221 Units

Parkwood Apartments

6034 Vista Drive, Falls Church, VA 22041

Parkwood Apartments in Falls Church, Virginia offers 1 – 2 Bedroom apartments. Community features include on-site laundry, clubhouse, and playground.

Property Overview
  • Existing Section 42 LIHTC property, expiring in 2025
  • Financed with Freddie Mac Bridge Debt and Private Equity
  • YE 2018 tax credit resyndication with extension of affordability
  • Renovation- budgeted rehab scope of 13.7mm ($62k per unit)
  • Will increase total units from 221 to 225 with re-syndication
  • Financed with Tax Exempt Bonds as a Section 221(d)(4), and Fairfax County’s Blue Print program
Affordable Requirements:
  • Placed in service in 1996
  • TCCP ends on December 31, 2010
  • LIHTC LURA – 100% at 60% AMI