Restoration Housing offers three distinct programs as part of our mission to create and assist in development projects with a focus on the preservation of historic architectural resources for the benefit of limited income families. Founded in 2014, Restoration Housing is the only nonprofit, historic tax credit developer in the Roanoke region. Utilizing a business model that combines historic tax credits, in-house schematic drafting, tax credit syndication, and construction management, Restoration Housing is deeply committed and uniquely positioned to support preservation, affordable rental housing, and neighborhood revitalization to strengthen families and communities.
Our first program is in housing development, which is our primary focus and involves the restoration of blighted and vacant properties throughout Roanoke’s Historic Districts in order to provide affordable housing opportunities to families in need. Our housing 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.
Community Impact Projects
Our second program is in the development of Community Impact Projects, which provide affordable rental options for nonprofit organizations seeking to expand services in low to moderate income neighborhoods. This program also involves the restoration of blighted and vacant properties throughout Roanoke’s Historic Districts.
Our nonprofit development work for both housing and community development initiatives also includes the following 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
- Asset management, lease-up, and maintenance services
Our final program involves consulting work with mission-minded developers, nonprofits, and government entities in the following work:
- Part I, II, and III Historic Tax Credit applications for both state and federal offices
- Development feasibility studies
- Consulting for Design Guideline and Architectural Review Board compliance
- Section 106 applications
- Community Impact Measurements
- Urban Design Pattern Books
- Consulting for Urban Design and Historic Preservation development work