Built in 1991, Courthouse Crossings was Arlington County's first Low Income Housing Tax Credit (LIHTC) project. It has operated as a 112-unit garden style mixed income property, with just over 40% of the units affordable to households with incomes at or below 40%, 50%, and 60% Area Median Income (AMI), the balance having market rate rents.
CCA worked with the Owner, Arlington Partnership for Affordable Housing (APAH), to implement a plan allowing APAH to become the non-profit housing entity designated to acquire Courthouse from the existing General Partner at Year 15. As part of the acquisition strategy, CCA worked with APAH and Arlington County to convert the property to 100% affordable housing.
CCA’s other services included negotiating and securing an acquisition bridge loan, tax credit financing, construction and permanent financing and overseeing the construction process.