Homebuilder AHC Inc. plans to start work on a $100 million project that will convert The Berkeley at 2900 S. Glebe Rd. in south Arlington, Va., into an expanded mixed-income rental community in the week ending June 1, the Washington Business Journal reported.
The 1960s apartment complex, which contains two buildings aggregating 138 affordable housing units, will be replaced with two five-story buildings totaling 256 units.
The development reportedly is being funded by low-income housing tax credits from Virginia Housing Development Authority and loans from Arlington County's Affordable Housing Investment Fund, along with company funds and private construction loans.
MTFA Architecture is designing the project, which is expected to be delivered in 2020, according to the publication.
