PDF Wesley Housing Development Corporation 2016 ANNUAL REPORT

Wesley Housing

Development

Corporation

2016 ANNUAL REPORT

PROVIDING SOLUTIONS SINCE 1974 Wesley Housing has been providing affordable housing solutions since 1974. Former school teacher Virginia Peters established the nonprofit organization in response to a study by her church's affordable housing task force that revealed the staggering number of low- and moderate-income families, seniors, and disabled individuals with few or no viable options for decent, affordable housing.

We provide superior services to our residents and work closely with our property management company, Wesley Property Management Company (WPMC). WPMC is certified by the Virginia Housing Development Authority (VHDA) and the property management staff is certified in all aspects of affordable housing industry guidelines in the Commonwealth of Virginia, including Federal Low-Income Housing Tax Credit and HUD guidelines.

TABLE OF CONTENTS

4

About Wesley Housing

5

2016 Development Highlights

6

Our Residents

7

Resident Services By the Numbers

8

Our Communities

9

Financials 2016

10 Our Leadership 11 Our Partners

Wesley Housing Development Corporation 5515 Cherokee Avenue, Suite 200 Alexandria, Virginia 22312 (703) 642-3830 wesleyhousing@ @wesleyhousing

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2016 ANNUAL REPORT

ABOUT WESLEY HOUSING

MISSION: To develop, own, operate, preserve, and maintain affordable housing and sustain quality communities for low- and moderate-income families and individuals across the Washington, D.C. region.

Just a few streets away from high-end homes, families with low- and moderateincomes struggle to keep a roof over their heads. With three of the top five wealthiest counties in the country located in Northern Virginia, real estate and housing costs are among the highest in the U.S. -- 39% more than the national average. More than one in five area residents pay over 50% of their monthly income for rent and utilities.

The heart and soul of Wesley Housing's mission lies in our commitment to combine affordable housing with family programs and supportive services to foster positive development and self-sufficiency for all adults, children, and families.

WESLEY HOUSING OFFERS SOLUTIONS

Since 1974, Wesley Housing, a 501(c)3 nonprofit charitable organization, has sponsored the development of:

? 28 communities in Northern Virginia and Washington, D.C.

? 2,100+ total housing units serving over 25,000 individuals

? Four on-site Community Resource Centers ? Five on-site Resident Services Centers for seniors

and people with disabilities ? A comprehensive property management team

2016 ANNUAL REPORT

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2016 DEVELOPMENT HIGHLIGHTS

Wesley Housing Development Corporation (WHDC) started 2016 strong, with 242 units under construction and 156 units ready to start construction. Whether it was

delivering a standard-setting mixed-income community, closing on a complex publicprivate deal, or expanding its territory to a sixth jurisdiction, Wesley displayed the persistence and creativity needed to address the region's affordable housing needs.

Ribbon cutting Lynhaven and William Watters

The renovations for both will ensure the

properties are as desirable as their areas. This project is notable for pairing subordinate loans from Alexandria

and Arlington into a single deal.

Completion of Union on Queen mixedincome property partnership with The Bozzuto Group

Wesley and Bozzuto transformed the 50?

unit Pierce Queen apartments into a modern, 193-unit community. 40% of the units are for lowand moderate-income

renters.

Wexford Manor renovations

In 2016, WHDC closed on an innovative

financing structure and began renovation of its 74-units and collocated Community Resource

Center. The project will be completed Fall

2017.

The Fallstead at Lewinsville

Center

This is a public-private partnership between Fairfax County and Wesley. In 2016 Wesley

began building an 82-unit affordable independent senior apartment complex, alongside a new county community

center.

Brookland Place

acquired

Acquired through DC's Tenant

Opportunity to Purchase Act, and awarded funding from DC's Housing Production Trust

Fund. Wesley will undertake

renovations beginning in late

2017.

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