F.C. Housing Corp. Moves Forward with Scaled-Back Plan for Affordable Housing in Downtown F.C.

Falls Church, VA, — The Falls Church Housing Corporation (FCHC) briefed the F.C. City Council tonight on its plans to file for Virginia Housing Development Authority (VHDA) tax credits by the May 14 filing deadline with a scaled back plan to put 120 to 130 affordable housing units on downtown property in Falls Church.

The plan is revised down from the 174-unit proposal that won City Council approval in December, due to the collapse of the economy and the credit markets. The FCHC has retained a new collaborator, Community Builders, Inc., a nationally-renowned non-profit affordable housing developer, to help it gain approval from the VHDA for the newly-configured project, and its representative, Robert Fossi, expressed optimism that the new project plan, while scaled back, will win the tax credits from the VHDA.