Beverly Park Apartments

About This Building

Revitalizing Beverly Park: Preserving Affordable Housing in the Face of Gentrification 1. Introduction to Beverly Park and Gentrification - Unveiling the challenges faced by smaller market-rate communities like Beverly Park - The looming threat of gentrification and its impact on affordable housing 2. The Arlandria Renewal Project: Enhancing Quality of Life - A comprehensive effort to uplift the Arlandria neighborhood through various projects - Beverly Park chosen as a key project to improve residents' quality of life 3. Acquisition and Financing Partnerships - Wesley Housing's purchase of the 1940s Beverly Park property in October 2005 - Collaboration with acquisition finance partners: City of Alexandria, Housing Partnership Network, and United Bank - Transitioning the community into long-term affordable housing units, catering to individuals at 60% and below and 50% and below Area Median Income 4. Construction and Permanent Financing Support - Partnership with the City of Alexandria, Virginia Housing Development Authority, and RBC Capital Markets Tax Credit Equity Group - Securing the necessary funding for renovations and long-term sustainability of the affordable housing units 5. Green Building Standards and Renovations - Embracing Earthcraft as the green building standard for the Beverly Park project - Notable renovations including new windows, entrances, and complete interior overhauls - Combining efficiencies and one-bedroom units to offer larger options for families in need 6. Conclusion: Contributing Partners - Acknowledging the invaluable contributions of partners: City of Alexandria, Virginia Housing Development Authority, and RBC Capital Markets Tax Credit Equity Group - Tying it all together - the collective effort to preserve affordable housing and shape a more sustainable community for the residents of Beverly Park.