Monday, March 7, 2011

HCA Launches Affiliate Nonprofit to Aid Neighboring Communities

For 25 years, the Housing Corporation of Arlington has increased and maintained affordable housing in Arlington­­­­­—and in 2010, HCA launched its most ambitious affordable housing project to date: Capitol Square Apartments, which will renovate three turn-of-the-century apartment buildings in East Arlington into 32 safe and affordable units for low-income residents. As HCA looks to the next 25 years, the organization is taking steps to make sure it remains strong and sustainable so that it can continue improving the lives of low-income residents.

Over the past several years, surrounding communities have approached HCA to help them develop affordable housing in their neighborhoods. The lack of affordable housing is a regional issue, and these requests are a testament to HCA’s reputation for developing and maintaining high-quality units for families and individuals. After years of careful thought and discussion, HCA has formed a new, related non-profit to expand our impact in improving communities in the Arlington area. Academy Development Partners, an affiliate of HCA, will partner with other local community organizations and municipalities to develop affordable housing in surrounding communities.

Working outside of Arlington will allow HCA to share expertise, find regional affordable housing solutions, and bring in new revenue to increase our staff and the assistance we provide in Arlington. HCA will help develop properties, build local capacity, and expand affordable housing opportunities for low-income families and individuals. HCA’s work in other communities will generate income to cover expenses, and bring even more resources into Arlington.

“For a small, community-based non-profit like ours, 25 years is quite an achievement,” says David J. Levy, Executive Director, “Academy Development Partners will allow us to stay relevant and effective in a regional capacity while continuing to focus our efforts in Arlington with projects such as Capitol Square. It is a win-win.”