Photo: UrbanCore’s Winchester Forest developments
As a General Contractor, UrbanCore Construction prides itself on their industry experience and expertise in affordable housing and low income housing tax credits (LIHTC), with 100% of their multifamily work being affordable. They have delivered over 500 ADUs throughout the Commonwealth of Virginia and are passionate about providing safe, affordable homes to the thousands of residents in need.
They are especially proud of one of their recently completed projects, Winchester Forest. Winchester Forest is a new construction development of nine 2-3 story buildings over 13.3 acres in Chesterfield, VA, providing 160 affordable units to their community. This was a 2 phase project running concurrently while qualifying and committing to the following requirements: EarthCraft, EnergyStar, HIEE, MBE, Section 3, and certified payroll. This community, developed by Better Housing Coalition, provides high-quality, affordable homes and services to help residents of all ages achieve better health, academic, or economic outcomes.
Winchester was a 4%/9% LIHTC deal meaning each phase was financed by a different lender requiring separate owner and subcontractor invoices, independent schedules, and the need for a phased turnover to accommodate tax credit requirements. Each building was scheduled, punched, inspected, and turned over as it became available. Detailed coordination with their trade partners and Chesterfield County was required to allow move-ins to be scheduled, in turn, allowing the developers to satisfy tax credit deadlines while major construction was ongoing. They were able to successfully begin turning buildings over months ahead of their contract completion date.
“We are incredibly grateful for Virginia Housing Alliance, especially for their part in education around Virginia’s housing challenges, and their advocacy for the expansion of affordable housing opportunities. The work that we do would not be possible without the efforts of VHA.”
–Ashley Gillen, Director of People Experiences at UrbanCore