Hunt, TCG Tapped for Portsmouth Affordable Housing Project

The Portsmouth Redevelopment and Housing Authority has selected the Hunt Companies, Inc. and TCG Development Advisors, LLC for the redevelopment of the low-income housing neighborhood of Lincoln Park, in the City of Portsmouth, Virginia.

The Portsmouth Redevelopment and Housing Authority has selected Hunt Companies Inc. and TCG Development Advisors L.L.C., to redevelop the city’s Lincoln Park neighborhood.

Hunt, an El Paso-based developer, investor and manager, and TCG, the affordable housing consulting and development affiliate of The Communities Group, will redevelop about 200 affordable housing units. Many of those units, if not all, will be subsidized.

Working closely with Portsmouth officials, the team will employ LEED and Universal Design principles to maximize sustainability and create a safe and vibrant community, with many green parks and space for retail.

“Hunt is a strong advocate of the public-private partnership model, and with a continued ownership stake and overall management responsibility of this project, we and our partners will work to ensure a successful outcome for the Portsmouth community,” said Bill Little, senior vice president of Hunt’s public-private partnership development division. This year, Hunt has been selected for affordable housing projects by city agencies in Savannah, Ga., and El Paso, Texas.

“With (Hunt’s and TCG’s) experience and knowledge of HUD and other funding programs, we believe that the Lincoln Park revitalization will be well-planned and occur in a timely manner,” said Harry L. Short, executive director of the Portsmouth housing agency.

Photo credits: Google Maps.