Jair Lynch Real Estate Partners purchased Barcroft Apartments, a 60-acre, 1,334-unit apartment community. The acquisiton also included two commercial buildings with 34,000 square feet of retail space. Jair Lynch purchased this naturally occurring affordable housing community, also known as market-rate affordable housing, as part of its broader initiative to preserve and/or increase affordable and workforce housing throughout the region.

Jair Lynch Real Estate Partners is a leading real estate investment and development firm that specializes in the thoughtful transformation of walkable urban places. Founded in 1998, Jair Lynch has acquired, developed, and operated a portfolio of residential, commercial, and neighborhood assets that contribute to the company’s mission of creating extraordinary places. Visit www.jairlynch.com to learn more.

This investment was supported by the Amazon Housing Equity Fund and Arlington County government who have collectively committed to providing $310 million in immediately available acquisition financing to create a public-private partnership for a reimagined Barcroft neighborhood. This new partnership will help Jair Lynch ensure that 1,334 units will remain affordable with rents up to 60% of the Area Median Income (AMI) for 99 years.

No current resident in good standing will be displaced as a result of this process or redevelopment. The Jair Lynch team is committed to ensuring that every resident who wants to remain at Barcroft will have the opportunity to stay regardless of income or residency status. Rents will also remain stable for 2022, after which, rents for current residents will increase by no more than 3% per year up to a cap of 60% AMI rent levels.

As the project moves forward the team will rely on its residents, neighbors and community stakeholders to shape its future via a robust Barcroft community engagement plan. That plan includes virtual and in-person listening sessions, interactive surveys and one-on-one meetings that will help to drive design and direct its development. Stay informed about the latest opportunities.

The Master Financing and Development plan is a required document of the financing agreement with Arlington County and Amazon. The document reaffirms that the financing from the County and Amazon will be sufficient to achieve the goals of the plan based on today’s market conditions.

The MFDP is part of the requirements of the financial arrangement between Jair Lynch, Amazon, and Arlington County. The MFDP is not a site plan. It is a preliminary vision for the Barcroft Apartments property. A more detailed plan will be developed based upon staff analysis and community review that will likely result in more specific actions by the County Board.

Over the past several months, Jair Lynch has been focused on collecting input from Barcroft residents. Jair Lynch’s priority has been making sure residents’ voices are heard, and that they understand that no legacy residents in good standing will be displaced through the process regardless of income, immigration status, or household size.

Jair Lynch and Gates Hudson have been engaging with the resident community via a dedicated website, resident surveys, on-site community gatherings, and in-person meet-and-greets to find out what is most important to residents.

Jair Lynch has begun an engagement period with the broader Arlington community, sharing concepts and soliciting feedback via public meetings and information sessions. They also will continue resident engagement opportunities to enable ongoing feedback from residents.

County staff will be conducting its formal review of the MFDP. This will include evaluation of proposed land use concepts, including some proposals by JLREP that diverge from the existing Neighborhood and Commercial Form-Based Codes policies and ordinances. Staff will also review financing tools by analyzing all available sources and uses to accomplish the housing and development goals for the Barcroft site. A more detailed plan will be developed based upon staff analysis and community review that will likely result in more specific actions by the County Board.

As part of the relocation process, we have strategically left some homes unleased to ensure maximum flexibility for our current residents when it is time for them to relocate.Item description

Yes. To become a resident at Barcroft Apartments your income must be at or below 60 percent of the Area Median Income (AMI). You can find details related to the 60% AMI income levels here.