Greysteel has completed the sale of Mary Hardesty House, a 60-unit senior community located at 218 Mosby Boulevard in Berryville, Virginia.

The property, which was developed using Low-Income Housing Tax Credit (LIHTC) financing, is encumbered by a long-term use agreement for the property to be Affordable Housing. The property was acquired by Community Housing Partners for $5.85 million.

Fletcher Hultman, Justin Mazzamaro, and Henry Mathies of Greysteel’s National Affordable Housing practice group exclusively represented the seller The Wentwood Companies. Mary Hardesty House is ideally located in the northern Virginia town of Berryville, about 65 miles northwest of Washington, D.C.

“We received strong investor interest in this property because it didn’t have any major deferred maintenance or operational challenges,” said Fletcher Hultman, Director of Mid-Atlantic Affordable Housing sales at Greysteel. “This acquisition allows Community Housing Partners to achieve operational scale in this market as they also own a nearby property.”

Subtext has announced its largest development with VERVE Charlottesville, a student housing project adjacent to the University of Virginia (UVA) campus.

Developed with joint venture equity partner Kayne Anderson Real Estate, the housing community is located at 100 Stadium Road. The project represents Subtext’s sixth deal in 2024 and its first in Virginia.

Spanning 729,262 square feet, VERVE Charlottesville will feature 1,332 beds in 463 units with layouts ranging from studios to four-bedroom apartments. VERVE Charlottesville will contribute $6.8 million to the Charlottesville Affordable Housing Fund as part of project agreements.

The project team includes Sumitomo Mitsui Banking Corporation as the project’s lender, John Moriarty & Associates as the general contractor, ESG Architecture & Design for architecture and interiors, and WOLF ACKERMAN DESIGN as the local consulting architect. Additional partners include AJC Design Group for landscape architecture, SK&A for structural engineering, Timmons Group for civil engineering, and Williams Mullen as local counsel.

Skanska has been appointed by Virginia Tech to demolish Randolph Hall and construct Mitchell Hall, a new 285,500 square foot facility for the College of Engineering. The five-story building will expand the campus footprint by over 70% and become the largest building on the Blacksburg campus. Mitchell Hall will feature glass, precast concrete, and Hokie Stone cladding, incorporating the existing stability wind tunnel into its design.  

The building will house a 200-person lecture hall, classrooms, offices, and flexible research spaces, supporting the College’s growth and modern learning and research needs. Construction starts in spring 2024 and is expected to be completed in spring 2028. Skanska has done construction projects at Virginia Tech, including the Undergraduate Science Laboratory Building and the Fralin Biomedical Research Institute Addition.