservative to aggressive

f ff


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Single Family Sales Weighted July 08 June 10

Neighborhood Avg. Price# of

salesPenrose $ 605,000 9Alcova Heights $ 562,000 25Barcroft $ 560,000 44Arlington Heights $ 523,000 24

Columbia Heights $ 437,000 28Columbia Heights West $ 406,000 15Douglas Park $ 403,000 83

Columbia Forest $ 338,000 38Arlington View $ 327,000 14Foxcroft Heights $ 284,000 7

Forest Glen $ 227,000 34

Columbia Pike Average $ 422,399 321

Income neededto afford CP

average home AMI

conservative (divide by 2.5) $ 168,960 164%aggressive (divide by 4) $ 105,600 103%

100% AMI for a family of 4 is $103,000

Notes:Condos excluded from this analysisDuplexes and attached homes are includedSource: Department of Real Estate Assessments (DREA)DREA neighborhood boundaries are not exactly thesame as the Columbia Pike Planning area boundaries


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19

2010 Income and Rent Limits

2010 INCOME LIMITS FOR ARLINGTON COUNTY AFFORDABLE HOUSING PROGRAMSDEPARTMENT OF COMMUNITY PLANNING, HOUSING AND DEVELOPMENT

HOUSING DIVISIONEFFECTIVE May 17, 2010

Unit Family Median 80% 75% 70% 65% 60% 55% 50% 45% 40%

Size Size Income of Median* of Median* of Median* of Median* of Median* of Median* of Median* of Median * of Median*

Eff/1 1 $58,000 $54,375 $50,750 $47,125 $43,500 $39,875 $36,250 $32,625 $29,000

1 1.5 $62,120 $58,238 $54,355 $50,473 $46,590 $42,708 $38,825 $34,943 $31,060

2 $66,240 $62,100 $57,960 $53,820 $49,680 $45,540 $41,400 $37,260 $33,120

2 3 $74,560 $69,900 $65,240 $60,580 $55,920 $51,260 $46,600 $41,940 $37,280

4 $ 103,500 $82,800 $77,625 $72,450 $67,275 $62,100 $56,925 $51,750 $46,575 $41,400

3 4.5 $86,120 $80,738 $75,355 $69,973 $64,590 $59,208 $53,825 $48,443 $43,060

5 $89,440 $83,850 $78,260 $72,670 $67,080 $61,490 $55,900 $50,310 $44,720

4 6 $96,080 $90,075 $84,070 $78,065 $72,060 $66,055 $60,050 $54,045 $48,040

7 $102,720 $96,300 $89,880 $83,460 $77,040 $70,620 $64,200 $57,780 $51,360

5 7.5 $106,040 $99,413 $92,785 $86,158 $79,530 $72,903 $66,275 $59,648 $53,020

8 $109,360 $102,525 $95,690 $88,855 $82,020 $75,185 $68,350 $61,515 $54,680


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20

Unit Family Affordable Affordable Affordable Affordable Affordable Affordable Affordable Affordable Affordable Affordable

Size Size Rent 100% Rent 80%** Rent 75%** Rent 70%** Rent 65%** Rent 60%** Rent 55%** Rent 50%** Rent 45%** Rent 40%**

Eff/1 1 $1,450.00 $1,359.38 $1,268.75 $1,178.13 $1,087.50 $996.88 $906.25 $815.63 $725.00

1 1.5 $1,553.00 $1,455.94 $1,358.88 $1,261.81 $1,164.75 $1,067.69 $970.63 $873.56 $776.50

2 $1,656.00 $1,552.50 $1,449.00 $1,345.50 $1,242.00 $1,138.50 $1,035.00 $931.50 $828.00

2 3 $1,864.00 $1,747.50 $1,631.00 $1,514.50 $1,398.00 $1,281.50 $1,165.00 $1,048.50 $932.00

4 $2,587.50 $2,070.00 $1,940.63 $1,811.25 $1,681.88 $1,552.50 $1,423.13 $1,293.75 $1,164.38 $1,035.00

3 4.5 $2,153.00 $2,018.44 $1,883.88 $1,749.31 $1,614.75 $1,480.19 $1,345.63 $1,211.06 $1,076.50

5 $2,236.00 $2,096.25 $1,956.50 $1,816.75 $1,677.00 $1,537.25 $1,397.50 $1,257.75 $1,118.00

4 6 $2,402.00 $2,251.88 $2,101.75 $1,951.63 $1,801.50 $1,651.38 $1,501.25 $1,351.13 $1,201.00

