Background

In December 2021 Jair Lynch Real Estate Partners purchase Barcroft Apartments, a 1,334-unit garden style apartment complex located along Columbia Pike in Arlington, VA. Originally built in 1939, Barcroft Apartments is a 60-acre site with 1,334 apartments and two commercial parcels with 34,000 square feet of retail.

The Arlington County Board committed a loan of $150 million in support of this acquisition and Amazon committed a $160 million loan from Amazon’s Housing Equity Fund to support the preservation of the neighborhood’s long-standing affordability. The County’s and Amazon’s funding will also support Jair Lynch in addressing immediate repairs, adding amenities, making property upgrades, and taking steps to improve the residents’ overall living environment.

The deal ensures that all of the 1,334 units will remain affordable with rents up to 60 percent of the Area Median Income (AMI) for 99 years and provides the opportunity to reimagine the site through a master planning process and accelerate the transformation of the Columbia Pike Corridor.

Developing a Master Plan

Jair Lynch has embarked on a master planning process that will meet many of the goals, objectives and policies of the County's Affordable Housing Master Plan and the Columbia Pike Neighborhoods Area Plan to enable a vibrant, mixed-use, mixed-income community.

A robust resident engagement plan is in place to ensure Barcroft residents’ voices are heard throughout the longer-term master planning process. Additionally, Jair Lynch and Arlington County will work together to ensure that any current residents who need additional rent support are connected with community organizations for assistance.

Master Planning Goals and Objectives

Preserve 1,334 apartments up to 60 percent of the AMI for 99 years
Improve existing housing options to achieve a housing mix that serves diverse households
Support a pedestrian-friendly, multi-modal corridor by enhancing the streetscape and connectivity with the Columbia Pike Corridor
Elevate this longstanding neighborhood community with contemporary spaces and amenities
Integrate neighborhood-focused services and programmed open space
Enhance urban design and architectural features
Incorporate sustainable building design principles.

The Development Team

Jair Lynch Real Estate Partners is a leading real estate investment and development firm in the Mid-Atlantic market that specializes in the thoughtful transformation of walkable urban places. Founded in 1998, Jair Lynch has acquired, developed, and operated a portfolio of residential, commercial, and neighborhood assets that contribute to the company's mission of creating extraordinary places. The firm has developed over 5.6 million square feet of real estate projects, currently has $2.8 billion of assets under management, and has a controlled pipeline of 4.6 million square feet valued at more than $1.7 billion. Visit www.jairlynch.com to learn more.

The company has assembled a team of professional planners, architects, and engineers to map out the framework of the master plan while ensuring residents' voices are heard and needs are met during this process.