Quebec Apartments Emerges from $11M Upgrade

ARLINGTON, VA-The $11-million renovation of the 172-unit Quebec Apartments reaches completion a year after work began on the 44-year-old property. In the upgrade process, complex owner Silverwood Associates Inc. has converted 24 two-bedroom units into three-bedroom, two-bathroom apartments in an effort to accommodate larger families. “Only 3% of the apartments in Arlington County have 3 bedrooms,” Silverwood president Mark Silverwood says. “One of the County’s goals is to increase the number of housing units that meet the needs of families with children, and we try to help meet that need whenever we can.”

Much of the housing is reserved to accommodate renters that fall beneath the area’s median income. About 129 of the 172 units have income limits and the remaining 43 units are to be leased at market rent levels. To support the project, Freddie Mac and Boston Capital placed a substantial tax credit equity investment in the property, and the Affordable Housing Investment Fund of Arlington County provided Silverwood with a low-interest loan.