Ross Cos. Negotiates Sale of 152-Unit Affordable Housing Community in Newport News, Virginia

by Alex Tostado

NEWPORT NEWS, VA. — Ross Cos. has negotiated the sale of Woodlands at Oyster Point, a 152-unit affordable housing community in Newport News. The property was built in 1978 and offers one-, two- and three-bedroom floor plans. Communal amenities include a pool, public transportation, a playground and 24-hour laundry services. Allagash Opportunity Zone Partners LLC acquired the property for an undisclosed amount. Ross Cos. will manage the property, as well as oversee a year-long renovation program that has budgeted $40,000 per unit in upgrades. The team will also upgrade communal amenities. The community is situated at 819 Forrest Drive, one mile south of downtown Newport News. The seller and sales price were not disclosed.

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