Green Street Housing and Good Works Host Ribbon Cutting at Loudoun County Attainable Apartment Community

ASHBURN, Va., March 14, 2024 /PRNewswire/ -- Maryland-based Green Street Housing and Loudoun-based Good Works will host a ribbon cutting ceremony for Waxpool Apartments in Ashburn, Virginia on Friday, March 15, 2024.

Waxpool Apartments is a new residential development that will provide state of the art apartments for rent that hourly-wage workers, teachers, and first responders can afford. The property is financed through: a Virginia Housing Low-Income Housing Tax Credit (LIHTC) investment from The Richman Group Affordable Housing Corporation and Discover Bank; Tax-Exempt bond financing from Virginia Housing; a loan from the Loudoun County Housing Trust Fund; loans from Virginia DHCD's Affordable and Special Needs Housing (ASNH) and Housing Innovations in Energy Efficiency (HIEE) programs; and a grant from the Northern Virginia Regional Commission (NVRC).

Waxpool Apartments is the first building in Loudoun County to be certified by four independent green building programs: 1) National Green Building Standard (Silver); 2) Energy Star Multifamily New Construction; 3) ZERO Energy Ready Home; and 4) Indoor Air Plus. The building's rooftop hosts an impressive 85,000 annual KWH solar array that will produce enough energy over the next 20 years to equal the carbon-offset impact of planting 20,000 trees.

The co-developers, Green Street Housing and Good Works, are proud of Waxpool's promise to provide attainable housing to its residents and serve as a long-term community asset to Loudoun and the surrounding area.

"Waxpool Apartments is a great project. We are excited to join Kim Hart of Good Works to do our first rental community in Loudoun", said Dave Layfield, Principal of Green Street Housing. "With our combined strengths, there will be many more to come."

The event will be held at 43815 Oystercatcher Terrace, Ashburn, VA at 11:00AM on March 15, 2024. Refreshments will be provided. Parking is available on site.

About Waxpool Apartments

Waxpool Apartments is a 52-unit, income-restricted rental apartment community located within a one mile walk to the new Ashburn Metrorail Station. Waxpool Apartments will serve Ashburn individuals and families, offering a mix of one and two-bedroom apartments and serve incomes between 30-60% of the area median income. In addition to a child's playground on site, residents of Waxpool Apartments will enjoy all the amenities provided by Northfield Construction & Development, the master developer for Waxpool Crossing. These include: a basketball court; outside grilling area with a fire pit; large community playground; bocce ball court; trike track; dog park; and over a half mile of walking trails.

Drivers going either east or west on Waxpool Rd. may have already noticed the colorful new mural on Waxpool Apartments, just west of Ashburn Village Blvd. The tile mural was designed and installed by well-known local artist Joan Gardiner. This unique mural features Red Winged Blackbirds and Butterflies all known to migrate through Loudoun County, however, drivers and pedestrians will see a different mural depending on which direction they are traveling – the mural is double sided!

Waxpool is leasing up now and accepting applications for residency. Those wishing to apply should visit the apartment website, www.waxpoolapts.com

About Green Street Housing

Green Street Housing is a Maryland-based developer who has closed and managed 25 projects and over $350 million in total development costs for attainable housing projects in Maryland, Delaware, and Virginia. The company's principals bring a combined 30 years of experience in real estate development across new construction, renovation, HUD, LIHTC, and USDA-RD projects in the Mid-Atlantic. Green Street Housing takes great pride in its green-building practices, pursuit of energy efficient building certifications, and providing on-site solar energy production at all of its attainable apartment communities. Learn more at: www.greenstreethousing.com.

About Good Works

Good Works is the only attainable housing developer headquartered in Loudoun County. Good Works has more than 20 years of experience winning Federal Low-Income Housing Tax Credits, HUD bonds, and Virginia Housing financing. Kim Hart was the first apartment builder to win the "Signatures of Loudoun" architectural design award, and the first to win the Governor's Award for Energy Conservation in attainable housing. Learn more at: www.goodworksva.com.

Contact: Kim Hart
Phone: 703-850-3980
Email: [email protected]

SOURCE Green Street Housing & Good Works