Riverwoods at Lake Ridge – Funding for New Construction

Osprey Property Company LLC is excited to announce that Riverwoods at Lake Ridge was awarded 9% tax credit funding through the Virginia Housing Development Authority.

The 17.5 million dollar project consists of 72 family apartments in two buildings. Construction is scheduled to begin in early 2013 with residents scheduled to move in the spring of 2014. Riverwoods at Lake Ridge will serve households earning 50% of the Area Median Income. The project is located off of Minnieville Road in the Lake Ridge section of Woodbridge, Virginia. The apartments have large floor plans ranging from 837-1329 square feet. All of the apartments include fully-equipped kitchens, washer and dryer, and individual heat and A/C. Residents can look forward to having garage parking and storage areas, in addition to a fully-equipped fitness center and a meeting room for large gatherings.

The development team will include KTGY, Harkins Builders, Smith Engineering, and Habitat America.

Completion is estimated for the spring of 2014. For further information please contact Lindsey Banks.