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Housing authority outlines $29 million Sykes Mid‑Rise renovation, seeks up to $17 million in private activity bonds
Summary
Norfolk Redevelopment and Housing Authority plans phased renovation of the Sykes Mid‑Rise senior housing building, conversion from public housing to project‑based Section 8 under RAD, resident relocation for several months and an upcoming bond request to support financing.
Nathan Sims, executive director of the Norfolk Redevelopment and Housing Authority, told the City Council on Feb. 11 that the authority plans a phased renovation of Sykes Mid‑Rise and will seek private activity bonds to close financing.
Sims said Sykes Mid‑Rise is an 84‑unit building constructed in 1980 that serves elderly and disabled residents. He described a conversion from public housing (Section 9 under the National Housing Act) to a project‑based Section 8 platform through the Rental Assistance Demonstration (RAD) program, which will allow the authority to pursue low‑income housing tax credits and private financing.…
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