Housing

1018Patterson-Bef
1018 Patterson Avenue in the West End of Roanoke is the second rehabilitation project for Restoration Housing. As it is situated within the Historic District of Old Southwest Roanoke, we are using Historic Tax Credits to offset the cost of the rehabilitation overhaul necessary to make this a beautiful rental home for two low-income families. This project is currently under construction and slated for completion in late 2017.

What We Do

Restoration Housing’s main objective is to provide affordable housing opportunities through the redevelopment of existing buildings within Roanoke’s Historic Districts. We currently have two projects within the West End of Roanoke, both of which are turn-of-the-century homes that had been in severe disrepair. The second objective of our work is to reduce blight and vacancy, which ultimately leads to increased property values throughout the neighborhood as well as reduced vandalism and crime.

Restoration Housing’s development works on a unique model, which combines historic tax credits, in-house schematic drafting, tax credit syndication, and construction management. Ultimately, our developments are intended to enhance both timeless buildings and sustainable neighborhoods.

Each housing project offers affordable rents, whether they be workforce (slightly below Market Rate) or low-income (60% of the Area Median Income). Each project’s affordability index is based on the needs of the surrounding neighborhood.

Our non-profit development work also includes the following additional services:

  • Site identification/control
  • Proforma analysis, predevelopment costs and professional fees, sourcing investor tax credit equity
  • Submission of all funding and grant applications
  • Submission of Historic Part I, Part II, and Part III applications
  • In addition to providing development services, Restoration Housing provides asset management,  lease-up, and maintenance services.

For rental inquiries or for more information, please contact us at 540-797-0819.


530DayAve-Before
Restoration Housing’s first rehabilitation project began with a 96 year-old house, measuring 3,200 sq. ft. and in a severe state of disrepair. It had been vacant for almost 10 years and was last used as a five-unit flophouse. Fundraising dollars were used to acquire the house and a combination of State and Federal Historic Tax Credits to subsidize our construction costs.
530DayAve-After
After our rehabilitation overhaul, 530 Day Avenue is now listed on the National Register of Historic Landmarks and features two very spacious and high-quality units. Each unit features two full bathrooms, a kitchen with high-end appliances and granite countertops, and a washer and dryer. Historic details are preserved throughout, including wood trim, hardwood doors and flooring, original windows, and a metal roof.