Foundation Receives LIHTC Award for Third Phase of $56 Million Development

Fredericksburg, VA – Humanities Foundation has been awarded housing tax credits from the VHDA to build a 116 – unit apartment complex valued at more than $20 million. Keswick Apartments II will be the Foundation’s fifth development in the Fredericksburg, Virginia MSA. This attractive three- story complex will be comprised of garden apartments for families, some of which will be elevator served. Keswick Apartments II will be the third contiguous phase developed by Humanities within the Keswick development. Construction has already begun on the first phase, Keswick Senior Apartments, and Keswick Apartments I, the second phase, is expected to begin construction soon thereafter. Once completed, all phases will be Earthcraft Platinum Certified and have a value exceeding $56 Million. “All three phases will form a community and allow economies of scale in regard to management, implementation of resident services and other areas,” said Tracy Doran, President of Humanities Foundation, “and this is an ideal situation for both the residents and us.” The community will neighbor the master residential development of Keswick, which will consist of townhomes, single family homes, age restricted villas, and an assisted living facility. Residents of the community will be able to enjoy sporting amenities, green spaces and walking trails. Fredericksburg is located within the vibrant Washington DC metropolitan area and is consistently ranked one of the top cities in the nation for quality of life.

Unit amenities will include a refrigerator, range/oven, garbage disposal, dishwasher, microwave, washer dryer hookups, carpet, tile, blinds, ceiling fans, walk- in closet and coat closet. Common area amenities will include a clubhouse, fitness center, picnic area, playground, business center, computer room, laundry facility and video surveillance.

Construction will begin during early 2018 and will take approximately 14 months. Keswick Apartments II will be a joint venture with James Doran Company. Martin Riley and Associates will be the architect and Webb and Associates will be the civil engineer.

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