Lawson is proud to share that Market Heights Apartments in Norfolk, VA have been awarded the 2024 CoStar Impact Award for Multifamily Development of the Year in the Hampton Roads Virginia market.

Market Heights is a two-phase community totaling 164-unit income restricted 100% affordable LIHTC (Low Income Housing Tax Credit) units in Norfolk’s St. Paul’s district serving residents at 40%, 50%, and 60% AMI. The development includes 80 units of Universal Design and 17 fully accessible 504-compliant units.

“Affordable housing is crucial to the region.” said Impact Award judge, Kenneth Kahn, dean and professor of the Strome College of Business at Old Dominion University.

Market Heights is the first property approved under the City of Norfolk’s new resiliency code mandating specific resilient measures applying to flooding, energy efficiency, and building integrity. The site has been raised out of the flood plain and manages 25% more stormwater due to improvements compared to the previous site. Environmental improvements resulted in Market Heights being recognized as an Elizabeth River Project River Star Business.

Lawson partnered with Hope House Foundation and Volunteers of America Chesapeake and Carolinas at Market Heights to provide permanent supportive housing to residents with disabilities.  Hope House also obtained a $100,000 grant from LISC Hampton Roads, powered by Sentara Health to fund a mobile food pantry, private telehealth booth, and accessible fitness center with wellness classes to benefit all Market Heights residents.

“Market Heights is a fantastic example of modern affordable housing, developed in partnership with organizations who share our values and mission and designed to serve the needs of our community.”, said Lawson President and CEO, Carl Hardee.

The CoStar Impact Awards recognize exemplary commercial real estate transactions and projects completed in 2023 with significant influence in neighborhoods or submarkets across 128 major markets in the United States, Canada and the United Kingdom.

ABOUT LAWSON

At Lawson, we understand that what we do – and how we do it – affects the everyday lives of people we care about. For more than 50 years we’ve focused on positively impacting people, from team members and residents to investors and business partners. We manage and own approximately 4,800 apartment units and continue to grow with 1,393 units in development. Our business model provides vertical integration of development, construction, property management and asset management, which enables our team of experts to add value at every stage for our partners. When you act with integrity, focus on quality and work to find creative solutions, great things are possible. It’s how we’ve done business at Lawson since 1972. For more information, please visit www.lawsoncompanies.com.