Boston Capital has invested in the rehabilitation of two seniors housing properties in Virginia.
They are the 48-unit Amherst Village Apartments in Amherst and the 43-unit Meadow Run Apartments in Gordonsville.
The communities will be rehabilitated with the help of low-income housing tax credit equity from Boston Capital. The general partners are affiliated with Maryland-based T.M. Associates, Inc., along with Telamon Corp., a nonprofit based in North Carolina.
The rehab is estimated to generate $3.5 million in local income and create about 40 jobs in the areas. To date, Boston Capital has invested in nearly 13,200 affordable housing units in Virginia.
