Second Phase of $65.5 Million Development Permanent Loan Closed
We are pleased to announce the closing of a $14,250,000 Cedar Rapids and Trust Permanent Loan for Keswick Apartments Phase ll. The 116 unit, Earthcraft certified LIHTC family community is located in a new master planned mixed use development in the historic Spotsylvania Courthouse District, Virginia. The property is located in one of Virginia’s fastest growing counties approximately one hour from Washington DC. The new apartment community is one of three phases of a $65.5 Million, 336 unit multifamily and senior development created through a Joint Venture between Humanities Foundation and James Doran Company.
The one, two, and three-bedroom apartments are located within four traditional garden-style apartment buildings with a separate clubhouse. Three of the residential buildings are 3 story walk-ups and the fourth building has an elevator. Onsite amenities include: playground, computer/business center, community room, central laundry, covered picnic area, and fitness room.
Humanities Foundation also coordinates resident services and food pantry/marketplace deliveries services to our residents.
Joint Venture Partner: James Doran Company
General Contractor: KBS, Inc.
Architect: Martin Riley Associates – Architects, PC
Engineer: Webb & Associates
Attorney: Williams Mullen (Richmond VA office)
Property Manager: JDC Management, LLC
Virginia Housing Development Authority (VHDA)
Cedar Rapids Bank and Trust (CBRT)
Merchants Capital Corp.
Federal Home Loan Bank of Atlanta
Virginia Department of Housing and Community Development (DHCD)
Virginia Community Capital