July 31, 2014

Tax Credits Fund New Life for Old Hotel

The National Affordable Housing Management Association recently recognized the former Hotel Warwick in Newport News as one of the nation's best affordable housing communities.

Built in 1928, the historic hotel had been vacant for years when it was acquired in 1995 by Community Housing Partners and converted into 88 single-room occupancy (SRO) affordable, permanent, supportive apartments for previously homeless individuals.

Financed in part by Low-Income Housing Tax Credits awarded by VHDA, the 2013 rehabilitation of the Warwick SRO included a new roof, updated plumbing, new windows, HVAC upgrades and other energy-efficiency improvements resulting in EarthCraft Virginia certification and a 50 percent increase in energy efficiency. The extensive renovation also included improved spaces for property management and resident services, a rehabilitated community room and new community kitchen.

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