In the heart of rural West Virginia sits the quaint and historic city of Montgomery. While the area continues to see a growing need for affordable housing options, the adaptive reuse of the former College of Economic and Business (COBE) building on the former West Virginia University Institute of Technology campus into housing for the elderly promises a new era of revitalization for the region.
Originally constructed in 1951 to cater to the educational needs of returning veterans, the COBE building stands as a testament to the town's rich history. Now, Cavalier Heights Apartments offers affordable housing and community revitalization while preserving its heritage. With 28 units tailored to seniors aged 55 and older who earn below 40% and 60% of the Area Median Income, it addresses a critical need for housing in Montgomery and its surrounding areas.
Adaptive Reuse: 28 Units
Private Equity Investment: $4,035,555
During Construction:
Local Jobs Supported: 24
Projected Government Revenue: $122,358
To successfully repurpose the building, CAHEC partnered with Harbinger Developments and its affiliate Encore Management, Inc., which manages the property's daily operations. Cavalier Heights provides amenities such as a classroom, vending area, and community room, fostering engagement among residents. These facilities enhance the well-being of seniors while cultivating a shared sense of community within Montgomery.
Cavalier Heights symbolizes more than just a housing development; it represents a commitment to the future of Montgomery. Repurposing a historic landmark into a vibrant community hub set a precedent for sustainable revitalization and inclusive growth. As the area continues to grow, Cavalier Heights will ensure that local seniors have access to safe and affordable housing for years to come.
7700 Falls of Neuse Road, Suite 200
Raleigh, NC 27615
919-420-0063
This institution is an equal opportunity provider.
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