Renewing the Community
Dorsey Homes will contribute to the inclusive revitalization of Petersburg by purchasing and redeveloping 47 vacant lots near the former Virginia Avenue School. These vacant lots, once owned by the city, represent a significant step towards rejuvenating the Delectable Heights neighborhood. The vision involves the addition of 47 brand-new single-family homes, offered for rent to tenants with incomes at or below 60% of the area median income. These homes will become available for purchase by their current tenants after 15 years, fostering a sense of community and ownership.
Transforming History
Dorsey Flats takes on the ambitious task of transforming the long-abandoned Virginia Avenue School, which has stood vacant since 2008. With the guidance and support of the City of Petersburg, our mission is to breathe new life into this historic landmark. Upon completion of this project, the school will be reborn as a vibrant community offering 49 modern apartments tailored to individuals aged 55 and older. These apartments will be accessible to those with incomes at or below 60% of the area median income.
MH Advisor’s Role
MH Advisors, as a 20% partner in this 96-unit project, played an instrumental role in advancing the Dorsey Homes project through Virginia Housing. Dorsey Homes is an innovative LIHTC project, showcasing scattered-site infill with MH Advantage / CHOICE Homes. These homes will become available for homeownership after the initial 15-year compliance period, marking a unique milestone in affordable housing development.
More Information on Dorsey Homes and Flats:
Equity Plus (Development Partner) Dorsey Homes Description