CHP Announces the Purchase of Old Farm Village in Christiansburg
Christiansburg, Va. — Community Housing Partners’ (CHP) portfolio of owned and/or managed housing units continues to expand, with the recent purchase of the Old Farm Village (Phase II) in Christiansburg, bringing the total to 4,741 rental homes throughout Virginia, North Carolina, and Florida.
The 84-unit development was constructed in 1978, and consists of one, two, three, and four-bedroom apartments. Rented to low-income households, the property features a community center, playground, and sports court, as well as central laundry facilities. Each apartment boasts wall-to-wall carpeting, outside storage, as well as heat and air conditioning.
In a time when more and more multi-family properties are being converted to market-rate rental and condominium housing, CHP will preserve the Old Farm Village Apartments as a source of affordable housing stock for the residents and community of Christiansburg.
“We are pleased with the purchase of Old Farm Village (Phase II),” said CHP Vice President of Multifamily Development John Henry. “The ownership and management of affordable rental properties throughout the southeast enables CHP to help under-served communities by providing low-income individuals with quality, safe, affordable housing,” Henry added.