Pressure on Affordable Housing in Falls Church Due to Tax Credit Expirations
What happened
The City of Falls Church is grappling with how to maintain and expand its stock of affordable housing. The City government has been considering the use of eminent domain as a planning solution for various sites. This pressure is compounded by the near-term expiration of federal tax credits that have supported affordable units at The Fields, an apartment complex on Ellison Street.
From fcnp.com
Why it matters
The owners of the complex are under pressure to let the credits expire or sell the land for redevelopment. The current viability of the project is being weighed against the potential for a profitable sale of the land to developers who could build market-rate units.
From fcnp.com
Who's involved
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The entities involved
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Fields
chain of discount department stores operating in the Canadian provinces of Alberta and British Columbia
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