NORFOLK, Va. — Nearly 300 affordable housing units have come online in Norfolk, offering relief in a region grappling with a shortage of affordable places to live.
A ribbon-cutting celebrated 295 refurbished apartments in Norfolk's Talbot Park neighborhood. The complex, now called the Estates at Talbot Park, dates back to World War II.
Formerly market-rate apartments, the units were transformed into affordable one- and two-bedroom homes over the course of a year. To qualify, a resident's salary can only reach a certain amount — for a single person, it's a little over $40,000.
Virginia House Speaker Don Scott helped celebrate the new beginning.
"When a property is that old, the easiest decision is to tear it down or to sell it to the highest bidder and move on. Genesis Properties made the difficult decision," said Scott (D-Portsmouth).
Property manager Tiffany Grice worked closely with Genesis Properties on the $29 million reconstruction and said the work was extensive.
"With the renovations they came in they changed all of the types to the new PVC pipes, all new electrical, you know, kept the hardwood floors, but refurbished them," Grice said.
Talbot Park's unveiling comes as the region faces an affordable housing shortage, an issue News 3 has covered for years.
According to a report from the National Low Income Housing Coalition, Hampton Roads is short nearly 56,000 units that would be affordable for people making less than 50 percent of the median income.
Grice said around 50 people living in the complex before the remodel were able to stay. The rest of the units are available for people not only looking for a place to live, but a stable home where they don't have to worry about making rent.
Genesis says one-bedroom units start just over $1,000 a month, with $300 off per month for renters approved before the end of the year.
Click HERE for more information on the units and to apply.
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