Concept design for Gateway at Beauregard and King Streets. Photo Contributed
Currently a strip mall, the 5.3 acre site at the corner of Beauregard and King streets could soon become part of Alexandria’s push to regain affordable housing units.
At the public hearing on Nov. 14, the City Council will vote on a $5.5 million loan to the Alexandria Housing Development Corporation (AHDC) for development rights for 74 apartment units. The new housing will be part of a planned mixed use development complex called Gateway that includes 352 rental units, a Harris Teeter, and additional, undefined retail and office space.
The affordable housing component will aim at providing housing for residents between 40 and 60 percent of area median income. Unit size ranges from one-room “efficiencies” to three-bedroom units. AHDC has also submitted a loan application to the Virginia Department of Community Development for state housing trust fund financing, which if accepted could help AHDC expedite repayment of the loan to the city.
Construction is expected to begin at the site in October of 2016, with completion in June of 2018 and leased by that October.