The Exchange at Spring Hill Station is planned to be the largest fully committed affordable housing community in Tysons with more than 500 affordable rental homes for residents earning 60 percent or less of Area Median Income. This affordable housing community will be designed, built, owned, and operated by APAH in coordination with the owners of the land – the Fairfax County Redevelopment and Housing Authority. In addition to providing essential workforce housing in one of the area’s largest urban centers with easy access to mass transit and employment opportunities, The Exchange at Spring Hill Station will also incorporate a 30,000 square-foot community center on the site. Once completed, the community center, and its recreational programs, services, and resources, will be managed by the Fairfax County Department of Neighborhood and Community Services.
Regional partners including the Arlington Partnership for Affordable Housing, U.S. Rep. Gerry Connolly, along with Fairfax County officials, broke ground on what will be the first 100 percent affordable housing project in Tysons, and one of the biggest in Virginia. With Clark Construction, which has a regional office in Tysons, as the lead contractor on the project, the 516-unit building is funded in part with $56 million provided by Amazon’s $2 billion Housing Equity Fund, as well as $89 million from the Virginia Department of Housing and Community Development and $227 million in financing from Bank of America. The Virginia Housing Trust Fund is also contributing to the funding.
The Exchange at Spring Hill Station, at 1592 Spring Hill Road in Tysons, will include 516 one-, two- and three-bedroom apartments and a 20,000-square-foot county-run community center, with an indoor basketball court, fitness center and programming operated Fairfax County Neighborhood and Community Services. The apartments will be available to residents earning between 30 percent and 70 percent of the area median income in Tysons. The Exchange is near Metro’s Spring Hill Station. The Exchange is expected to be completed in approximately four years.
“Despite its economic muscle, Tysons has remained out of reach for many who work here to also live here. That is why the groundbreaking of The Exchange at Spring Hill Metro is so important,” said Chairman of the Fairfax County Board of Supervisors Jeffrey C. McKay. “We are providing homes for those who fuel the local economy. In order to remain the economic hub of Fairfax County, Tysons’ workers need to have the opportunity to live near where they work.”
The Tysons Community Center will be a 30,000-square-foot facility and serve as a multi-generational facility for the surrounding communities. It will be part of the Exchange at Spring Hill Station development, just a few blocks away from the Spring Hill Metro station in Tysons. The two-acre parcel where the development will be constructed will be purchased by the Fairfax County Redevelopment and Housing Authority (FCRHA) that will lease the property to APAH for the development, construction, ownership, and operation of the affordable housing community.