• For more information on Green Party membership or to contact Green Party leadership, email info@greensofarlington.org Join the Arlington Greens on Wednesday, June 7, 2018 at 7:30 pm at the Community Room of the Arlington County Fire Station 2 Ballston, 4805 Wilson Blvd Arlington, VA 22203

April 5, 2018

Queens Court– Luxury Housing at Public Expense for Not-so-Low Income Renters in Rosslyn, and Crony Capitalism for Well Connected Developers

The county board continued its wasteful policy of throwing public money to developers when it approved on Feb. 22, 2018 about $8 million in local funds for another massive high rise apartment building in Rosslyn, called Queens Court, with another $20 million promised later this year. The project will cost nearly $40 million with this entire amount coming from public sources (the county, VHDA, and HUD).

Queens Court today

This is yet another example of crony capitalism—building a few apartments fit for a queen and giving the developer an excellent profit. The iron triangle, the affordable housing industrial complex, once again produces a white elephant at public expense and short changes tenants and taxpayers.

Arlington County gives tens of millions of dollars annually to developers to build so-called “affordable apartments” that end up not being affordable to the neediest Arlington residents, and mostly just subsidies crony developers and insiders at the expense of taxpayers and low income Arlington renters. Queens Court is aptly named, a luxury complex fit for a queen and the lucky few, and an immediate $3 million profit maker for the developer.

A nonprofit housing developer APAH will tear down the current modest garden apartment complex with 39 units, and build an apartment tower with about 250 units that will mainly (82 percent) go to people earning 60 to 80 percent of the of the area median income (AMI) ($60,000 to 80,000 for a family of four). Exactly 9 units will be rented to the lowest income Arlington residents, those making less than 40 percent AMI ($33,000 for a single or $38,000 for a couple).

The Queen units will cost $440,000 each, a ridiculously high amount compared to the large number of condos available for sale for less. Zillow.com listed 199 condos and townhouses for sale in Arlington in April 2018 for under $440,000, many well under $300,000. Right across the street from Queen Courts is the Crestwood Apartments with 63 units valued at only $230,000 per apartment. Why not just buy the Crestwood Apartments for its 2018 tax assessed value of $15 million?

Queens Court

Only in Arlington would anyone consider $440,000 apartments rented to people mostly making over $60,000 a year as “low income housing.” Somebody earning $60,000 to $80,000 a year is not low income by any standard even in Arlington.

Those who are low income of those earning below 50% AMI. There are now 9,000 households earning less than 50% AMI in Arlington who get no housing assistance at all today. Only 45 units in Queens Court are going to be rented to any of these 9,000 households.

Far more effective are the county’s housing (rental) grants that currently help about 1,200 households of seniors, disabled and families with a child with a monthly housing grant that reduces their rental cost. The program spends about $9 million annually. All of these renters have incomes well below $27,000 a year (30 percent AMI).

Arlington Greens have repeatedly asked the county government to allocate far more of its $38 million in housing assistance to housing (rental) grants. If the county had allocated the $28 million to be spent on Queens Court to housing grants of even $300 a month, then about 7,000 households—all earning under 50% AMI–would have benefitted. Instead 250 households with incomes above $60,000 get to rent a new queen apartment in Rosslyn.

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