F.C. Council Eschews Money for Housing Units

In a surprise move Monday night, the Falls Church City Council voted unanimously to accept the offer of Atlantic Realty to provide 15 affordable housing units in its large, mixed-use project approved for 500 S. Maple St.

The Council had previously indicated it would prefer a mix of affordable units and a cash contribution of $640,000 to its Affordable Housing Fund. Atlantic Realty said it was agreeable to any combination of units or cash at the equivalent to $80,000 per unit up to 15 total. City Manager Dan McKeever said Monday his staff determined that going for all 15 units, in lieu of any cash, would provide the city with the “best bang for the buck.”

Ray Spicer, head of the City's Housing and Human Services division, said that the sharp rise in the value of housing in the region has caused most jurisdictions in the area to prefer units over cash in such arrangements. It has caused the approach of using cash to subsidize persons in need of affordable housing prohibitive, he said.

Developer Bob Young spoke in favor of retaining a unit and cash mix, noting that cash can be “more flexible and can be leveraged” to provide more affordable housing than an all unit contribution can provide.