Claremont School Apartments brings affordable family homes to Pulaski, VA
VCDC is pleased to welcome Claremont School Apartments to our portfolio.
November 2024 — VCDC is excited to welcome Claremont School Apartments to our portfolio, a project that repurposes an old elementary school in Pulaski, VA into 50 affordable apartment homes designed for low-income families earning 30-60% of the Area Median Income. This innovative redevelopment supports Pulaski County's efforts to expand affordable housing options, meeting the needs of a growing population and the region's increasing economic opportunities.
The Claremont School, built in 1952 and listed on the National Register of Historic Places, served as an elementary school and community space for decades before being abandoned in 2003. For over 20 years, the building sat vacant—but now will be transformed into a modern living space for families that blends history with new development.
The revitalization effort includes renovated apartments within the original school building and 27 newly constructed homes in a three-story brick building. The first floor of the historic school will feature practical amenities for residents, including a community room with free Wi-Fi, a fitness center, laundry facilities, and an on-site management office. Outdoor spaces will include a picnic shelter with tables and grills, a playground, seating areas, and a community garden. This project not only restores the building but also creates a welcoming environment for new residents.
Claremont School is nearby multiple convenient businesses and services including local shopping, three affordable grocery stores, Pulaski Middle School and High School, a post office, town hall, a public library, a hospital, and the Pulaski historic downtown area. The Memorial Baptist Church, a quarter mile from the apartments, serves as a pickup point for the city’s public transportation. The Town of Pulaski has designated the surrounding area as a revitalization area with a goal to attract unique ‘destination’ retail, restaurants, and service businesses, emphasizing a commitment to “new and improved residential development to increase the stock of housing options.” The Claremont School redevelopment is a shining example of community transformation that brings new energy and life into this rural locality.
All of the apartment homes at Claremont School are designed to meet Virginia Housing’s Universal Design Standards, ensuring high-quality and comfortable living spaces for all residents. Upon completion, the community will meet design requirements outlined by Virginia Housing, be EPA EnergyStar certified, and meet the baseline energy performance for Earthcraft Gold certification, all of which will create energy efficient, cost efficient and clean homes.
VCDC has partnered with Landmark Asset Services to provide $7,916,798 in LIHTC Equity though the VCDC Equity Funds 25 & 26 for Claremont School Apartments. Landmark Asset Services, Inc. is a mission-focused developer of affordable housing. Landmark, based in Winston-Salem, North Carolina, is a for-profit organization, and will serve as developer, guarantor, and property manager for Claremont School Apartments. Landmark has developed 86 LIHTC projects in the southeastern Unites States, all with a focus towards providing quality, affordable housing for low-income individuals and families.