Yesterday residents, developers and federal, state and local officials celebrated a new affordable housing option in downtown Newport News. Brennan Pointe, located at 3100 Warwick Boulevard, is a 44-unit apartment community that is home to seniors, families and singles who earn 60% of area median income or less. In December, the first residents moved in and the complex is already fully leased. Construction for a second phase named Brennan Pointe II begins soon on the adjacent property and is expected to open in about a year.
Brennan Pointe is a $7.4 million development that has a combination of two and three bedroom energy-efficient apartments with lifestyle amenities such as a community room and an outdoor play area. The development was awarded EarthCraft Platinum certification due the many sustainable features and materials utilized.
The developer, The Woda Group, Inc., and its affiliates are experienced developers, general contractors, and property managers specializing in the design, construction, and management of affordable multi-family apartments, senior communities, and single-family homes. The Woda Group, Inc. has developed and currently manages over 275 communities and over 10,000 units. Funding for the project was made available through Low Income Housing Tax Credits allocated by the Virginia Housing Development Authority, with RBC Capital Markets as the primary investor and Bank of America contributing additional funding.