The BLVD Group has acquired Aqua Vista Apartments, a 150-unit affordable housing community located on the waterfront in Newport News, VA. With plans for a $13.5 million redevelopment of the property – which was constructed in 1970 and has not been renovated since then – BLVD will convert its building systems from gas to electric power to reduce its carbon footprint and add energy and water saving features. Upon completion, the property is expected to receive Enterprise Green Communities certification as well as new roofs, insulation, energy efficient windows and entry doors.
George Saad of The BLVD Group’s director of acquisitions expressed his enthusiasm for this project: “We are pleased to partner with Virginia Housing and Enterprise Community Investments to preserve affordability at Aqua Vista Apartments through our 4% LIHTC acquisition.”
