On December 2021, Jair Lynch Real Estate Partners bought the Barcroft Apartments for 310 Million dollars . The new owner received two loans below interest market rate,150 millions dollars came from Arlington county public funds and 160 millions from Amazon’s Housing Equity Fund. As part of the contrat with Arlington county, Jair Lynch Real Estate can raise rents 3% per year. The Community at Barcroft makes below Arlington’s 60% area Median Income (AMI). The current rent is already high for this community which means this 3% rent increase every year would displace the Barcroft community. Arlington County gave this loan of 150 millions so that the Barcroft community won’t be displaced but if nothing is done these communities will be displaced. We need Arlington board members to take action and stop this 3% increase. Arlington board members have said Jair Lynch Real Estate will work with these community but this are developers and investors, which are guided by profits. Arlington County board members need to be held accountable as county official leaders. Also Amazon’s equity Fund is part of the problem, not a situation as it has been framed. It's one of the root causes of gentrification in this county. Take action by joining us this Wednesday at Barcroft at 6pm to show your support for the Barcroft tenant group who will be delivering their demands to Jair Lynch real estates to remain in their community.
Main Archway at Barcroft Apartments
4219 12th RD South, Arlington, VA 22204
at 6pm
