Originally built in 1939, Barcroft Apartments is a 1,334-unit garden style apartment complex located along Columbia Pike in Arlington, VA. Jair Lynch purchased the 60-acre site, including two commercial parcels with 34,000 SF of retail, in December 2021 with financing support from the Amazon Housing Equity Fund and Arlington County. The purchase of this naturally occurring affordable housing complex, also known as market-rate affordable housing, comes as part of Jair Lynch’s broader initiative to preserve and/or increase affordable and workforce housing throughout the Mid-Atlantic region for working families and individuals earning between 30% – 120% of the area median income (AMI). To date, Jair Lynch has invested over $1BB toward this strategy.
Jair Lynch will preserve the affordability of 1,334 units for 99 years and will conduct a full master planning process beginning in 2022. This project represents Jair Lynch’s largest naturally occurring affordable housing acquisition to date.