New Senior Housing in Loudoun County
Address
Under Construction!
This project will create 130 new affordable homes for independent seniors aged 55+ earning between 30-60% of the area median income (AMI). The project is one part of a master-planned community by Peterson Companies, Avonlea Town Center, which will include nearby amenities.
This development represents True Ground’s second affordable senior community located in Loudoun County and is scheduled to be completed in the summer of 2026. Construction and design partners include general contractor Bozzuto Construction, Advanced Project Management (APM), Grimm + Parker Architects, Moya Design Partners, Allen + Shariff Corporation, and Urban Ltd. civil engineers.
Financing
This development is an approximately $64 million project, with construction costs close to $33 million. Virginia Housing awarded the project 9% and 4% Low-Income Housing Tax Credits (LIHTC), marking True Ground’s eighth project to employ this complex hybrid financing model. Approximately $29 million in tax credit equity was purchased by financial partner, Truist. Project financing sources include more than $6 million from Loudoun County’s Affordable Multi-Family Housing Loan program, $7.5 million from Amazon REACH funds, $1.4 million in Virginia Housing Trust Fund financing, and $4 million from Virginia’s Housing Innovations in Energy Efficiency (HIEE) program, administered by the state Department of Housing and Community Development (DHCD).
In the News
True Ground Housing Breaks Ground on $64M Affordable Seniors Housing Community in Metro DC, REBusiness, March 21, 2025
Key Features
- Community rooms and flexible multi-purpose space
- Wellness suite
- High-speed Wi-Fi
- Telehealth services
