A 259-unit apartment community built in the late 1980s is getting a new owner and new name as part of multi-million-dollar effort to preserve the complex as an affordable housing project.
As anticipated, developers AHC Inc. and Insight Property Group have acquired the Colvin Woods apartments in an effort to preserve the complex. As part of the change in ownership, the community will be rebranded as Haven Reston.
“Haven is Insight Property Group’s workforce and affordable housing brand. It is normal for them to rebrand with it,” an Insight spokesperson told FFXnow.
The acquisition follows the approval of a $15 million Housing Blueprint loan in early August.
“Partnering with local jurisdictions to address the urgent need for workforce and affordable housing in the DC Metro area has proven to be something that Insight is particularly well suited for,” said Insight Group partner Mae Klinger.
While the community has historically been a market-affordable community, no rent restrictions are currently in place to preserve that affordability. The complex includes a mix of one- and two-bedroom apartments, a leasing office, clubhouse and swimming pool.
The new owners will institute a phased approach to ensure that 60% of the units are occupied by residents earning a maximum 60% of the area median income and 40% of the units are occupied by residents earning no more than 80% of the AMI.
“Preserving the affordable housing in this beautiful woodland area, full of nearby amenities, is central to our mission of helping residents thrive,” AHC President and CEO Paul Bernard said.
Through October 2025, current leases with residents who are in good standing will remain unaffected. But by October 2027, all units will be preserved as affordable. After 10 years, the property will be refinanced through low-income housing tax credits — supporting a rehabilitation of the overall property, according to the county.
The new team plans to upgrade the building’s facade, common areas, amenities and landscaped areas. Gates Hudson will continue to manage the property.
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Synetic Theater Camps are a wildly fun, highly accessible choice for young people who love moving, playing games, and making memories. Registration is open now for Summer Camps (sessions June 20-August 25) and there are even a few spots left for Spring Break camp, April 3-7.
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McLean Volunteer Fire Department-Inova Blood Drive
MVFD has teamed up with Inova Blood Donor Services for a blood drive on Friday, March 31, in our lower parking lot at 1455 Laughlin Avenue. The blood drive will run from 1:30 p.m. to 5:30 pm. Please consider making
Van Metre 5K Run
Calling all serious runners, occasional joggers, and weekend walkers of all levels! Participate in the 31st Annual Van Metre 5K Run supporting Children’s National Hospital–the event that goes a long way!
Date: Saturday, April 29, 2023
Time: 8:30AM
Location: Broadlands
