Lafayette Apartments Emerge from $16M Makeover

ALEXANDRIA, VA-Affordable rental housing developer Silverwood Associates has wrapped up the renovation of the property now called Lafayette Apartments. The official ceremony celebrating the opening of the complex, formerly known as Groveton Garden Apartments, comes about a year after the developer purchased the multifamily residential community for $38 million. Silverwood spent $16 million to redevelop the property, which features 360 units for households that bring in no more than 60% of the area median income.

Located on 17 acres at the corner of Lockheed Blvd. and Harrison Lane, the new-and-improved complex sits just across the street from Huntley Meadows Park. Renovations–funded through tax credit equity and the Virginia Housing Development Authority–have brought a 6,000-sf clubhouse, a community room and residence office space to the property.