Advantage Capital finances affordable housing development in connection with Virginia HOTC

Advantage Capital announced the financial closing of The ZeroPak, one of the first combined investments under the Virginia Housing Opportunity Tax Credit and Virginia Historic Rehabilitation Tax Credit programs. The ZeroPak will serve as the first family-focused affordable housing development built in Winchester, Va., since 1999.

The ZeroPak is the adaptive reuse of a former 1900s-era apple processing and storage facility in downtown Winchester into a 121-unit, 100-percent affordable multifamily development.

“We are proud to partner on another State of Virginia LIHTC investment and are particularly excited about making one of the first combined state LIHTC/HTC investments in Virginia in tandem with ZeroPak Development LLC,” said William Fiederlein, vice president at Advantage Capital. “While the Housing Opportunity Tax Credit program is in its infancy, it is directly delivering new, affordable apartments across the Commonwealth. We are pleased to play a part in a