Development
Ripley Heatwole Company (RHC) evolved from a real estate company, established in 1946, into a full-service developer. Affiliates include a Class A General Contractor, mortgage banking company, property management company, and telecommunications provider.
Our extensive experience and the superior talent of our team have made Ripley Heatwole one of the top multi-family housing developers in the Commonwealth of Virginia.
Ripley Heatwole Company (RHC) specializes in multi-family housing developments ranging from market rate mixed-use communities of over 400 units to affordable housing communities averaging 120 units. To date, RHC has developed over 5,000 rental units and for sale units, and over 200,000 square feet of commercial space. Currently, RHC has approximately 800 multi-family units and 40,000 square feet of commercial space under development.
Property Management
In addition to our development capabilities, we are successful property managers as well. Our dedicated property management team has had notable achievements in the market with both lease-up and lease renewals. Many of the properties that these professionals manage have received awards for outstanding ongoing management and maintenance.
Construction Management
RH Builders, Inc. (RHB) is a Class-A General Contractor that provides quality construction and construction management services for both residential and commercial projects. RHB works closely with the development team to ensure the timely approval of site plans, building plans and the issuance of required permits.
RHB’s expertise includes new construction, rehabilitation/renovation of existing properties, land development and infrastructure improvements. RHB’s skills in sub-contractor negotiation, supervision of work schedules, and tracking of costs ensures projects are completed on-time and on-budget.
Mortgage Banking / Equity Placement
Virginia Financial Advisors, Inc. (VFA) offers loan placement and equity placement services for real estate acquisition and development. Additionally, VFA supervises the preparation of documents and prepares applications for various housing programs, including Market Rate Apartment loans, Affordable Apartment loans, and Low Income Housing Tax Credits. VFA’s expertise and creativity allow its clients to produce housing, based on sound economic principles, despite ever changing financial markets.
VFA is a Virginia Housing Development Authority approved mortgage banker. They have placed construction/permanent loans, forward funding, and immediate funding with VHDA. These financings have included taxable bonds, tax exempt bonds and the Virginia Housing Fund.
Additionally, VFA has placed loans, or secured letters of credit for the development of multi-family housing from Bank of America, Wachovia / Wells Fargo Bank & CDC, BB&T, the Bank of Hampton Roads, First American Bank, Bank of Windsor, Crestar Bank, Cenit Bank, Investors Savings and Loan, Fulton Bank, Pillar Financial, Jones Lang LaSalle, Mass Mutual Insurance Company, Towne Bank, Virginia Beach Savings Bank, Atlantic Union Bank, and Charter Municipal Acceptance Corporation. VFA has arranged equity offers from Hunt (Related Capital / Charter Mac / Centerline), Lend Lease (Boston Financial), Sun America, Wachovia Securities First Partners, National Equity Fund, First Union Bank, Bank One, and others.