Breeden Construction Set to Expand Building an Affordable Housing Community in Newport News, VA
Breeden Construction, a nationally acclaimed multifamily builder, is pleased to announce they have been awarded the contract to serve as general contractor to continue developing community infrastructure and housing for Newport News Redevelopment and Housing Authority’s Marshall-Ridley Choice Neighborhood. The developers for the project are Pennrose and Newport News Redevelopment and Housing Authority.
The $62.4 million development is scheduled to begin late December. Construction includes the development of community infrastructure, a wellness trail, new retail space and 155 new multifamily units. This new development is a part of the ongoing investment and transformation plan currently in place in the Marshall-Ridley neighborhood. Breeden Construction is finalizing construction efforts at nearby Carrier I and II.
The Marshall-Ridley Choice Neighborhood is a part of the Choice Neighborhoods Initiative (CNI), managed by the U.S. Department of Housing and Urban Development (HUD). The initiative gives grants to local communities to transform neighborhoods into places of choice by rebuilding distressed public housing and assisted housing, improving, and expanding services, expanding learning opportunities, creating pathways to jobs, and strengthening families.
“We are honored to serve as general contractor for the ongoing affordable housing efforts in the Marshall-Ridley neighborhood of Newport News, Virginia. In Virginia, there is a critical need for more affordable housing and, together with our developers, Breeden Construction looks forward to boosting the supply of affordable homes to the city’s residents,” said Brian Revere, Breeden Construction President.
With offices in Richmond, Virginia Beach and Charlottesville, Breeden Construction is ranked by Multi-Housing News as one of the largest multifamily developers in the nation. The general contractor is also building and renovating numerous other affordable housing communities in Virginia.
Nationally recognized, with over 60 years of expertise in every facet of the industry, The Breeden Company is a vertically integrated real estate development organization that boasts market-leading divisions including commercial real estate, multifamily property management and construction. With a portfolio of over 20,000 apartments and 2 million square feet of retail and office space that have been owned, managed and developed, The Breeden Company is one of the premier real estate development firms in the nation. Breeden Realty is one of the top commercial real estate firms in Virginia (Virginia Business, 2021); Breeden Property Management is one of the top multifamily property management firms in the country (Multi-Housing News, 2021); Breeden Construction, the much-acclaimed multifamily general contractor for numerous third-party clients, is one of the top multifamily builders in the country (Multi-Housing News, 2020).