{"id":9071,"date":"2019-07-08T20:51:22","date_gmt":"2019-07-08T20:51:22","guid":{"rendered":"https:\/\/lawsoncompanies.com\/?post_type=news&#038;p=9071"},"modified":"2025-02-17T14:05:40","modified_gmt":"2025-02-17T19:05:40","slug":"tidewater-tax-credit-program","status":"publish","type":"news","link":"https:\/\/lawsoncompanies.com\/news\/tidewater-tax-credit-program\/","title":{"rendered":"VHDA Board of Commissioners ratifies final rankings for 2019 low income housing tax credit program, placing Lawson\u2019s first in the Tidewater MSA pool of 9% tax credit allocation rankings."},"content":{"rendered":"\n<div class=\"wp-block-image\"><figure class=\"alignright is-resized\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/lawsoncompanies.com\/wp-content\/uploads\/2019\/10\/Market-Heights_Rendering-Facing-South_1.07.19-3-1024x578.jpg\" alt=\"\" class=\"wp-image-9072 lazyload\" width=\"625\" height=\"353\"\/><noscript><img decoding=\"async\" src=\"https:\/\/lawsoncompanies.com\/wp-content\/uploads\/2019\/10\/Market-Heights_Rendering-Facing-South_1.07.19-3-1024x578.jpg\" alt=\"\" class=\"wp-image-9072 lazyload\" width=\"625\" height=\"353\" srcset=\"https:\/\/lawsoncompanies.com\/wp-content\/uploads\/2019\/10\/Market-Heights_Rendering-Facing-South_1.07.19-3-1024x578.jpg 1024w, https:\/\/lawsoncompanies.com\/wp-content\/uploads\/2019\/10\/Market-Heights_Rendering-Facing-South_1.07.19-3-300x169.jpg 300w, https:\/\/lawsoncompanies.com\/wp-content\/uploads\/2019\/10\/Market-Heights_Rendering-Facing-South_1.07.19-3-768x434.jpg 768w\" sizes=\"(max-width: 625px) 100vw, 625px\" \/><\/noscript><\/figure><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">VIRGINIA BEACH, VA \u2013 July 8, 2019 \u2013 Market Heights, the latest apartment development from Lawson, placed first out of eight applications in the Tidewater geographic pool as VHDA awarded reservations of tax credits in Virginia\u2019s highly competitive housing tax credit program. This 80 unit mixed-income community located at 330 Tidewater Drive in Norfolk, was thoughtfully designed to serve renters from a wide range of income levels and will be indistinguishable from comparable market rate communities.\u00a0 Market Heights also includes a separate 84-unit 4% tax credit community that is being built simultaneously for a combined total of 164 units of new construction to provide essential housing during the redevelopment of the St. Paul\u2019s area, as well as housing for those with developmental disabilities.\u00a0 <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAt Lawson, we strive to positively\nimpact the communities we serve and Market Heights is a fine example of this,\u201d\nsaid Steve Lawson, Chairman of Lawson. \u201cWe have been working with Hope House on the design of\nthis community to ensure residents with physical and developmental disabilities\nhave a safe, comfortable place to live.\u201d&nbsp;\nMarket Heights meets the highest levels of accessibility, with 80 units\nmeeting universal design requirements and 17 units meeting ADA requirements.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The\ntwo developments have a unique financing structure where Market Heights\nutilizes 9% tax credits, the adjacent development utilizes 4% tax credits, and both\ndevelopments are in a location where equity qualifies for opportunity zone funding.\nLawson continued, \u201cthis is the first location we are aware of to use all three\nof these development mechanisms and we look forward to developing both\naffordable communities within the newly minted opportunity zone.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In\naddition to offering a playground, tot-lot, urban park, dog\npark, fitness center and non-profit community room, Market Heights will include dedicated\nspace for Hope House, Lawson\u2019s supportive service provider-partner. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAt\nHope House, we provide support to 125 individuals with developmental\ndisabilities, over 70 of which are in Norfolk alone. They are in desperate need\nof accessibility that\u2019s just not found in the existing inclusive, walkable,\naffordable neighborhoods here in Norfolk.&nbsp;\nWe\u2019ve had the pleasure of working with Lawson for years to provide\nsupport to individuals in safe, affordable, and accessible housing and look\nforward to this new community in Norfolk,\u201d Susan Henderson, Service\n&amp; Admissions Director at Hope House Foundation.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Market Heights community was developed with an eye towards the Downtown Norfolk 2030 plan and St. Paul\u2019s redevelopment. It has been designed to be an eco-friendly community, meeting Norfolk\u2019s new resiliency requirements through the EarthCraft Multifamily green building program. The design received unanimous support from Norfolk\u2019s Architectural Review Board, Planning Commission, and City Council.&nbsp; Design partners include: WPA, Ray Gindroz, TS3 Architects and Timmons Group.<\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">About Lawson&nbsp;<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">At Lawson, we understand that what we do \u2013 and how we do it \u2013 affects the everyday lives of people we care about. Since 1972, we\u2019ve focused on positively impacting the communities we serve, from team members and residents to investors and business partners. We manage and own approximately 5,500 apartments in Virginia and South Carolina and are continuing to grow by developing more apartment communities each year throughout&nbsp;Virginia. Our business model provides vertical integration of development, construction, property management and asset management, which enables our team of experts to add value at every stage for our partners. When you act with integrity, focus on quality and work to find creative solutions, great things are possible. It\u2019s how we\u2019ve done business at Lawson for over 45 years. For more information, visit&nbsp;<a href=\"https:\/\/www.lawsoncompanies.com\">www.lawsoncompanies.com<\/a>.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">About Hope\nHouse Foundation<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Since 1964,\nHope House Foundation has worked on the frontlines of the battle for\nindependence, community inclusion and true citizenship for people with\ndevelopmental disabilities. The organization provides services for adults\nexclusively in their own homes or apartments. Currently, Hope House Foundations\nserves more than 125 people in Norfolk, Chesapeake and Virginia Beach. Hope\nHouse is known as an innovator and leader in the field, and in 2008, it\nreceived the American Association for Intellectual and Developmental\nDisabilities national award for full community inclusion. In 2012, it was named\nANCOR Foundation\u2019s Service Provider of the Year. For more information, visit <a href=\"http:\/\/www.hope-house.org\">www.hope-house.org<\/a>. <\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_lmt_disableupdate":"no","_lmt_disable":""},"news-topic":[236],"class_list":["post-9071","news","type-news","status-publish","hentry","news-topic-development"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>VHDA Board of Commissioners ratifies final rankings for 2019 low income housing tax credit program, placing Lawson\u2019s first in the Tidewater MSA pool of 9% tax credit allocation rankings. - Lawson Companies<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lawsoncompanies.com\/news\/tidewater-tax-credit-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VHDA Board of Commissioners ratifies final rankings for 2019 low income housing tax credit program, placing Lawson\u2019s first in the Tidewater MSA pool of 9% tax credit allocation rankings. - Lawson Companies\" \/>\n<meta property=\"og:description\" content=\"VIRGINIA BEACH, VA \u2013 July 8, 2019 \u2013 Market Heights, the latest apartment development from Lawson, placed first out of eight applications in the Tidewater geographic pool as VHDA awarded reservations of tax credits in Virginia\u2019s highly competitive housing tax credit program. 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