New Orleans – multifamily development. In post Katrina New Orleans, numerous affordable multifamily properties required rehabilitation or demolition and new construction. HDA was involved in the redevelopment of the Lafitte public housing community in the Treme neighborhood. The strategy involved a combination of preservation and new construction. The plan called for a mix of housing types and tenures. Several innovative approaches were tested, including the use of “Katrina cottages” as part of an infill housing strategy.
Floyd Virginia – downtown development. Provided advisory services to community based private development group interested in the revitalization of the downtown district. The focus of the work was on the financial structuring of two development projects being undertaken in conjunction with a CDBG funded downtown project. The first was the commercial redevelopment of a long vacant grocery store into shops and offices. The tenants were selected to complement the downtown’s revitalization branding that focused on traditional music, regional arts and crafts, entertainment and recreation. The second project was a mixed use / mixed income development that became one of the first projects to be financed using VHDA’s new mixed use / mixed income program that was targeted to revitalization of downtowns in small communities.
Pyramid Health Center – HDA served as primary financial consultant for this historic restoration of a building for re-use as a PACE center and a pediatric clinic for a local community health center. The sponsor / owner was the Lynchburg Neighborhood Development Corporation, a locally based non-profit development company. The building financing was complex and included six sources of funding including New Market and Historic Tax Credits, LISC, Virginia Community Capital, and IDA financing, CDBG and Enterprise Zone grants. The building is the first phase of the revitalization of the Fifth St. corridor, Lynchburg’s historic African-American commercial district.
New Road Village – Rural Rental Housing. HDA provided consulting services to the New Road Village Community Development Group in Exmore, on Virginia’s Eastern Shore for the purpose of developing a 515 rural rental housing community. New Road CDG is a community based organization that successfully launched a 10 year campaign in the 1990s to bring water, sewer and decent housing their community. Working with New Road, HDA was able to successfully complete the development of a long stalled, new construction 515 development and to negotiate the sale of land for a scattered site LITC project that allowed New Road to retire a Mercy Loan Fund obligation that was due. New Road is now debt free with the final phase of its housing development program completed.