The Sherbert Group Announces Closing of South Line at Perry Place

The Sherbert Group is excited to announce the May 2019 closing of South Line at Perry Place, the $57M adaptive reuse of historic buildings in the Brown & Williamson plant in Petersburg, VA. The project will use tax-exempt bonds, 4% LIHTC, federal HTC and state HTC to create 226 affordable and workforce housing units along with more than 5,000 square feet of artist studio space. The City of Petersburg is highly supportive, as this will be the largest economic investment the City has seen in many years. The Sherbert Group of companies provided the bridge financing and the state equity investment, along with structuring, construction management and financial reporting services.