NEWPORT NEWS, VIRGINIA – Establishing its presence in the Mid-Atlantic market, Dakota Partners has closed on its first development project in Virginia. Located on a 4.9-acre site in Newport News, Virginia, Huntington Village will fill a void of new and desirable affordable housing for the area.
Huntington Village will offer high-quality affordable opportunities for family households earning up to 50% and 60% of Area Median Household Income (AMHI). The project is being developed using Low-Income Housing Tax Credit (LIHTC) financing awarded by the Virginia Housing Development Authority (VHDA) and in collaboration with Dakota’s equity partner Wells Fargo Bank and the Newport News Redevelopment and Housing Authority. In addition, Dakota is partnering with Commonwealth Catholic Charities to provide referrals and services to residents of the community. Lawson Companies will be the property manager upon completion of construction.
The garden-style community features four, three story walk-up residential buildings and is comprised of 96 units with 72 two-bedroom and 24 three-bedroom apartments. The development will also have a community building and shared spaces including a meeting and lounge area, fitness center, on-site laundry facilities and a playground for children.
”Huntington Village is an important project for Dakota Partners as it represents our foray into Virginia and the Mid-Atlantic market,” said Dakota Principal, Marc Daigle. “As our portfolio and geographic coverage grows, we remain grounded in our mission to create housing that matters for an underserved population.”
A real estate developer and construction manager, 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 local organizations and public officials ensure the success of these projects for all stakeholders in the community.