RICHMOND, Va. — A West Coast developer with a focus on income-based housing has expanded its footprint to central Virginia, and its inaugural project aims to revitalize a piece of South Richmond. Lincoln Avenue Capital (LAC) is planning a complete renovation of the Chippenham Place Apartments, a 144-unit complex it acquired earlier this summer for $18.1 million, according to city records. “The opportunity for this property came to market, and so we jumped on it because not only does it fit our mission with preserving affordable housing, but we just have a strong opinion of Richmond and other markets in Virginia that it was just a good fit for us,” said Wes McLean, a vice president and regional project partner at LAC
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