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Henderson Hope VI Phase II

The second Phase of the Hope VI projects that Rehab Development in Henderson, NC was primarily paid for by another $1,000,000 HUD Hope VI Main Street revitalization grant that Patrick Reilly of Rehab Development assisted the City of Henderson in preparing a winning application for. Remaining project funding was provided by building owner equity and historic tax credits were an additional source of equity available on the project. This project phase included the rehabilitation of 2 buildings on Main Street (Garnett Street) in downtown Henderson and resulted in 9 apartments. Like the previous project in Henderson, after the initial tenants of each unit move out these units become market rate apartments with no income restrictions. Project construction commenced in October of 2011 and was complete by 06-30-2012.