Townhomes at Liberty Place
VCDC is pleased to welcome Townhomes at Liberty Place to our portfolio.
March 2024 – Townhomes at Liberty Place is a new affordable apartment community in the City of Richmond, VA, that creates 40 townhomes for low-income families and households. The multifamily development features 34 three-bedroom units and six one-bedroom units across 10 buildings on a six-acre site. All units at Townhomes at Liberty Place are designed for households making 40%, 50%, and 60% of the Area Median Income, addressing the need for more affordable homes accessible to nearby services in the City of Richmond.
The site for Liberty Place, on East Belt Boulevard, is close to mixed-use commercial and residential areas. The Hickory Hill Community Center, which offers indoor and outdoor recreational activities for community members, is only 0.3 miles from Liberty Place. Residents at Liberty Place will also be able to enjoy nearby shopping centers including grocery stores, department stores, and restaurants. Notably, Southside Community Development and Housing Corporation (SCDHC) will provide supportive housing services to residents including case management with additional services for veterans referred from the nearby Richmond VA Medical Center. The rental services provided to Liberty Place residents by SCDHC are being offered at no additional cost to the project.
All apartment units at Townhomes at Liberty Place are designed to meet accessibility requirements and green building criteria including EPA EnergyStar and EarthCraft Gold which will ensure environmentally friendly systems that also promote lower utility costs for residents. The homes at Liberty Place are intentionally constructed in townhome styles to reflect the look of classic Richmond neighborhoods, included with modern updates featuring patios, porches, and spacious rooms with large windows.
VCDC provided $8,262,174 in LIHTC equity to Townhomes at Liberty Place through the VCDC Equity Fund 27, LLC. Townhomes at Liberty Place is being developed by Canterbury Enterprises, a minority owned developer based in Richmond, VA. Canterbury completed its first LIHTC development in 2015 with the development of the 40-unit Townhomes at Warwick Place I and followed with the development of the 30-unit Townhomes at Warwick Place II in 2021. Both projects received investment from VCDC equity funds and continue to operate with 100% occupancy. The principal of Canterbury, Gerald “Junior” Burr, has additional experience as a minority partner in the LIHTC development of Whittaker Place, another project with investment from VCDC’s equity funds, which converted a historic hospital designed by Black owners in the Jim Crow era into affordable housing for low-income families. Burr has over 23 years of experience in Project Management, with 15 years as President of Canterbury Enterprises.