SUFFOLK, Va. (WAVY) – The 206 apartments at the end of Davis Boulevard off of White Marsh Road in Suffolk had seen much better days since they were first built as the city’s first public housing project back in the 1970s.

But the transformation of the apartments now known as White Marsh Pointe at Eagle Landing, a process that began in earnest more than two years ago, is largely complete.

To showcase the efforts of the Suffolk Redevelopment and Housing Authority, it will hold a ribbon cutting at 11 a.m. Thursday.

The apartments include 113 rehabilitated apartments and 93 more that were torn down and completely rebuilt.

Residents have already moved into all but one building of the rehabbed apartment complex, which used to be called Cypress Manor and is now known as Eagle Landing and has one and two-story units.

The first of the rebuilt apartments, which used to be known as Parker Riddick and is now White Marsh Pointe, is expected to have residents move in beginning in January. It will have residents in apartments on three stories.

The $46.3 million project, financed through a mix of tax credits, a SRHA loan, $275,000 from the city and $1 million in grants from the Federal Home Loan Bank of Atlanta. The Department of Housing and Urban Development endorsed the $23.1 million Federal Housing Authority-insured mortgage for the project. Mutual Builders of Wilson, North Carolina has been the construction company building the apartments.

“This project is the culmination of many years of hard work by the SRHA, including the previous Executive Director, Clarissa McAdoo-Cannion and previous and current Board of Commissioners,” said Tracey Snipes, executive director of the housing authority in a statement. “When both phases are complete, residents will enjoy the benefits of living in affordable apartments with better amenities such as washer/dryer hookups, dishwashers, access to wi-fi and upgraded recreation and community spaces.”

Snipes said the properties are the oldest managed by the housing authority, and it is “excited to offer this (low-income housing tax credit) community, which is designed for a better, more seamless integration of affordable housing with the overall community.”

The project began in earnest in late October 2020 with the mortgage closing and HUD loan endorsement.

The old Parker Riddick apartments were demolished and the Cypress Manor apartments began the rehabilitation process in January 2021.

During construction, residents living in the rehabilitated former Cypress Manor units were transferred to another unit within the complex.

Those in the former Parker Riddick units that were demolished received housing choice voucher assistance to let them relocated to other places in the city. If they decide to return to the development, their rent cost will not change.

Through 2024, Vista Capital Management, experienced in managing low-income tax credit communities, will be managing the properties, and then the housing authority will resume management of them. Both White Marsh Pointe and Eagle Landing will be owned and managed by Eagle Landing Apartments LP, based on a long-term lease with the housing authority, with it as the 51% general manager and TCG Development Advisor as managing general partner.

The housing authority will continue to manage 260 units of public housing at Colander Bishop Meadows, Hoffler Apartments and Chorey Park Apartments.

Speaking on behalf of the housing authority board, chairman Quinton Franklin said the project aligned well with its motto, “Changing Housing, Changing Minds and Changing Lives.”

“We share Ms. Snipes’ sentiments of gratification of being able to take this project across the finish line to completion,” Franklin said, “and to improve the lives of our residents and increase the affordable housing stock in the city of Suffolk.”