1. Virginia Housing Development Authority
Leveraging Mixed-Use
Development to Drive
Downtown Economic
Revitalization

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Challenges Facing
Our Communities
• Residential areas are becoming increasingly
segregated by incomes
• Residents voice concerns about traffic but must
drive a car to perform almost every task
• Large areas of land are devoted to impervious
parking
• Older persons face transportation problems,
feel disconnected when they cannot drive
• New workers find it increasingly difficult to live
anywhere near their jobs

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Benefits of Mixed-Use
Developments
• Bring people closer to things that are needed
on a day to day basis
• Efficient use of public land and public
infrastructure
• Create a pedestrian friendly neighborhood that
is self sustaining
• People want to live there!

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Benefits of
Mixed-Income Developments
• Promote inclusion and diversity
• Can providing housing for people of all income
levels within one development
• Corridor reinvestment & revitalization

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Complementary Approaches
• New urbanism
• Green design
• Livable communities
• Sustainable developments
• Smart growth
• Healthy neighborhoods
• Neo-Traditional developments

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Livonia Avenue Corridor
Looking west on Livonia Avenue at Phase II Sites
Source: Google Maps, accessed 13 February 2013.

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Retail & Real Estate
Development Process
Pre-
Development
/ Due
Diligence
Retail Site
Selection
Finance and
close deal
Identify
market
Lease signed

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Retail Development in Neighborhoods
• Market Problems
-Perception of crime
-inactive property owners
-Insufficient data or lack of data
-Broker network
-Existing spaces inadequate
• Low capacity or lack of economic development groups
-No champions
-Lack of anchors (retail, cultural, institutional)

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Retailer Site Selection Process
Source: DC Vibrant Retail Streets Toolkit, p. 39.

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Beyond Vacancies: Impact of Retail Space
Impact
Neutral
Responsive to the
needs of the local
community
Catalyst for
revitalization
Redundant
business type
Adversely effects
local community
AnchorGrocery StoreCheck Cashing Services
Vacant Space
Convenience Stores

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Source: Bing Maps, accessed 13 February 2013.
Phasing Map
Development Goals
Phase I: Create critical mass and prepare entire corridor for
redevelopment (master planning, land use approvals,
partnerships)
Phase II: Focus on quick implementation to build on Phase I
momentum
Phase III: Implementation of community plans to support HPD
investment, connect East New York and Brownsville
Strategy

12. 11 vhda.com | 800-227-VHDA
Symbol Key Site Key
A. Entry site
B. Anchor institution
C. Public space
Entry point
Critical site
Disruptive building
Additional site
Elevated train line
Corridor Redevelopment Strategy
A
A
B C

13. 12 vhda.com | 800-227-VHDA
Livonia Avenue RFP
Land Use
• Map commercial overlay
• Increase density
• Allow for more retail diversity
Design
• Ground-floor use required
• Minimum ceiling height of 14 feet
• Minimum window glazing
• Additional Lighting
• Setback to achieve 22-foot
sidewalk on Livonia Ave and 13-
foot sidewalk on side streets
Implementation
• Retail attraction/retention
• Coordinate investment with SBS
and other agencies
• Partnerships

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Livonia Avenue Initiative – Phase I
Development Team
• Dunn Development Corp
• L&M Development
• Boys’ Club of New York
• NYC HPD
• NYC HDC
Proposal Components
• 290 units of affordable
housing
• 14,000 sf retail space
• 20,000 sf community facility
space
• 60,000 sf Boys’ Club of NY
facility
Source: SLCE Architects, 2012.
Source: SLCE Architects, 2012.

15. 14 vhda.com | 800-227-VHDA
Why VHDA?
• Experience in promoting an array of housing
opportunities throughout the Commonwealth
• Mission is to help low and moderate-income
Virginians attain quality affordable housing
• VHDA vision is to be “The Leading Mobilizing
Force for Affordable Housing in Virginia”
• Legislation effective on July 1, 2004 to enable
VHDA to finance mixed use/mixed income
properties

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REACH Virginia
Resources
Enabling
Affordable
Community
Housing in
Virginia
Outreach
& Liaison
Capacity
Building
Resource
Facilitation

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Mixed Use Mixed Income
Program Criteria
• Loan product for the acquisition, construction
and/or rehabilitation of developments
integrating mixed income housing units and
commercial spaces in targeted revitalization
areas
• 20% of units must be 80% or less of area
median income and 20% must be 120% or
below.
• Remaining 60% of residents are not subject to
income limits
• Majority of project is residential

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Underwriting Standards
• Lesser of 90% LTV or 95% TDC excluding
developer’s fees. Non-profits 100% LTV or
100%TDC
• Minimum 1.10 debt coverage ratio
• Loans are typically permanent forward
• 1% fee
• 30-year loan for new construction or adaptive
re-use; 25-year loan for rehabilitation
• All loans are non-recourse

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Project Location Mixed Use
Mixed Income
Mixed
Income
Revitalization District Y Y
Conservation District Y Y
Rehabilitation District Y Y
Qualified Census Tract Y Y
Non revitalization area
(local gov. support)
N Y

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MUMI Planning Grants

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Keswick Street
• Town of Clifton Forge and Total Action
Against Poverty (TAP)
• Located 2 blocks from Town Hall
• Convenient to local businesses, shops,
churches, banking, local theater
• 13 homes on street
– 4 acquired by a private resident
– 5 acquired by TAP

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Keswick Street-Clifton Forge

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Waynesboro
Heritage Museum

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Heritage Museum
• Former First National Bank of
Waynesboro
• Six one-bedroom apartments on upper
floor with one commercial space and a
space for Waynesboro Heritage Museum
• Financial sources and uses include
VHDA, New Markets Tax Credits,
Enterprise Zone Grant and Historic Tax
Credit Equity

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Contact Information
Keith Sherrill
Community Housing Officer - Local
Government Outreach
601 S. Belvidere Street
Richmond, VA 23220
(804) 343-5735
keith.sherrill@vhda.com