May 7, 2025
A nonprofit focused on preserving affordable housing is purchasing a residential unit to keep it affordable in the long term.
ALEXANDRIA, VA — Nonprofit Good Shepherd Housing is making its entrance into the City of Alexandria with the first purchase of affordable housing.
The Fairfax County-based nonprofit, which works to preserve affordable housing, announced the purchase of a one-bedroom condominium unit in the Landmark-Van Dorn neighborhood. Good Shepherd Housing plans to keep the unit affordable for at least 99 years to serve low-income residents.
This is the nonprofit’s first purchase in the City of Alexandria. Thus far, Good Shepherd Housing has provided affordable apartment rentals south of the city in the Richmond Highway corridor of Fairfax County.
“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.”
The purchase was done in partnership with the City of Alexandria’s Office of Housing and funding from the Housing Opportunity Fund. The seller was John McManus, a senior vice president at LINKBANK, which has made partnerships with the region’s affordable housing developers. The Women in Housing and Finance Foundation provided funding for closing and improvement costs.
“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,” said Tamara Jovovic, housing program manager of the City of Alexandria’s Office of Housing.
Good Shepherd Housing has been around for more than 50 years and oversees at least 100 housing units and serving more than 1,000 people. In April, it celebrated the opening of its 100th housing unit.
According to the Good Shepherd Housing website, its average rent for a one-bedroom unit is $1,125. The income limit for that is $45,000 to $54,150 for one person and $45,000 to $61,900 for two people. The two-bedroom average rent is $1,500, limited to $60,000 to $61,900 incomes for two people, $60,000 to $69,650 for three people and $60,000 to $77,350 for four people. The $1,650 average rent for a three-bedroom is for households with $66,000 to $89,750 people, depending on the household size.
Reprinted from Patch. See the original here.