July 28, 2015

VHDA Provides Financing for Quality Housing in Greater Richmond

Let’s take a tour of some of the VHDA financed developments providing quality housing in the Greater Richmond area.

The Locks is an adaptive reuse of historic warehouses situated directly on the Kanawha and Haxall Canals. The four historic buildings of The Locks were originally built along the canal system as warehouses for the tobacco industry. These urban apartments are centrally located in Richmond’s business district and are close to dining, shopping and entertainment venues. A loft apartment home at The Locks puts you in the middle of anywhere you want to be.

The Locks consists of four historic warehouses.

Belle Summit is a newly built affordable housing community located at 600 Cowardin Avenue. Belle Summit offers 1, 2, & 3 bedroom garden style apartments with rents ranging from $604 to $775. Conveniently located near the James River and Downtown Richmond, the property is just minutes from shopping, dining and entertainment. Belle Summit is within walking distance to whitewater rafting, biking, hiking, tubing and concert venues. Unit amenities include wall-to-wall carpet, ceiling fans, washer/dryer hookups, dishwashers and built-in microwaves.

Richmond’s first fully smoke-free apartment community, Link Apartments offers the perfect mix of convenience and functionality. Link Apartments was built in 2011 and offers 1 & 2 bedroom garden style apartments with rents starting at $1,000. Link contains large walk-in closets, large windows, full-size washers and dryers, tile bathroom floors and free Wi-Fi. Abundant community amenities make poolside grilling, resort-style lounging and first-rate fitness a way of life.

VHDA is proud to partner with developers to finance quality multifamily housing throughout Virginia. Belle Summit was financed with a Taxable loan and Housing Credits. The property serves residents with income levels at or below 50% of the Area Median Income. The Links and The Locks were financed with a combination of VHDA’s Mixed Use Mixed Income, REACH and Taxable loan products. For more information about VHDA’s Rental financing, visit our website or contact a member of the Rental Housing Development staff.
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