Downtown Hopewell Gets New Affordable Housing Complex
The city of Hopewell opened a new affordable housing complex on Tuesday, that will serve some of the city’s low income residents. The apartments will be income-based and equipped with energy efficient appliances for low utility costs.
Freedman Point is a 68-unit, 4-story building — offering single, family and senior housing to residents making between 40 and 60 percent of the area median income, which is about $16,000 to $25,000 per year.
The developer is Woda Cooper Companies, where Bruce Watts is the vice president of development. He has seen the project through from its conceptual stages about 3 years ago and said the apartments’ quality is what sets them apart from other affordable housing complexes.
“We believe that residents, people that work hard every day and people with children deserve to live in nice places that are safe,” Watts said.
Developers completed the project with the help of Low Income Housing Tax Credits from the Virginia Housing Development Authority to build the apartments.
Twenty residents are moving into the complex on Tuesday. Rents will range from about $560 to just under $1100 — and up to seven of the units will serve Section 8 voucher holders from the city’s public housing authority. A portion of the first floor will be reserved for commercial use.