IDP Properties and Valdosta Housing Authority Win Tax Credit Award for Harvest Station Apartments
Valdosta, GA:
IDP Properties along with the Valdosta Housing Authority are pleased to announce they have been awarded $1,076,400 in federal and state housing tax credits from the Georgia Department of Community Affairs. These funds will allow the development of Harvest Station Apartments, an 80-unit affordable housing community consisting of one, two and three bedroom apartments. Harvest Station will have a total development cost of $18 million.
Harvest Station will be located at the intersection of South Troup Street and Griffin Avenue in Valdosta, GA. The site is the former home to several old tobacco warehouses that were demolished years ago. Rhett Holmes, President and Principal of IDP Properties said, “IDP is excited to partner with the Valdosta Housing Authority and work with City of Valdosta to invest and revitalize this underserved area of Valdosta.” The addition of the new community will work hand in hand with the City of Valdosta in their ongoing transformative planning effort in the South Valdosta region. “The selection of this project will definitely be a tremendous boost in the revitalization efforts in this area. It is particularly moving that a previously blighted property will now serve to provide quality residential dwellings for the community. This development showcases the success of collaboration of public and private organizations”, stated Mark Barber, Valdosta City Manager.
The Harvest Station development will be geared to families, with amenities nearby, such as the McMullen Southside Library, which is currently undergoing a multimillion dollar renovation, Partnership Health Center, and Payton Park. The housing community is the first phase in a multiphase development on the six acre site. Mark Stalvey, Executive Director of the Valdosta Housing Authority said, “In fulfilling our role as a provider of quality affordable housing for the citizens of Valdosta, the Valdosta Housing Authority is excited to participate as a true partner in this historic public-private partnership. We are committed to exploring ways to bring our local citizens quality affordable housing through innovative partnerships such as this, to continue meeting our mission of providing life’s most important need – stable affordable housing.”
Harvest Station will be a certified Earthcraft Community and is expected to break ground in the 3rd quarter of 2023. The architect of the development will be Valdosta-based, IPG Architects. The construction of Harvest Station is expected to take 14 months. Once complete, the apartment community will be managed by Integrity Management Company.
IDP Properties is a full-service boutique real estate development firm headquartered in Valdosta, GA that invests in and redevelops communities. IDP’s principals have completed over $1 billion dollars in developments and specialize in acquisitions, property management, consulting, and development with an emphasis on housing. IDP takes pride in that each property they develop is as diverse as the communities they serve. IDP Properties’ purpose is to strengthen communities and leave a lasting positive impact.