How a Fast-Track Pilot Built 100% Attainable Housing in Record Time

STERLING, Va. — October 28, 2026 — Housing is the fundamental bedrock of regional economic competitiveness. In affluent enclaves like Loudoun County, Virginia, the widening chasm between median wages and market-rate rents threatens to hollow out the local workforce, fracturing the very service and labor supply chains that sustain high-growth markets. Yet, a ribbon-cutting ceremony held today in Sterling signals a potential paradigm shift in how municipalities address this crisis.

Green Street Housing and Good Housing have officially opened Atlantic Blvd Apartments, an 80-unit community that stands as the county’s first 100% attainable new development in decades. But the real story for industry observers isn't just the building itself—it's the unprecedented speed at which it was financed, permitted, and constructed. By treating affordable housing with the same regulatory urgency typically reserved for commercial enterprise, local officials have offered a masterclass in bureaucratic agility, proving that the affordable housing sector is in the early innings of a profound operational transformation.

Adapting Commercial Speed for Public Good

The traditional timeline for affordable housing development is notoriously sluggish. Projects are frequently bogged down by Byzantine zoning processes, sequential permitting, and community opposition that can stretch the development lifecycle to half a decade or more. Atlantic Blvd Apartments shattered this mold, moving from rezoning application to ribbon-cutting in less than three years.

This velocity was achieved by borrowing a page directly from the commercial sector's playbook. For years, Loudoun County has utilized a Fast-Track Commercial Incentive Program to court desirable businesses by streamlining their development pipelines. Recognizing the critical shortage of workforce housing, the Board of Supervisors made a calculated policy pivot, piloting an "Expedited Review" process specifically for this residential project.

The results of this administrative experiment speak volumes. The rezoning application was approved in June 2024—a brisk six-month turnaround—converting the site to R-24 Multifamily Residential. By fast-tracking the approvals, the county effectively eliminated years of carrying costs and inflationary construction risks that often kill affordable projects before ground is even broken.

"This project shows what a local jurisdiction can do when they really want attainable housing," said Kim Hart, Co-Manager of Good Housing VA and Co-Owner of the property. "This is likely one of the fastest deliveries of an apartment building in a major suburban municipality in the country."

This regulatory pivot proves that when political will aligns with bureaucratic flexibility, the timeline hurdles that choke the supply chain of residential real estate can be decisively cleared.

From Decommissioned Infrastructure to Class A Living

The innovation of Atlantic Blvd Apartments extends beyond the permitting desk to the physical dirt itself. The three-acre parcel at 21895 Atlantic Blvd was not a pristine greenfield waiting for a developer's plow. It was a retired Virginia Department of Transportation (VDOT) stormwater retention pond—a leftover, seemingly undevelopable eyesore from the original construction of Atlantic Boulevard.

Transforming decommissioned, obsolete infrastructure into habitable, high-density residential use is a complex civil engineering feat. It requires rigorous environmental assessments, creative infill development strategies, and close coordination with environmental quality regulators to ensure site safety and proper drainage mitigation.

Good Housing Co-Managing Member, John Pellerito, praised the project for its innovation. "These three acres were a retired VDOT storm water pond, left over from the construction of Atlantic Blvd," said Pellerito. "Who would have thought this eyesore could be turned into beautiful Class A apartments for deserving, working families of Sterling, VA."

The resulting 106,000-square-foot building doesn't just meet basic shelter needs; it pushes the envelope on sustainability. The highly energy-efficient structure has earned both National Green Building Standard (NGBS) and Energy Star certifications. It features a pollinator garden, a tot lot, covered long-term bicycle storage, and direct access to the regional W&OD Trail. By repurposing an overlooked, municipally adjacent parcel, the developers bypassed the intense land-cost bidding wars that often make 100% affordable projects financially unviable in premium East Coast markets.

The Economic Imperative of 60% AMI

To truly understand the market dynamics at play, one must look at the math of living in Loudoun County. Market-rate rents in the Sterling area routinely hover between $1,895 and $2,445 for a standard one-bedroom apartment, with larger family units easily breaching the $3,300 mark. For the service workers, entry-level professionals, and essential staff who keep the local economy humming, these prices are entirely exclusionary.

The 80 units at Atlantic Blvd—comprising one-, two-, and three-bedroom layouts—are strictly reserved for individuals and families earning up to 60% of the Area Median Income (AMI). Crucially, the development contains no market-rate, commercial, or retail components, nor was it mandated by inclusionary zoning requirements. It is a pure play in attainable housing.

Providing housing at 60% AMI is not merely a social good; it is a macroeconomic imperative for regional stability. Municipalities competing for corporate investment and sustainable growth in a fierce global environment must ensure their labor force has a place to live. When essential workers are priced out, local supply chains fracture, commute times skyrocket, and businesses struggle to retain talent. By delivering 80 units at significantly below-market rates, this joint venture provides a vital pressure release valve for Sterling’s squeezed middle- and lower-income earners.

A Replicable Blueprint for the Mid-Atlantic

The $31.4 million development was not financed in a vacuum. It required a highly calibrated capital stack, underscoring the necessity of robust public-private partnerships in the modern real estate landscape. Funding flowed from 4% Low Income Housing Tax Credits (LIHTC) and $15.4 million in tax-exempt bonds from Virginia Housing, an equity investment by Cinnaire, and a critical $6.3 million soft loan from Loudoun County DHCD’s Attainable Housing Loan Program.

Chase Powell, Co-Developer and a Co-Owner of the property, complimented all those who participated in this impressive public-private partnership. "In real estate development we are only as good as our teams, and I commend Loudoun County, our design and construction teams, and our financiers for their partnership in this unprecedented achievement," said Powell.

The success of this financial and regulatory model is already sending ripples through local policy circles. Following the rapid delivery of Atlantic Blvd, Loudoun County has moved to establish a formal pilot program designed to expedite the review of future developments proposing 100% attainable housing.

This formalization indicates that the "Expedited Review" was not a one-off favor for a well-connected developer, but the foundation of a systemic policy shift. As other high-cost jurisdictions across the Washington, D.C. metro region and the broader Mid-Atlantic grapple with their own housing crises, the Atlantic Blvd Apartments serve as a compelling, actionable blueprint. It demonstrates that with the right combination of underutilized land, strategic public financing, and the willingness to slash bureaucratic red tape, the attainable housing deficit is a solvable equation.