7 $2,568.00 $2,407.50 $2,247.00 $2,086.50 $1,926.00 $1,765.50 $1,605.00 $1,444.50 $1,284.00

5 7.5 $2,651.00 $2,485.31 $2,319.63 $2,153.94 $1,988.25 $1,822.56 $1,656.88 $1,491.19 $1,325.50

8 $2,734.00 $2,563.13 $2,392.25 $2,221.38 $2,050.50 $1,879.63 $1,708.75 $1,537.88 $1,367.00* Median Income as adjusted by US Department of Housing and Urban Development** All Income and Affordable Rent Limits will be adjusted to the nearest whole dollar.Note: If tenants pay utilities, "Affordable Rent" amounts will be adjusted downward by the estimated cost of those utilities


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Housing Tools Compilation

TOOL DESCRIPTION TYPE

(Funding or Strategy) USED? COMMENTS

AHIF

Continue funding AHIF to ensure at least a beginningbalance of $3 Million at the beginning of each fiscalyear Funding Y

Changing to request for$5 million, per HousingCommission FY2011memo

BrownfieldDevelopment

Encourage redevelopment of brownfields - abandoned,idle or underutilized commercial or industrial sites. Strategy

Is North Tract abrownfielddevelopment? No AH

Building CodeModifications

Some local building codes make it prohibitivelyexpensive to rehabilitate existing affordable housing.For example, some require that rehabilitation meetsnew construction standards, or are triggered by factorssuch as the total cost of the work rather than factorsrelated to safety. Strategy Y

CodeEnforcement

Prevents and abates violations on private property.Protects existing residents. Accelerates neighborhoodimprovements. Strategy Y

Residents tend tocomplain about lax codeenforcement inArlington historically.

CodeEnforcement Increase number of code enforcement inspectors Strategy Y

Done in the past twoyears, when Code

Enforcement became arevenue producingdepartment that pays itsown way. Moreinspectors hired.

CommercialLinkageStrategies

Tie new economic development to the constructionand maintenance of affordable housing and othercommunity needs. Require developers to pay fees ($per sq footage) to support affordable housing. Strategy Y

Similar to the AffordableHousing Ordinance;provision forCommercial/Residentialcontribution

CommunityDevelopmentBlock Grants

Arlington utilizes this funding stream. CommissionCDCAC (chaired by Larry Withers) oversees thisfunding. Funding Y

CommunityLand Trust

Non-profits aquire and hold land for community benefit,making the land available through long-term landleases. Residents own the homes, but there ispermanent affordability and ownership opportunities forindividual residents. Strategy

CommunityMapping

Linking information to place through visualrepresentation of data by geography or location.Answers the questions: Do we need more affordablerental or ownership units? Where is the job growthoccurring? What are the land use implications of newtransportation, rail, etc? Who owns the most slumhousing, tax delinquent properties or those with codeviolations in an area? Strategy Y

CommunityReinvestment

Federal law mandating that financial and depositoryinstitutions help meet the credit needs of the


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EliminateCapital Gains

Tax

For multi-family property owners of affordable housing,if the property is sold to a tenants association or a non-

profit that will keep it affordable for at least 30 years. Strategy

Arlington does thisminimally; would ratherget taxes and give

assistance

EmployerAssistedHousing

A growing number of employers are developingprograms to help their employees find and affordhousing closer to work. Such programs may includehomebuyer counseling and financial assistance tohomebuyers or renters. Most programs offer downpayment assistance for homebuyers. Tax incentivesmake Employer Assisted Housing incentives a veryattractive and cost-effective program. Funding

We have "live whereyou work" - businesscommunity not engagedenough (Kathleen'sopinion). Also, legalissue with program inVA?

EvictionControls

These laws give special protections to the elderly,disabled and catastrophically ill, and ensure thatlandlords can only evict with proper cause, such asfailure to pay rent or property destruction. They protectrenters against being unfairly evicted by landlords whowant to capitalize on the explosive rental and housingmarkets. Strategy

ExpeditedPermitProcess Strategy

Susan Bell hasdiscussed "Green Tape"initiatives, andpermitting process hasbeen improved. Notnecessarily streamlinedfor site plan process,though.

Expiring Use

Protects "expiring use" subsidized housing from losingits affordability-designation and reverting to the privatemarket. This tool clarifies ways to protect affordablehousing originally supported by HUD, with a specialfocus on regions with extreme housing shortages, and

not coincidentally, considerable amounts ofgentrification. Strategy

We track this, andhighlight in Goals andTargets report. In 2009,we let some committedunits go, but mostserved those at 80%AMI - not Arlington's

definition of affordablein general it is 60%.

