CPDC announced a $20.7 million investment Tuesday in the acquisition and renovation of Woodmere Trace. This acquisition aligns with CPDC’s strategic plan to expand into Hampton Roads, Richmond, and Baltimore.
Norfolk Native’s Company Announces $20 Million Investment For Workforce Housing, CityBizlist, 09/11/13
CPDC plans to renovate the Woodmere Trace apartment complex in Norfolk in which they have newly invested $20.7 million. Renovations planned for the 37 buildings include new kitchens, bathrooms, air conditioning and heating systems, etc.
Workforce housing planned for complex in Norfolk, PilotOnline, 09/11/13
CPDC’s acquisition of Woodmere Trace, a 300-unit workforce housing property in Norfolk, represents the DC nonprofit’s entrance into the Hampton Roads market. The deal is being financed through the Housing Partnership Equity Trust, or Equity Trust, a social-purpose REIT created to increase the stock and improve the quality of affordable and workforce housing. The community features with one and two bedroom apartments that will range in rent from $800 to $1,000.
CPDC Acquires Norfolk Apartment Communities for $20M, MHN Online, 09/10/13
CPDC Completes $26 million Redevelopment of Affordable Housing Community in a high-cost area of North ArlingtonOctober 30, 2013 - 8:00 am
