BHC Breaks Ground on Affordable VA Community
- May 17, 2017
The Better Housing Coalition broke ground on its $9.2 million development in the Union Hill neighborhood of East Richmond, Va. The BHC began its process of converting the former Citadel of Hope, a Colonial property built in 1923, into affordable apartments for working families.
The renovated historic school building, which will also include five new buildings, will house 52 units and be called The Goodwyn at Union Hill. Monthly rents will range from $550 to $900 for the offered one,- two- and three-bedroom units. Resident income will be restricted to 50 to 60 percent AMI, with 10 percent of the units reserved for project-based voucher holders. The community will be Earthcraft Gold certified for energy efficiency and sustainability, as well as feature ENERGY STAR and WaterSense appliances and fixtures. Residents will have access to a rooftop patio and garden, and a community room. Construction of the community is set for completion in late 2018, with leasing application starting in mid-2018.
“As the popularity of the Church Hill area has surged in recent years, apartment rents and home prices have risen out of reach for many neighbors,” said Greta Harris, president & CEO of the Better Housing Coalition. “BHC is committed to carving out a space for both long-time and new residents of modest means, who, like so many others, are attracted to the neighborhood’s amenities and wish to live here.”
The community is named in honor of Hilton W. and Hallie J. Goodwyn, in which a $5 million endowment fund was created in 2015 to benefit BHC’s affordable housing initiative. Financing is provided by the Virginia Housing Development Authority and Virginia Community Development Corp. Walter Parks Architects designed the building, J.D. Lewis Constructions Management Inc. is the contractor and Timmons Group is serving as the engineer.
“The Better Housing Coalition is so honored to be working with the community to transform a current liability into a future asset once again,” Harris told Multi-Housing News. “This development is a wonderful story of collaboration among 50 private and public funding supporters, our traditional debt and equity partners and the amazing capstone investment by Hilton and Erline Goodwyn that will allow us to bring new hope to more communities around our region.”
Rendering courtesy of Rendersphere LLC