ParcView II
A proposed redevelopment of the ParcView Apartments site, adding over 200 units of affordable multi-family rental units in the desirable Landmark/West End neighborhood of Alexandria while preserving the existing building.
Project Summary
ParcView II, is a proposed affordable housing community in Alexandria, to be collocated on the site of the existing ParcView Apartments building. Wesley Housing is exploring the redevelopment of an underutilized portion of the site which currently includes the pool and a portion of the parking lot, while preserving, and eventually fully renovating, the existing building.
By working closely with the city and the local community, as well as its development team and counsel, Wesley Housing aims to produce a scheme that provides a significant number of new affordable units (200+), as well as improvements that would benefit residents of both ParcView buildings as well as the neighborhood at large.
Site Address
5380 Holmes Run Parkway
Alexandria, VA 22304
wesleyhousing@whdc.org
Fast Facts
Unit Mix and Incomes Served
While Wesley Housing envisions creating a vibrant community with a varied mix of family sizes, income tiers and age groups, our team is currently working to identify the ideal unit count, unit mix, and population targets based on market realities and funding opportunities.
The affordability requirements of the City of Alexandria and of Virginia Housing will be met through a mix of incomes that reflect the community’s need.
Key Financing
$400,000 Pre-Development Loan From the City of Alexandria
The real estate development team plans to apply for federal Low-Income Housing Tax Credit financing in 2022 after securing entitlements for the site.
Estimated Completion
2027+
Project Timeline
In Partnership With