FIT MortgageCreditCertificateProgram

Allows the trade-in of Mortgage Revenue Bond issuingauthority for the authority to issue Mortgage CreditCertificates. These would allow home ownership tooffset income taxes on a dollar-for-dollar basis formortgage interest paid. Funding

FlexibleZoning

Municipalities can use their zoning power to produceaffordable housing at little or now cost to taxpayers byproviding some zoning flexibility for developers whoincorporate affordable housing in a project. Forexample, affordable housing developers can receivedensity bonuses, increased floor area ratios andreduced parking or setback requirements. Strategy

Form-BasedCode Strategy

AHS believes Bostonuses a FBC foraffordable housing.

HFDA f Di i f N h Vi i i h i fi


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Housing

Cooperatives(LimitedEquity)

A partnership wherein residents collectively own andcontrol their housing. The limited equity componentlimits the return on resale, insuring that housing

remains affordable to future residents. Limited equityco-ops promote democratic participation throughresident control and ownership. Strategy Y

Coops have had mixedresults in Arlington.

Charlie Rinker is thelocal expert in thissubject.

Housing TrustFund

Public funds, established by legislation, ordinance orresolution, to receive specific revenues dedicated toaffordable housing development. The keycharacteristic of a housing trust fund is that it receiveson-going revenues from dedicated sources such ascommercial development taxes, fees on loanrepayments, and transfer taxes. These funds canstabilize communities facing gentrification pressures. Funding

Underway nationally,and in VA?

InclusionaryZoning

Land use regulation mandating a percentage (usually15-20%) of the housing units in any project above agiven size be affordable to people of low and moderateincomes. The developer can build the housing orcontribute to a fund to develop it elsewhere. This toolhas particular relevance in gentrifying communities,where high-income and luxury apartmentdevelopments can quickly overrun the existing low-and moderate-income housing stock. Strategy

Differs from AHO, sinceit mandates apercentage of project,but result could be thesame (pay out). Is thisa Dillion Rule issue?Doesn't Fairfax useinclusionary zoning?

LocationEfficientMortages

A Location Efficient Mortgage increases the amountof money homebuyers in urban areas are able toborrow by treating as additional income the moneythey will save by living in walkable neighborhoods withpublic transit, thereby driving less frequently. Funding

This has beendiscussed - not surewhat the creditmarket/lenders have tosay about this now.

Low IncomeHousing TaxCredits Funding Y

Practically every projectuses these.

Mixed UseDistricts

Municipalities can permit or encourage mixedresidential and commercial uses in downtowns,

commercial centers and commercial corridors. In suchdistricts, housing can be interspersed with or abovecommercial uses. This is can be an effective way torevive interest in a downtown or to expand acommercial corridor. Strategy Y

We have some zoningamendments toencourage this, and the

UC/MUD use permitwas created to providean incentive inArlington. Could beexpanded, though.

Multi-FamilyDistricts

Municipalities can make it easier to build affordablehousing by increasing the number or size of districtszoned for multi-family housing. Similarly, in somecases, they can create districts where multi-familyhousing is permitted if an affordable component isincluded. Strategy

Is this a distributionissue?

Municipal FeeWaivers Strategy

New MarketTax Credits Funding Y

Buckingham looked intothis, but market may nolonger support this.

Enhance the County's use of mechanisms such asCounty proactivelyspeaks with owners


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Real EstateTransfer Taxes

This innovative tool reviews techniques through whichtax regulations can limit two destabilizing practices inlow- and moderate-income communities: delinquency,

when property taxes are not paid on blighted property;and speculation, when land is acquired with the intentof 'flipping' its ownership strictly for profitability as thehousing market inflates. Strategy

ReducedParkingRequirements Strategy Y

This is used inaffordable projects.

Regional Fair-Share Housing

Regional fair-share housing plans disperse low- andmoderate-income housing to a number ofcommunities, instead of allowing it to concentrate in

just one area. Regional Fair Share agreementsensure that local governments contribute to affordablehousing costs to meet the overall metropolitandemand. Strategy Y

WACOG does have ahousing group, whichBarbara Favola chairs.They have published anadvocacy toolkit andhave set out goals forthe region.

Rent Control

A review of legal and programmatic protections forrenters to slow the pace in markets with rapidlyescalating rental prices. The effectiveness andimplications of rent control has been heavily debatedfor as long as such ordinances have existed Strategy N

ResaleRestrictions Strategy Y

MIPAP loans haveresale restrictions.

