USDA Rural Development national office employees applauded the completion of Lily Ridge Apartments in Ruckersville at a ribbon cutting ceremony and open house in early November. The ceremony celebrated the development of affordable rental homes that can house nearly 50 families from Greene County and surrounding areas.
During the ceremony, Jen Surber of Surber Development and Consulting LLC, recalled that the apartment complex moved in its first 12 residents on Sept. 15. She said 22 units were already occupied with expected closings on the remaining units by the end of the month.
Lily Ridge Apartments is a part of a larger community development effort that was prompted by a 2014 market study that showed a need for approximately 402 affordable rental units in the area. Lily Ridge is supplying 48 units, representing 11.9 percent of that need. In a revitalization certification, chairman of the Greene County Board of Supervisors, David Cox certified that affordable rental housing will economically benefit Greene County.
In this fiscal year, USDA Rural Development Virginia funded a Multi-Family Housing Loan Guarantee of $2,222,564 to support this effort. It was also supported by the Virginia Housing Development Authority which reserved $4,415,470 in tax credit equity for Lily Ridge’s development.
Lily Ridge is targeted to individuals and families earning less than 60 percent of the area median income. The apartment complex consists of four buildings that include eight one-bedroom, 28 two-bedroom and 12 three-bedroom units. Twenty-four of those units have universal designs and five are 504 Home Repair accessible which are actively marketed to individuals with disabilities.
The facility’s community amenities include a community building with a full kitchen, shared laundry facilities and a resident office center equipped with computers, printers and broadband. In addition, a tenant council will be organized to improve the quality of life of tenants and maintenance of the property.