WNC and Belmont Development Company have closed a deal for the acquisition and renovation of three housing properties in Oklahoma, US.
The properties, GardenWalk of Pocola, GardenWalk of PocArk – Pocola, and GardenWalk of PocArk – Arkoma, will undergo extensive renovations with Low-Income Housing Tax Credits financing.
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Located at 207 Howard Street, GardenWalk of Pocola consists of 36 units in six two-storey buildings, including a community building.
The property at 210 Rowe Avenue, GardenWalk of PocArk – Pocola, offers 20 units across ten one-storey buildings.
An additional building will be constructed to house a two-bedroom residential unit and a property management office.
GardenWalk of PocArk – Arkoma comprises 23 units across four buildings.
The renovations aim to create a modern, community-focused living environment for family households with incomes up to 50% and 60% of the area median income (AMI).
Upgrades to the residential units will include vinyl flooring, energy-efficient LED lighting, updated baseboards, new window blinds, and ceiling fans, as well as the removal of outdated popcorn ceilings.
Each unit will be equipped with an ENERGY STAR heating, ventilation and air-conditioning system, a new security system, and internet access.
Kitchens will feature new appliances, cabinetry, and plastic laminate countertops and backsplashes. Bathrooms will see improvements in ventilation and the addition of new fixtures.
Exterior renovations will include updates to basketball courts and playground equipment, new covered seating areas with BBQ grills, electric vehicle charging stations, and new trash enclosures.
Common areas will be enhanced with driveway and kerb repairs, sidewalk restoration, car park restriping, accessibility upgrades, and updated signage.
Structural and aesthetic improvements to residential buildings will involve new roofs, vinyl shutters, gutters, entry doors and windows, as well as repairs to wood siding, facias, and brick.
Outdoor lighting will be refurbished, and foundation work will be concluded to ensure the properties’ long-term stability and kerb appeal.
The renovations are expected to be completed by November 2025.
