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June 3, 2021
Alexandria, VA – June 3, 2021: Leading nonprofit affordable housing developer Wesley Housing has been named one of the Top 50 Affordable Housing Developers of 2020 by Affordable Housing Finance magazine. This prestigious list ranks for-profit and non-profit developers on a national level based on the number of new affordable housing units they began constructing in 2020. Wesley Housing was one of only nine nonprofits featured on the list.
“Wesley Housing is honored to be ranked among such well-respected leaders in our industry,” said Vice President of Real Estate Development Kamilah McAfee. “We strive to address the affordable housing crisis in the region while helping build up the lives of our residents each and every day, and it’s humbling to have this publication validate the work we’ve achieved this past year.”
In 2020, Wesley Housing started construction on 304 affordable housing units, including The Arden (Alexandria [Fairfax County], 126 units), The Cadence (Arlington, 97 units), and The Waypoint (City of Alexandria, 81 units). The developer completed substantial rehabilitation on 290 affordable housing units including Brookland Place Apartments (District of Columbia, 80 units) and Culpepper Garden I (Arlington, 210 units) and also began rehabilitation of Cedar Street Apartments (District of Columbia, 30 units) and Knightsbridge Apartments (Arlington, 37 units). Despite the pandemic, Wesley Housing had its busiest year of development activity in the history of the organization. The real estate developer closed financing on three new construction projects, two preservation projects, and completed rehabilitation of two additional properties.
“The COVID-19 pandemic really made us push the envelope,” said President/CEO Shelley Murphy. “We were able to keep all of our business operations and development projects on track, despite an uncertain financing landscape and most of the staff working remotely. I am extremely proud of the Wesley Housing team and the many valued partners who made this achievement possible.”
Wesley Housing currently owns and operates 22 properties throughout the DMV. With the acquisition of four properties in the District of Columbia over the last three years, Wesley Housing now serves more than 3,200 highly diverse residents across their footprint. While the nonprofit will develop or preserve nearly 650 units over the next three years in the City of Alexandria, Fairfax County, Arlington County, Frederick County, and the District of Columbia, countless studies report there is so much more that needs to be done. More details about Wesley Housing communities under development and future rental opportunities can be found here.
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About Wesley Housing: Wesley Housing, a leading nonprofit developer in Northern Virginia and the District of Columbia, has been working to provide affordable rental housing for families for more than 45 years. Since its founding, Wesley Housing has emerged as a premier developer of affordable housing. Wesley Housing has acquired or developed 2,300 rental units, providing quality housing for thousands of at-risk individuals and families each year. Wesley Housing supplements housing with supportive services to build up the lives of its residents, including low- and moderate-income families, older adults, and individuals with disabilities and/or chronic disease. For more information, please visit www.wesleyhousing.org and follow @WesleyHousing on social media.