Multiple

• Petersburg Artist Space Lofts, is a historic, adaptive re-use of a former Brown and Williamson tobacco manufacturing facility in downtown Petersburg, VA. Artist Space Lofts contains 226 units, with 100% of the units being Affordable Housing under Low-Income Housing Tax Credit (LIHTC) and tax-exempt bond use agreements, restricting the units to persons earning a range of 40% of the area median income (AMI) to 80% AMI. The Property is early in its initial compliance cycle, with this potential transaction intending to transfer only the controlling interest in the partnership owning the Property.
• Phase I and Phase II of Port City Apartments share a contiguous site – formerly a tobacco stemming, drying, and holding facility – in the southeastern portion of the Manchester neighborhood in Richmond, VA. Port City I contains 135 units, with 100% of the units being Affordable Housing under Low-Income Housing Tax Credit (LIHTC) and tax-exempt bond use agreements, restricting the units to persons earning a range of 30% of the area median income (AMI) to 80% AMI. Similarly, 100% of Port City II’s 147 units are deed restricted as Affordable, LIHTC and tax-exempt bond housing, covering the 40% AMI – 80% AMI range. Both phases are early in their initial compliance cycle, with this potential transaction intending to transfer only the controlling interest in each respective partnership owning the properties.

Property Description