Sycamore Towers: Homes for seniors in Petersburg
VCDC is pleased to welcome Sycamore Towers Apartments to our portfolio.
May 2019 - Sycamore Towers Apartments is a renovated community designed for seniors in Petersburg, Virginia. The community includes 100 new homes serving low-income individuals and families aged 55 and above who make 60% or less of the Area Median Income. Ten apartments at Sycamore Towers have been redesigned to accommodate residents with disabilities. Renovations will modernize the 1970’s 10-story building with high-quality amenities and improved safety measures giving residents a new and improved place to call home.
Key renovations to the building include new elevators, flooring, cabinets, roofing, electrical services, plumbing, LED lighting, windows, heating and cooling systems, intrusion alarms, and appliances. Improvements have also been made to the existing fire system, while the first-floor community space and public restrooms have been upgraded.
Sycamore Towers is located just three blocks away from the central business district and historic downtown of Petersburg, making it a highly walkable community for residents looking for nearby services and employment. Owner and developer of Sycamore Towers, Petersburg Redevelopment and Housing Authority (PRHA), has administrative offices directly behind Sycamore Towers providing convenience for residence. Additionally, the community is within a quarter mile of a grocery store and within half a mile of a pharmacy.
VCDC invested a total of $3,119,547 through Housing Equity Fund of Virginia 23 toward the total renovation cost of $11,011,092. VCDC partnered with PRHA to assist in the development of Sycamore Towers. PRHA has been the primary affordable housing provider in Petersburg since they were founded in 1967. They own and manage over 548 affordable housing developments throughout the area and are dedicated to creating and maintaining housing opportunities to enhance the quality of life for Petersburg residents.