April Housing Investing More Than $25 Million in Community-Wide Renovations at Northern Virginia Affordable Housing Property
Company’s first preservation deal in Virginia extends affordability for an additional 50 years for nearly 250 families.
Prince William County, VA, July 13, 2026 – April Housing, Blackstone Real Estate’s affordable housing portfolio company, today announced that it has closed its first resyndication deal in the state of Virginia at an affordable housing family property, which will extend affordability for an additional 50 years on nearly 250 homes.
Through the resyndication process, a community-wide renovation plan totaling more than $25 million will upgrade residents’ homes, improve community amenities, and support the long-term preservation of affordability at the property. Some of the planned improvements include:
Unit and Building Upgrades
- New cabinets, flooring, and paint in homes
- Replacement of all windows with energy efficient specifications
- Upgrades to major building systems, including plumbing and electrical
- Exterior building painting
- Energy efficiency improvements, including LED lighting, HVAC upgrades, and Energy Star-rated appliances
Common Area and Community Enhancements
- Upgrades to the basketball court, playgrounds and the pool
- Upgrades to parking areas and ADA pathways
- Landscape and erosion control upgrades
“We’re excited for this big milestone of closing our first preservation in Virginia to keep this housing affordable for the families and individuals who call this community home,” said Perica Bell, head of preservation at April Housing. “We are proud to partner with Virginia Housing to make this possible, and it’s just the beginning of what we plan to do in the Commonwealth. When residents thrive, the entire community benefits. That’s the kind of lasting impact we’re working toward.”
Located in Northern Virginia, just 30 miles from Washington, D.C., this property was originally two communities, one built in 1997 and the other in 2001, that are now combined into one community. The combined community now includes 248 townhome and garden-style units, across 32 buildings, comprised of two- and three-bedrooms. All units are leased at 60 percent AMI.
Investing Over $25 Million in Community-Wide Renovations
April Housing is one of the largest owners and preservers of affordable housing in the U.S. Since 2024, the company has successfully completed the preservation of more than 3,650 affordable homes across the country. Through the preservation program, Blackstone Real Estate has invested more than $325 million for upgrades and improvements for residents at these properties. Comprehensive renovations are either completed or well underway, including accessibility and energy efficiency improvements that directly benefit residents.
