For the first time in its 40-year history, AHC Inc., a Washington, D.C.-based
Strength Matters member, has taken on a new role as affordable housing investor and partner in a new $39 million joint venture partnership with Jonathan Rose Companies (JRC) and Friend of Strength Matters Community Development Trust (CDT).
Together with JRC and CDT, AHC Inc. will help preserve Lafayette Apartments, a 340-unit affordable housing complex that will undergo a moderate renovation effort in 2017, while keeping tenants’ rents affordable in northern Virginia’s Fairfax County. The transaction by Rose Affordable Housing Preservation Fund, a managed fund sponsored by JRC, in partnership with CDT and AHC, represents the acquisition of 100 percent of the General Partner interest and Limited Partner interest in the property.
Strength Matters asked John Welsh, AHC Vice President, Multifamily Group, to share his insight on what prompted AHC’s bold move.