Orcutt Townhomes

VCDC is pleased to welcome Orcutt Townhomes I to our portfolio.

with Newport News Redevelopment & Housing Authority

October 2023 — Orcutt Townhomes I is a redeveloped community that will offer 40 fully redesigned and refurbished homes for families making 40%, 50% and 60% of the Area Median Income in Newport News, Virginia. With a poverty rate of 16.9%, which is over 6% higher than the state average (US Census), the City of Newport News has a high need for high-quality, affordable housing, and Orcutt Townhomes is leading the way to achieving better homes for families who need them the most.

Orcutt Townhomes’ history began in 1940, when it was developed as a public housing community until the original building was demolished in 2003 to make way for Orcutt Townhomes, which was one of the first “mixed-financing” communities ever approved by HUD. The townhomes were financed using a combination of Low-Income Housing Tax Credits and Capital Grant Funds so that rents could be subsidized for low-income families. Now, Newport News Redevelopment & Housing Authority is using a new allocation of tax credits to renovate all 40 three-bedroom apartments.

As a part of redevelopment efforts, six apartment homes will be redesigned to include accessibility features for residents with disabilities including roll-in showers, roll under sinks, and front control ranges. All apartment homes will also meet Virginia Housing’s energy efficient requirements, which will not only lower utility costs for residents, but also ensure high-quality heating and cooling systems. The site is less than a mile from an emergency clinic, pharmacy, elementary school, and middle school. Public transportation access is less than a quarter mile from the site.

VCDC has invested a total of $5,147,485 in LIHTC Equity through our VCDC Equity Fund 25 that will assist with Orcutt Townhomes renovations. We are working with long-term partner Newport News Redevelopment and Housing Authority (NNRHA) on Orcutt Townhomes. Founded in 1939, NNRHA has been the primary affordable housing provider on the Virginia peninsula for over 75 years. The NNRHA currently administers over 2,200 Housing Choice Vouchers and owns and manages over 1,600 affordable rental housing units throughout the Newport News metropolitan area. We have worked with NNRHA on four successful communities in our Housing Equity Funds: Oyster Point-Brighton, Cypress Terrace, Spratley House and Lassiter Court. This dedicated service record supports the NNRHA’s mission to maintain and create affordable housing, viable neighborhoods, and opportunities for self-sufficiency that enhance the quality of life for all Newport News residents.