NHP Foundation, Gibson Spyre Selected to Develop Fairfax Affordable Housing Project
The NHP Foundation (NHPF) and Gibson Spyre have been selected by the Fairfax County Redevelopment and Housing Authority to redevelop 5831 Columbia Pike in Bailey’s Crossroads, Virginia.
“This development offers a powerful example of how local government, non-profits, and community-based partners can work together to advance equitable development and opportunity for all,” said Eric Price, President and CEO of NHPF, adding, “Northern Virginia is a region we have long identified as essential to our mission of expanding affordable housing opportunities in the DC metro area.”
Under a proposed 99-year ground lease with Fairfax County, NHPF and Gibson Spyre will develop approximately 160 affordable homes, the majority designated as two- and three-bedroom units, in a sustainable building that will also include space dedicated to nonprofit service providers and extensive open spaces. The team anticipates beginning entitlement and community outreach in 2026, with construction anticipated to start in 2028.
Nominate Commercial Real Estate’s Leading Investment Sales and Leasing Brokers — For the ninth year in a row, Connect CRE will spotlight the industry’s top brokers based on the past year’s achievements. Click here to submit your nominations.
Other News
Queens’ Tallest Tower Reaches 90% Leased, Adds First Retail Tenants
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
Learn more
80-Unit Seniors Housing Development Opens in Suburban Chicago
Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
Learn more
312-Unit Multifamily in Indiana Changes Hands
Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout