Bellwether Enterprise Provides $22M Construction Loan for Affordable Housing Development in Hampton, Virginia
HAMPTON, VA. — Bellwether Enterprise Real Estate Capital LLC has provided a $22 million Virginia Housing Development Authority (VHDA) construction loan for Monroe Gates Apartments, a planned 162-unit residential complex in Hampton. The property will offer eight two-story townhomes, four carriage homes and 150 one- and two-bedroom floor plans, 20 percent of which will be priced as affordable housing. The site is located at 200 S. Mallory St., two miles east of downtown Hampton and two miles west of the 409-year-old Fort Monroe. Communal amenities will include a clubhouse, fitness center, media room, conference facilities, dog park and a swimming pool. Kelly Martone of Bellwether originated the 35-year loan on behalf of the borrower, The Whitmore Co.