Contact: Sherry Tyler
National affordable housing developer revitalizes Gainesville property amid region’s fast-growing housing market
VITUS EXPANDS PORTFOLIO IN STATE OF GEORGIA
Release Date: May 7, 2019
Gainesville, Ga. – Vitus, a national developer and owner of affordable housing, has announced the planned preservation and renovation of the 100-unit Linwood Apartments. Along with a new property in Savannah, this increases the company’s footprint in Georgia to a total of five properties. As part of the acquisition, Vitus renewed the building’s Section 8 Housing Assistance Payment contract for a 20-year period, helping to preserve and renew a property that has served as a source of affordable housing in the community for 45 years.
The large-scale rehabilitation project at Linwood Apartments comes at a crucial time for the expanding Gainesville housing market.
“Our team is proud to protect and extend the life of the Linwood Apartments,” said Michael Volz, development management director for Vitus. “This property plays an important role in Gainesville’s affordable housing market, and we look forward to renewing it and bringing in new features to improve the community for residents and neighbors alike.”
In addition to a major renovation of the apartments, Vitus is adding a community room and updating the onsite playground and other outdoor amenities. Vitus is also offering healthy lifestyle options for Linwood residents with monthly classes on nutrition, gardening, fitness and other topics.
“Our redevelopment of Linwood goes beyond interior updates,” said Volz. “The addition of a community garden will give residents the opportunity to connect more deeply with each other and the place they live.”
Renovation for the Linwood Apartments is currently underway and scheduled to be completed by the end of 2019. Vitus’s $5.6 million investment will cover numerous interior and exterior improvements such as new windows, appliances, cabinets, flooring and countertops, updated lighting, drywall replacement, masonry repairs and cleaning, new HVAC units, water heaters, and plumbing, ADA compliance updates, and more. To honor Vitus’s commitment to environmentally-friendly construction and housing, upgrades will include high-efficiency lighting packages, low-E coated windows, ENERGY STAR® qualified appliances, and high-efficiency plumbing fixtures.
The construction project is already underway and expected to create only minimal disruption for residents and the surrounding community.
At Vitus, our mission is to create positive impact - one community, one family and one life at a time. Since 1996 we have partnered with lenders, investors and public agencies to preserve and extend the life fo existing affordable housing across the country inmarkets with the greatest need. Through holistic renovation, we focus on the well-being of residents and rejuvenationg the surrounding community to both improve the overall quality and incorporate features that promote physical activity, community gathering and energy efficiency. To date, our team has provided stable homes to more than 25,000 residents in 25 states. www.vitus.com