Wellesley Commons Apartments
VCDC is pleased to welcome Wellesley Commons Apartments to our portfolio.
Wellesley Commons Apartments is an affordable apartment community in Newport News, VA, with 40 high-quality homes dedicated to seniors. Upon closing in March 2023, the apartment complex will undergo extensive renovations to improve facilities and systems that emphasize resident comfort and energy efficiency. With these new renovations, Wellesley Commons Apartments will better serve low-income individuals in the Hampton Roads area with high-quality homes and an all-embracing community where senior citizens can happily age in place.
After receiving new tax credit allocations in 2021 for rehabilitation purposes, Wellesley Commons residents will be able to enjoy all new flooring, kitchen appliances, cabinets and countertops, bathroom fixtures, hot water heaters, and other system improvements to the apartment building and individual homes. Other renovations include updating exterior siding and paint, and repairing sidewalks, parking lots and roofing The developer of Wellesley Commons Apartments, Community Housing Partners, also offers residents Active Resident Services Programs including health screenings, eviction prevention, case management, social activities, gardening, nutrition education, and more. The complex additionally offers onsite parking, a laundry facility on each floor, and a community room for activities and events. Wellesley Commons is located on the corner of Warwick Blvd and Wellesley Drive in Newport News, which is conveniently located near a variety of shopping, dining, and entertainment offerings.
Wellesley Commons Apartments reserves all 40 one-bedroom apartments for seniors making at or below 50% of the Area Median Income (AMI). Five of the apartment homes will specifically offer rents affordable to individuals making 40% of the AMI. Along with additional rental assistance from HUD for all apartment units, Wellesley Commons ensures that no resident will pay more than 30% of their household incomes toward rent and utility costs.
VCDC has invested a total of $2,189,098 in LIHTC Equity through our VCDC Equity Fund 26 towards the Wellesley Commons Apartments renovations. We worked with developer and long-term partner Community Housing Partners Corporation (CHP) on the rehabilitation of Wellesley Commons Apartments. CHP is a nonprofit based in Christiansburg, VA, and has developed over 2,000 single family homes and 5,000 multi-family affordable homes designed for low-income families, elderly, and individuals with disabilities across four states. They have successfully owned and operated Wellesley Commons for 25 years. Throughout our years of partnership, VCDC has collaborated with CHP on over 45 affordable housing properties. Renovations at Wellesley Commons are projected to complete by February 2024.
Building Exterior
One-Bedroom Living Room
Community Room