In addition to our interest in a potential ownership role, we have also successfully completed a number of real estate projects as a fee developer or project manager. If you have a project that you would like to discuss involving such an opportunity, we looking forward to speaking with you.
Please contact one of our staff today to learn more about our current development opportunities.
Samples of our development projects can be found below.
Our Health Campus Phase II (Winchester, Virginia) – This $11 million LEED silver project was developed as Phase II of the Our Health Campus, which currently houses many of the local non-profits including the United Way, Red Cross and Free Medical Clinic. This project involves the renovation of a 37,000 sq. ft. historic former foundry into offices to be occupied by local city and state agencies including the Winchester Department for Social Services and the Virginia Department of Health. Our team developed this project in conjunction with Our Health, Inc., which revitalized an area of the city once dominated by industrial uses. BW&A, acting as developer, created a financing program taking advantage of several funding sources including Federal and State Historic Credits as well as New Market Tax Credits to make this project a reality. Our affiliate Sustainable Concepts managed the LEED accreditation process and is also helping to provide energy modeling, building commissioning and other sustainability services. This was the first LEED accredited building in the City of Winchester.
Taylor Hotel Complex (Winchester, Virginia) – The historic Taylor Hotel, originally built in 1851 to house soldiers during the Civil War, had sat vacant since 2004 in the center of the downtown Winchester, VA walking mall. Its condition deteriorated to the point where there was a partial roof collapse in 2007. In 2010, the City Council condemned the property as blighted and unsafe. Then as the City Council moved to condemn the building, there was significant citizen participation and discussion of the merits of demolition versus renovation and the best design and use of the future project. In 2011, a joint venture between the Winchester Economic Development Authority and Brian Wishneff & Associates purchased the blighted Taylor Hotel with the intent to return the building into a successful and contributing member of the Loudoun Street Walking Mall. After the roof collapse, the building was supported by a series of cables that made renovating the historic structure a significant challenge.
The partnership between BW&A and the EDA used a variety of funding sources to redevelop this site including Federal and Virginia historic tax credits, a HUD 108 loan and conventional debt. These funding sources were pieced together to make the project financially viable.
The front portion of the building was completed in December 2013 and is now fully occupied as apartments and a large restaurant. The middle portion that once housed the theatre has been transformed into an outdoor pavilion and farmers market that will begin to host events including concerts, weddings and outdoor movies in June, 2014. The rear flytower has been converted into a mixed-use building scheduled to open in June, 2014. After many years of waiting, the people of Winchester are now able to enjoy this once vibrant and significant piece of Winchester history.
BW&A served as co-developer, managing all aspects of development including but not limited to overseeing design and construction, putting together the financing and performing initial lease-up of the space on behalf of the project.