South River Development Corporation
The South River Development Corporation is a nonprofit, nonstock affiliate of the Waynesboro Redevelopment and Housing Authority. As such, the Corporation’s work is not constrained by the regulations of the U.S. Department of Housing and Urban Development and other federal and state funding sources. Through the Corporation:
Fairfax Hall was developed. This century old building was one of the last prominent historic buildings in the City of Waynesboro and is listed on the National Register of Historic Places. The building was reclaimed and restored through funding received from the Low Income Housing Tax Credit Program, the National and State Historic Tax Credit Program, the Federal Home Loan Bank of Atlanta and the Virginia Housing Development Authority. The local landmark is now home to fifty-four (54) elderly families and the dining room serves as a backdrop for many civic and social functions. Fairfax Hall serves as a superb example of combining historic preservation with affordable housing to meet multiple community objectives.
The Mountain View Apartments were returned to the community as a viable source of affordable housing. On December 1, 1998, the Waynesboro Housing Corporation assumed the role of property manager for the development. The development was experiencing a low occupancy rate, a tainted reputation in the community and disrepair of the physical structures. Through the implementation of a comprehensive plan for improvement, the Corporation made such excellent progress at this property in a two (2) year period that the Corporation is now a General Partner in the ownership entity.
Dogwood Place was developed in response to a need for additional
supportive housing alternatives. Through a partnership of the Waynesboro Redevelopment and Housing Authority, Valley Community Services Board, and the ARC of Augusta, Incorporated, funding was received through the Section 811 Program of the U.S. Department of Housing and Urban Development to construct a four (4) bedroom group home to serve the mentally challenged. Supportive Services for the residents are provided by Heart Haven, Incorporated. The home opened in August 2001 and is governed by a seven (7) member Board of Directors appointed from the Waynesboro Redevelopment and Housing Authority, The ARC of Augusta, Incorporated and Valley Community Services Board.
The Greenstone Residence was added to the portfolio. The Greenstone Residence is a fourteen (14) bed group home for the mentally challenged with supportive services provided to the residents by the Valley Community Services Board. The Corporation acts strictly as the property manager for this facility.
Currently, negotiations are underway for the construction of a five (5) bedroom group home in the City of Waynesboro to be developed by the Greenstone Board of Directors, the construction of a six (6) unit supportive living facility in the City of Staunton and the rehabilitation of 420 West Main Street in downtown Waynesboro. The 420 West Main Street project will be a mixed use building featuring a permanent home for the Heritage Museum, market rate loft apartment and retail space.