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Groundbreaking of Henry Williams Townhomes - affordable multi

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Groundbreaking of Henry Williams Townhomes - affordable multi Powered By Docstoc
					FOR IMMEDIATE RELEASE
Petersburg Community Development Corporation
Alexander C. Graham
200 South 10th Street, Suite 1600
P. O. Box 1320 (23218-1320)
Richmond, VA 23219
Direct Dial: (804) 420-6458
Fax: (804) 420-6507
sgraham@williamsmullen.com




              Groundbreaking of Henry Williams Townhomes
       The groundbreaking for a new affordable townhome-style apartment community, Henry
Williams Townhomes, will occur on June 9, 2011. This development will serve low and
moderate income families in the City of Petersburg, Virginia. The groundbreaking will take
place on June 9, 2011 between 10:00am and Noon at the site of the property which is located at
800 S. South Street, Petersburg, Virginia 23803 (corner of S. South Street and Lee Avenue).

       Henry Williams Townhomes, a Federally and State funded project, began pre-
development in the Spring of 2008. The project will consist of 42 townhouse style units with a
mix of 2 and 3 bedrooms; five units which are fully handicap accessible. Each unit is provided
with dish washers, washer/dryers, and patios. Additionally, the project will be certified by Earth
Craft, one of the Southeast’s most prominent institutes on standard for green building
(www.earthcraft.org). The Delta Community Service Foundation also intends to construct its
community building on a portion of the site.

        The project was awarded Tax-Credit financing in the amount of $8,684,130 in June of
2010 as well as received low-interest loans in excess of $1.2 million from the Department of
Housing and Community Development (DHCD) and the Virginia Housing Development
Authority (VHDA) in order to keep the project affordable for the residents of the City of
Petersburg. Additionally, the City of Petersburg has waived fees in excess of $250,000 to assist
in keeping this project’s rents manageable by low to moderate income families. The project
would have not been possible without the pre-development seed money provided by The
Cameron Foundation. The project site is one of the last undeveloped parcels in the Gillfield
revitalization area initially begun by the City of Petersburg in 1972.

       For further inquiries, please feel free to contact Alexander Graham with the information
provided above or Adam J. Stockmaster at T.M. Associates, Inc. at 301-365-9314 or by email at
ajs922@aol.com.

				
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