PROGRAM: Mixed-income, HOPE VI redevelopment of former public housing site with 100 market-rate townhomes and 52 public housing rental units CAPITAL COST: $62 Million CONSTRUCTED: 2004 - 2005 CHATHAM SQUARE LOCATION: Alexandria, Virginia DEVELOPER: EYA SUMMARY Chatham Square is among the most successful HOPE VI redevelopment projects in the country. Located in the heart of historic Old Town Alexandria, the community includes 100 fee simple, market-rate townhomes, which sold for prices averaging over $850,000, integrated with 52 low-income rental units owned and operated by the Alexandria Redevelopment and Housing Authority. Because the public housing was integrated throughout the site, in some cases sharing underground parking structures and common party walls, assurances were required that both the market rate and public housing units would be completed together, along with appropriate cost sharing arrangements. EYA acted as general contractor for the public housing units as well as being the developer of the market rate housing. This project, which was a finalist for a prestigious ULI Award of Merit, proves that in the right location, mixed-income housing can be successful for both the market rate and the subsidized components.