VIRGINIA BEACH, VA – August 24, 2021 – Virginia Beach developer Lawson closed on a 21-acre parcel of land located on Annapolis Way in Woodbridge, Virginia and will build 342 affordable multifamily apartments on the site. Lawson was able to utilize tax-exempt bonds and 4% tax credits to help fund the development, called The Landing at Mason’s Bridge.
The Landing at Mason’s Bridge includes 8 residential buildings with a total of 342 affordable apartments serving families earning 60% AMI (Area Median Income) or below. The unit mix consists of 56 one-bedroom, one-bathroom, 159 two-bedroom, two-bathroom, and 127 three-bedroom, two-bathroom apartments. Eighteen units are Uniform Federal Accessibility Standard (UFAS) Section-504 compliant units for residents with qualifying disabilities. The community features high-end amenities including a resort-style pool and clubhouse, handicap accessible playground, modern fitness center, on-site laundry facility, bicycle storage, dog park, grill and picnic area, fire pit, community room, security cameras, and controlled access.
Lawson has received multiple awards for innovative, top-quality affordable housing developments in Virginia. Lawson President and CEO, Carl Hardee said, “The Landing at Mason’s Bridge sits in a prime location close to I-95 with easy access to employment centers. We’re thrilled to be a part of the Woodbridge community.”
Lawson expects to welcome new residents to the community in Summer, 2023.
About Lawson: At Lawson, we understand that what we do – and how we do it – affects the everyday lives of people we care about. Since 1972, we’ve focused on positively impacting the communities we serve, from team members and residents to investors and business partners. We manage and own nearly 6,000 apartment homes and continue to grow with approximately 1,200 more in development. Our business model provides vertical integration of development, construction, property management and asset management, which enables our team of experts to add value at every stage for our partners. When you act with integrity, focus on quality and work to find creative solutions, great things are possible. It’s how we’ve done business at Lawson for over 45 years. For more information please visit www.lawsoncompanies.com
About Virginia Housing: When homes are affordable and accessible to jobs, good schools and transportation, everyone benefits. Individual lives are improved and communities as a whole grow stronger. Virginia Housing was created in 1972 by the General Assembly to help Virginians attain quality, affordable housing. We carry out this mission by working in public-private partnerships with local governments, community service organizations, lenders, Realtors, developers and many others. We provide mortgages for first-time homebuyers, as well as financing for apartment communities and neighborhood revitalization efforts. We offer free homebuyer classes, support housing counseling, and help people with disabilities and the elderly make their homes more livable. We also administer the federal Housing Choice Voucher and Housing Credit programs in Virginia. Virginia Housing is self-supporting and receives no state taxpayer dollars to fund our programs. Instead, we raise money in the capital markets, and we contribute a significant portion of our net revenues each year to help meet Virginia’s most difficult housing needs.