““Reconnecting McDowell is an example of unions engaging with community and a diverse group of partners to reinvigorate one of America’s poorest counties. By addressing social, emotional and economic needs, we are building a pathway to a brighter future for students and their families. Renaissance Village offers much-needed modern
housing for teachers and an economic spark for McDowell County.””
Renaissance Village - Welch, WV
Allocation: $9M | TDC: $9.3M | Union Construction Jobs: 50 | Permanent Jobs: 18 | Commercial SF: 9,800
Building America CDE, a subsidiary of the AFL-CIO Housing Investment Trust, allocated $9 million of New Markets Tax Credits for Renaissance Village. This project is a mixed-use property and is the first new multi-story construction project in Welch, WV in over 50 years. Its 9,800 square feet of commercial space will be leased to a variety of community-serving tenants, including: Tug River Health Association (a federally qualified health center); Reconnecting McDowell (a community organization formed by project stakeholders and acting as Project Sponsor); and, a mix of local unions, community groups and other local organizations. The 16 residential units will be marketed to teachers in the McDowell County Public School District.
Building America assisted Reconnecting McDowell with completing the capital stack for this critical revitalization effort. The project first came to Building America in 2012 through the American Federation of Teachers and for 8 years we worked with project stakeholders to ensure their vision would be realized. Renaissance Village will be built with 100% union labor, generating 98,950 hours of union construction work and $2.6 million in state and federal tax revenues.