Sign Up For Novogradac Industry Alert Emails

2023 Development that Best Preserves Existing Affordable Housing

Lake Anne House

Developer: Enterprise Community Development / Fellowship Square Foundation
Location: Reston, VA

dod-awards-lake-anne-house-2023.jpg

Lake Anne House–a 240-apartment property–was built on land adjacent to an aging, functionally obsolete 1970s-era senior housing property in Reston, Virginia, as Enterprise Community Development partnered with Fellowship Square Foundation to complete the development. All apartments are universally designed and Earth Star- and EarthCraft-compliant and the property includes a new management office, resident service office, wellness center, social hall, arts-and-crafts room, resident lounge and large outdoor patio. The new steel-and-concrete building overlooks historic Reston and Lake Anne village in an area near retail and recreational opportunities. The development plan allowed existing residents to remain in their old apartments while the new building was built next door. Lake Anne House required a complex mix of financial resources and was completed in May 2022. Financing was provided by Virginia Housing, Capital One, Fairfax County and the state of Virginia.

Return to 2023 Developments of Distinctions Awards

Learn more about Novogradac's expertise and many services