Advantage Capital has closed a $68 million investment for Kindlewood Phase II, a redevelopment project in Charlottesville, aimed at creating 100 new affordable housing units and enhancing community resources.

Target Information

Kindlewood Phase II is a transformative redevelopment project aiming to revitalize a 44-year-old housing community in Charlottesville, Virginia. The project represents a substantial investment of $68 million, with a focus on creating a modern, inclusive, mixed-income neighborhood. The redevelopment will introduce 100 new affordable housing units, with approximately half designated as replacements for existing residents and the remaining units serving new families in need of housing.

In addition to residential units, the development plans include a learning center, a community center, and the headquarters for the Piedmont Housing Alliance, a critical partner in this initiative. This project, backed by Advantage Capital, reflects a strong commitment to addressing local housing challenges and creating sustainable living environments for residents.

Industry Overview in Virginia

The affordable housing sector in Virginia has faced significant challenges in recent years, characterized by rising costs and an increasing demand for quality housing. The state has recognized the need for innovative solutions, leading to the establishm