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CHOICE NEIGHBORHOOD INITIATIVE
(CNI)
Lift and Rise on Jefferson
Leasing Update:
Lift & Rise | (2700 building) is currently at 93%
occupancy, with three available units:
° Two affordable units — Both have
applicants scheduled to move in on April
17, 2025.
e One market-rate unit — An applicant is
set to move in on April 25, 2025.
Lift & Rise II (2800 building) is at 95%
occupancy, with two available units:
e Two affordable units — Applicants are
scheduled to move in on April 22 and
April 25, 2025.
Lift and Rise Commercial Space Update:
The retail space, located on the ground level of
the 2700 and 2800 buildings, has successfully
passed all inspections. Abbitt Realty will take
new marketing photos to relaunch leasing
efforts now that the property is fully ready for
occupancy.
Legacy Landing
Former Ridley Place Site-(12th-18th Street
between Jefferson and Ivy Ave)
CNI III-R — Leasing in process
As of April 2025, the Legacy Landing Lease-Up
Report details the occupancy and application
status for Phase III-R (71 units), which is
currently leasing. 41 units are occupied, with 8
more approved for move-in. The leasing office
has received 350 applications from the general
public and 50 from former Ridley residents,
with 11 still in process.
For returning Ridley residents, 28 have moved
in, 8 are approved, 11 are in process, and 3
were canceled or denied.
All lll-R (58) PBV and replacement units are
expected to be fully occupied by the end of
April 2025.
Legacy Landing. Lease-up report is as follows:
Legacy Landing Lease Updated as of January 2025
Up Report
Phase Phase Total
II-R IV-R
71 units | 84 units | 155 units
Total Units Occupied 41 41
Applications from 350 350
General Public
Applications from 50 50
Former Ridley Residents
Retuming Ridley Residents
Applications Approved 8 8
for Move-in:
Moved- in 28 28
Applications In-process 11 11
Awaiting processing 14 14
Application Cancelled or 3 3
Denied
CNIIV-R - Construction is approximately 99%
completed :
The schedule has been extended by two weeks
due to additional ROW lighting and stormwater
work, pushing project completion to late August
2025. The Pennrose Development team is
working to secure TCOs from the City of
Newport News for the first four townhomes by
the end of April 2025. While applications
remain under review, property management
and NNRHA are coordinating inspections to
ensure a smooth transition and seamless
move-ins.
Additional Construction Updates
e Infrastructure: 97% complete.
e Wellness Trail: 72% complete.
e Seafood Market: Ground breaking slated to
begin in the summer of 2025.
e Retail: 100% complete
Phase V - Downtown Phase (28th Street and
Washington Avenue)
The schedule for Phase V — Downtown Phase
(28th Street and Washington Avenue) has
been slightly adjusted, with the closing date
now set for mid-July 2025 and an estimated
construction completion timeline of 14-16
months, targeting late Fall 2026. The site
development plan is scheduled for submission
42 to the City of Newport News on April 4, 2025.
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