Bluestone Submits itS Financing Application for the new senior apartments on 3/14/24.
Bluestone Submits itS Financing Application for the new senior apartments on 3/14/24.
As currently envisioned, Bluestone Town Center (BTC) will introduce approximately 900 units of mixed-income housing with service-oriented commercial space less than five miles from Downtown Harrisonburg.
Located at the intersection of Garbers Church Road and Erickson Avenue, the development presents a unique opportunity to develop a mix of housing, including For-Sale Single Family detached and Single-Family Attached, Rental Single-Family Attached, traditional Multi-Story Multifamily and Senior Housing at affordable prices across from Harrisonburg High School and adjacent to Bluestone Elementary School.
BTC, made possible by a public-private partnership between the Harrisonburg Redevelopment and Housing Authority and EquityPlus, will feature energy-efficient homes and apartments, for-sale housing eligible for Fannie Mae and Freddie Mac MH Advantage financing, interconnections to the existing Greenway trail system, and site amenities including pocket parks, playgrounds, HDPT bus stops, and walking trails. This development will have a pedestrian-focused environment to increase connectivity and walkability. The development has been thoughtfully and carefully designed to mix housing types across the site to create an inviting environment for both visitors and residents to enjoy.
For a portion of rental homes, the Housing Authority will use housing choice vouchers to assist qualifying residents with rent. We also plan to apply for funding through Virginia Housing’s 9% and 4% Low Income Housing Tax Credit (LIHTC) program. EquityPlus has over a decade of experience in this field and has developed housing in South Carolina, North Carolina, Virginia, Maryland, and Washington, D.C. using the LIHTC program and others, including the Housing Trust Fund, Opportunity Zone Funds, and various state tax credit programs.
Throughout Bluestone Town Center, we work to ensure that each visitor and resident can feel the quality and care put into thoughtful and intentional design.
Energy efficiency and specific attention to the environment are at the core of Bluestone Town Center.
Home is where the heart is, and our heart is big. Bluestone Town Center is a place for everyone to live, love, learn and grow.
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