EquityPlus and development partner MH Advisors are breathing new life into the Delectable Heights neighborhood of Petersburg, VA, with the purchase and redevelopment of 47 vacant lots near the historic Virginia Avenue School. Lots were purchased from the city to spark revitalization and stem the tide of increasing numbers of vacant properties and homes in the neighborhood. Ultimately, a total of 47 new single-family homes will be rented to tenants earning 60% or less of the area median income and will be made available for purchase by the then current tenant at year 15. Construction start is expected in the winter 2024. Completion is expected spring 2025.
Low Income Housing Tax Credits, Real Estate Development Services