Found some info on this
http://washington.bizjournals.com/washington/stories/2008/12/08/story10.html?b=1228712400%5E1743274:
The builder is Dallas-based JPI Development Services. The county gave them the land (or I should say "leased") for 99 years for $1.00. In exchange, they will build the 4 story complex costing approximately $47 million. There will be:
*39 studio apartments
*123 one-bedroom apartments
*93 two-bedroom apartments
*15 three-bedroom apartments
All reserved for people (singles, families, couples) making at or below the county's median income ($30,000 for one person to $98,000 for a family of four).
Construction is to start in the summer of 2010. First person moves in 2011. Construction completed 2012.
"Tenants will be re-certified every year, and if they make too much money to qualify, they will be
asked to move, Payne said."
I like the "asked" part. The county has been notoriously bad about making people leave once they make more than the maximum.
Here's my completely unsubstantiated fact-free prediction:
The land will be clear cut (one of the last remaining green spaces in fairfax/fair oaks) then construction will start. Then JPI will decide due to the "economic crisis", they will have to pull out (or at least get paid a lot of money to continue). The County will be left to foot the cost of finishing the construction and/or demolishing the structures that were built.
Think that can't happen? That's what these people thought too:
http://www.abc-7.com/articles/readnews.asp?articleid=9200&z=2
That was in 2006. Still nothing has happened on that.