Fairfax Hall: A historic renovation for affordable senior homes
Originally constructed in 1890 as a bustling hotel, the Fairfax Hall building in Waynesboro, VA has seen many transformations and held many different faces. The structure operated until the early 1900's as the Brandon Hotel and was later used as a music institute, Brandon Hall, until it eventually converted into a junior college for girls. Today, thanks to the support and assistance from the city of Waynesboro, local public entities, and VCDC, Fairfax Hall has been transformed and updated into 54 high-quality affordable homes for senior citizens.
In April 2024, VCDC closed on the re-syndication of Low-Income Housing Tax Credits at Fairfax Hall to rehabilitate the existing building with an emphasis on energy improvements and accessibility. All 54 apartments are being refreshed to meet the changing needs of Fairfax Hall residents, without increasing rents, which will involve upgrades to all main systems including the roof, elevators, HVAC system, hot water, and all apartment fixtures. Nine apartments will become fully accessible for individuals with physical disabilities. All renovations are being done with the intent to enhance energy efficiency throughout the apartment building, resulting in lower operating costs and more resources to sustain the building into the future. Not only will this rehabilitation create better affordable homes for seniors, but it will also bring short-term jobs to local community members created in connection with construction.
In addition, Fairfax Hall has a room that once served as the grand ballroom of the original hotel which will now be used by residents for meetings, events, and activities. A porch outside the room will be converted to a "business center" giving residents an opportunity for work/space and internet connectivity. Residents at Fairfax Hall are within half a mile from several recreational parks and within two miles of a Community Center, groceries, dining & shopping, pharmacies, and a YMCA.
Location:
Waynesboro, WV
Developer:
South River Development Corporation
Total Homes:
54
Community Served:
Senior Citizens
VCDC Equity Invested:
$8,087,679
Fairfax Hall is both a historic icon in the City of Waynesboro, representing its grand history as a late Victorian, Queen Anne-style resort hotel for travelers on the Shenandoah branch of the Railroads, and now an important element of affordable housing in Waynesboro. The building was repurposed as a women’s college in the 1920’s, with academic and recreational facilities spanning 60 acres. In more recent years, the building served as a training facility until it was redeveloped into affordable housing. The property is listed on the National Register of Historic Places.
VCDC invested $8,087,679 in LIHTC equity for the rehabilitation of Fairfax Hall through the VCDC Equity Funds 26 & 27. In addition, our lending affiliate, VCDF, provided a $300,000 predevelopment loan to the rehabilitation project that was essential to moving the project into financial closing. The developer of Fairfax Hall is South River Development Corporation (SRDC), an affiliate of the Waynesboro Redevelopment and Housing Authority. SRDC has been involved with this project for over 20 years after purchasing the historic building in 1999 with the intent to redevelop it into affordable housing units for seniors. In 2002, their vision became a reality when VCDC partnered with SRDC to invest $4.7 million into Fairfax Hall through Historic Tax Credits and Low-Income Housing Tax Credits. VCDC has partnered with SRDC on several additional properties including Mountain Crest which offers 28 senior apartments in Warm Springs, and Mountain View with 129 family apartments in Waynesboro.
