By Ryan Belmore
We’re proud to share a new chapter in our mission: Good Shepherd Housing has completed its first affordable housing acquisition in the City of Alexandria! (via Good Shepherd Housing)
Good Shepherd Housing (GSH) is making its first move into Alexandria by buying a one-bedroom condo in the Landmark-Van Dorn area.
This purchase is a team effort between GSH, the City of Alexandria Office of Housing, and a seller who shares their mission. The Housing Opportunity Fund helped finance the deal.
The unit will remain affordable for at least 99 years, ensuring long-term stability for low-income residents and reinforcing the City’s and GSH’s shared commitment to inclusive, stable communities.
“Bringing our mission to Alexandria reflects our strategic growth and deep commitment to meeting housing needs across the region,” said Genee Hayes, Executive Director of Good Shepherd Housing. “Our scattered-site housing model is a proven tool in regional housing preservation efforts, and we’re proud to bring that model to Alexandria as the region confronts the affordable housing crisis.”
John McManus, a Senior VP at LINKBANK, sold the property.
Tamara Jovovic, Housing Program Manager of the City of Alexandria Office of Housing added “The City of Alexandria is pleased to be working with a new partner, Good Shepherd Housing, to leverage the organization’s proven success and expertise in managing scattered site portfolios to help preserve affordability and stability for vulnerable Alexandria households.”
The Women in Housing and Finance Foundation chipped in too, covering closing costs and property improvements.
“With this purchase, GSH continues its strategy of acquiring and preserving housing in amenity-rich, transit-accessible neighborhoods to ensure long-term affordability and access for low- to moderate-income households,” the organization says in a press release.
GSH is celebrating its 50th year and currently manages over 100 housing units. They help more than 1,000 families and individuals in need across Northern Virginia.
Reprinted from ALXNow. See the original here.