Dakota Partners Awarded Financing for Brady Square, Phase 1
RICHMOND, VIRGINIA – Dakota Partners has been awarded funding from the Virginia Housing Trust Fund to help finance the construction of Brady Square, Phase 1 – the first of a multi-phase development project that will ultimately deliver 264 units of new affordable housing to Richmond, Virginia.
Phase 1 will include the construction of 66 units and a community building, and is anticipated to start later this year. Brady Square will comprise one, two, and three-bedroom garden and townhome-style apartment units within two-story residential buildings. On Monday July 6, Virginia Governor Ralph Northam announced that Dakota was among several firms that were recipients of part of the $10.3 million investment in Affordable and Special Needs Housing (ASNH) loans.
“Quality affordable housing is essential to creating vibrant communities and ensuring that every Virginia family has the opportunity to thrive,” said Governor Northam. “That’s why I committed to doubling the Virginia Housing Trust Fund this past General Assembly session and will continue to prioritize efforts to transform our housing stock. This increased funding is even more critical as we work to address homelessness, reduce evictions, and help Virginians facing economic challenges due to the COVID-19 pandemic.”
A real estate developer and contractor, Dakota Partners acquires and develops multi-family rental and condo communities across New England and the mid-Atlantic, a significant percentage of which are garden-style affordable housing developments. At the core of every project is Dakota’s mission to improve the lives of the people who live in our communities. By integrating high-level design, green building technologies, and quality craftsmanship, Dakota provides warm and inviting homes that enrich both the community and its residents. Strategic partnerships with neighborhood groups and public officials ensure the success of these projects for all stakeholders in the community.