Green Lakes Apartments
Virginia Beach, VA
Newport News, VA
BLDG invests in affordable housing and applies a systematic approach to asset management to ensure a quality experience for residents and stable returns for our investors.
BLDG invests in urban and suburban communities in markets across the country. We invest in low income, moderate income, and workforce housing, including Project Based Section 8 communities and properties financed through Low Income Housing Tax Credits.
BLDG invests in long-term strategies to improve our communities:
We employ best-in-market managers to ensure high standards for property maintenance and operations. Paired with well-allocated capital improvements, we can improve resident satisfaction which translates to full occupancy and reduced operating expenses.
BLDG operates in 11 states across the U.S.: California, Delaware, Nevada, New Mexico, North Carolina, Ohio, Pennsylvania, Tennessee, Texas, Virginia, Washington
Average community-wide reduction in water consumption in communities retrofitted under the BLDG Green program
average reduction in common area electrical consumption in communities retrofitted under the BLDG Green program
average portfolio occupancy
The Knolls is a 260-unit Low Income Housing Tax Credit (LIHTC) property. The property is subject to a deed restriction dedicating the property to households that make less than 60% of the area median income. The property was constructed in 1963, and substantially renovated in 1997.
Sourced in an off-market transaction from an institutional owner, the property is in a superb infill location in Orange County, California. Well-maintained at acquisition, The Knolls nevertheless offers significant opportunities to create value through efficiency and sustainability projects that reduce waste and improve the tenant experience.
Affordable, Low Income
Housing Tax Credit
Sussex Green is a 132-unit project-based Section 8 property with an additional LIHTC funding layer. The property benefits from a long-term contract with the US Federal Government’s Housing and Urban Development Agency (HUD) that substantially guarantees the rents paid by low-income tenants The property was constructed in 1976, and significantly renovated in 2009.
By coordinating a study of area market rents with HUD, BLDG was able to improve the property’s economics without impacting tenants. As the property matures, its location in an Opportunity Zone and adjacent to Dover AFB are drivers of potential value.
Affordable, Project Based HUD