August 2 groundbreaking at Freedman Point in Hopewell
celebrates future high-quality mixed-use affordable housing option
Hopewell VA, August 3, 2018: Yesterday community leaders, City officials, housing agency officials, and other supporters joined developer Woda Cooper Companies, Inc. to celebrate the official Groundbreaking at Freedman Point where 68 affordable family rental homes and commercial space will be built near the Appomattox Regional Library at 315 East Cawson Street, Hopewell. Construction is now underway on the $11 million facility set to be completed Summer 2019.
Mix of affordable housing and commercial space
Freedman Point will offer 12 one BR, 36 two BR, and 20 three BR apartment homes in a four-story building with an elevator and onsite parking. There will also be a community room, outdoor gathering space, and play area. Each unit will have an attractive open design with modern finishes; large closets; Energy Star appliances, including a dishwasher; individually controlled heating/air conditioning; and energy efficient windows. The many energy saving features will contribute to low utility bills.
“Freedman Point will be built to very high energy efficient standards to comply Viridiant’s EarthCraft Gold Certification,” said Bruce Watts, Vice President-Development for Woda Cooper Companies, Inc, and the leader of the development. Many Energy Star appliances will be incorporated, as well, which will contribute to low monthly utility rates, said Watts.
Catalyst for development
The location of Freedman Point is adjacent to the Appomattox Regional Library and within walking distance to many downtown retail stores, banks, restaurants, churches and health care services. In addition, there is a commercial space on the ground floor of Freedman Point for retail or office use.
“The opportunities for development at and near Freedman Point are exciting and we believe the 68 affordable, high quality homes for working families will help spur revitalization and economic development in the neighborhood,” Watts said. “We appreciate the City of Hopewell’s support in providing an incentive grant as one of the primary outreach initiatives of the New Downtown Revitalization Plan.”
The developer used the Groundbreaking Celebration as an opportunity to thank the many supporters including the City of Hopewell; Virginia Housing Development Authority (VHDA), the agency that provided housing tax credits allocated to the development; equity investor and lender Bank of America; JLL who also contributed to loan; and the Hopewell Redevelopment and Housing Authority (HRHA).
Mr. Watts hosted and emceed the event. Other speakers:
Woda Cooper Companies, Inc. and its affiliates are experienced developers, general contractors, and property managers specializing in the design, construction, and management of affordable multi-family apartments, senior communities, and single-family homes. Considered leading experts in the affordable housing industry, the Woda Cooper team is known for producing and maintaining high quality affordable housing. Affordable Housing Finance ranked the firm 6th overall among Developers and 29nth overall among Owners in its April/May 2018 issue. Woda Cooper Companies, Inc. has developed and currently manages more than 300 communities and 12,000 units, operating in 15 states. In addition to its Georgia office in Savannah, the firm’s headquarters are in Columbus, Ohio. Other offices are operated in Annapolis, Maryland; Shelbyville, Kentucky; Norfolk, Virginia; Indianapolis, Indiana; and Mackinaw City, Michigan. The firm has approximately 600 employees.
For more information, call (614) 396-3200 or visit www.wodagroup.com.