Armstrong Place, Rush Homes
I got to spend the morning with Rush Homes at their Armstrong Place property here in Lynchburg. This project is such a great example of historic, adaptive reuse to create housing that is both affordable and accessible. In 2014, they transformed the former Armstrong Elementary School on Monsview Place into 18 one-bedroom units and 10 two-bedroom units for people with disabilities and low incomes.
I was really impressed with the quality of the project and units during my tour. Their website lists the following features:
“-Full accessibility for people with mobility impairments
-Affordable rents for people with low incomes
-EarthCraft® certification resulting in lower utility bills
-A design that is in context with both the neighborhood and the historic character of the school, a former equalization school of the civil rights era
-A school gym, rehabilitated in partnership with the City of Lynchburg that will provide community activities
-Convenient location on the GLTC bus line, within 1/2 mile of local amenities and within 2 miles of health care and social services facilities
-Unique floor plans for apartments with high ceilings and large windows
-All major appliances, including washers and dryers
-Armstrong Place is important for affordable, accessible housing, historic preservation, and community development.”
Rush also lists details on Project Funding and their Partners. This is a great resource if you are really trying to understand how the deal was put together.
“Project Funding:
Low-Income Housing Tax Credits administered through the Virginia Housing Development Authority
HOME block grant funds from both the Virginia Department of Housing and Community Development and the City of Lynchburg, Virginia
Historic Tax Credits
Virginia Housing Development Authority affordable housing loan
Morgan Foundation
Easley Charitable Trust
Partners:
Tax Credit Syndicator: Virginia Community Development Corporation
Architect: Community Design Studio
Engineer: Warner-White
General Contractor: Community Housing Partners Corporation
Construction Manager: A. S. Maddox
City of Lynchburg”
Just from this list alone, you can see that it took multiple partners and coordination of several moving parts to put this deal together. LIHTC tax credits. Historic tax credits. VHDA loan. HOME Block Grants. Trusts and foundations. A tax credit syndicator. Contractors, engineers, architects.
New Questions:
Is Armstrong Place a model to study, learn from, and follow for future affordable housing development?
If we’re going to follow this blueprint for future adaptive, reuse development, how did Rush put this deal together down to the smallest details?
Is Armstrong Place sustainable going forward? i.e. Does the project bring in enough money to cover expenses and debt service so that it does not need ongoing fundraising?
What about Rush Homes other projects that include existing single family homes and new construction? How are those deals put together and how do they differ from this project?
If you don’t know about Rush Homes, I encourage you to go meet their team, learn about their work, and find out how you can be involved in meeting such a great need in our community