SpecialAffordableHousingDistricts

Create SAHPD across the County where shortages ofaffordable housing exist. Strategy Y

We utilize this -extensively inRosslyn/Ft. MyerHeights. You need tohave enough density -could be used in CrystalCity, perhaps.

TaxAbatement

Lower income tax on affordable properties, or loweredassessments Strategy Y

Limited, but Arlingtondoes do this.

Tax-IncrementFinancingDistricts

TIF funding dedicates new property tax revenue thatarises when a rundown area undergoes significant newpublic or private development that increases its taxablevalue. These new revenues, also called increments,are used to help finance some or all of theimprovements that raised the areas value. State lawprovides guidelines that allow for establishing TIFdistricts. Strategy Y

This was labeled TIPIFand used in ColumbiaPike to pay for parking.Need to talk about usingfor Affordable Housing,as Chicago did sosuccessfully in 1990s.

Tenant

Conversion

Tenant initiated cooperative and condo conversionsencouraged through technical assistance, financialeducation and benefits for low-income tenants to

participate Strategy Y

Limited success in

Arlington

VHDA Ban onUnrelatedSingles Funding

Work to repeal theVHDA regulation thatbars unrelated singlesfrom using its mortgageprograms to purchasehomes


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Housing Definitions and Terms

Affordable Housing Investment Fund (AHIF) : This program, funded by both federalHOME money and local funds, provides financial assistance for the acquisition,development, or rehabilitation of affordable housing for low and moderate incomehouseholds or for housing-related services assisting such households. The FY 2010budget provides new AHIF funding of $5.2 million.

Area Median Incomes (AMI) for Families is the income at which half of the families ofa particular household size have incomes higher and half have incomes lower. The U.S.

Department of Housing and Urban Development (HUD) estimated the median familyincome for a family of four for the Washington Metropolitan Area for 2009 was $102,700.See accompanying chart 2009 Income Limits for Arlington County Affordable HousingPrograms.

Committed Affordable Units (CAFs) are all units that are: 1) wholly owned bynonprofits, excepting any units that serve households with incomes above 80% ofmedian family income; or 2) guaranteed by agreement with the federal, state, or CountyGovernment to remain affordable to low and moderate income households for aspecified period of time; or 3) whose owner received government subsidy to assist withthe purchase/renovation/construction (i.e. AHIF loan). CAFs require affordability for 30-60 years.

Family: Two or more related persons occupying a housing unit.

Family-sized units are units with two or more bedrooms.

Gross Floor Area (GFA): The total of all floors of a building as measured to the outsidesurfaces of the exterior walls and including halls, stairways and elevator/mechanicalshafts. This area excludes areas within the building used for parking.

HUD: U.S. Department of Housing and Urban Development

Homeownership Rate: This is the percentage of all occupied housing units that areowner-occupied.

Housing Grants Program is a County-funded rent assistance program serving lowincome working families, elderly persons and persons with disabilities. Rent subsidiestypically reduce participants share of the rent to 40% of income.

Housing Need: Serious housing need is defined in the Countys affordable housinggoals as those earning below 40% of median income who pay more than 40% of their


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(HOPWA). The Real Estate Tax Relief program assists low and moderate incomehomeowners through exemptions and/or deferral of real estate taxes.

Housing Unit: An occupied or vacant house, apartment, or a single room that isintended as separate living quarters.

Market Affordable Units (MARKS) are lower rent units in the private market whichreceive no County assistance and which the owners have made no commitment to retainas affordable in the future. Determining the number of market rate affordable units iscomplicated and imprecise because the affordability varies depending on family size andincome compared to unit size and rent. 1 MARKS are affordable based on paying no

more than 30% of income for rent. The County has calculated the number of RentalMARKS for three income levels: 80%, 60% & 50% of the HUD incomes Area MedianIncome (AMI). MARKS-80% are units affordable to households with incomes between60% and 80% of median; MARKS-60% are units affordable to households with incomesup to 60% of median; MARKS-50% are affordable at up to 50% of median income.Committed Affordable Units are excluded from the MARKS totals. For the most recentcount of MARKS, see page four of the DRAFT Arlington County Consolidated PlanCitizen Summary,http://www.arlingtonva.us/departments/CPHD/housing/pdf/file75175.pdf .

Moderate Income Purchase Assistance Program (MIPAP): This program providesfinancial assistance for down payments and/or closing costs for first-time homebuyerswith incomes below 80% of median family income.


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columbia pike housing data 9-10

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