Author: Will Jones

Advocating for a better home

Henrico sees opportunity when apartment complexes get new owners

In welcoming an improved Hope Village during today’s ribbon-cutting ceremony, Henrico officials said their experiences with the project validated the county’s new approach for seeking better living conditions at older apartment complexes.

Fairstead Affordable, operating as Hope Preservation LP, bought the property in 2018 and invested more than $5 million in renovations as part of a $14 million tax-exempt financing package. The financing was approved by the Henrico Board of Supervisors based on the complex’s location and issued through the Suffolk Redevelopment and Housing Authority.

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