Two Woodlands projects move ahead
ELKINS — The Woodlands Development Group announced that it has received a boost for one its major projects and is nearing the completion of another.
The former Tygart Hotel, which was purchased by Woodlands Development Group in November 2017, is being renovated and is projected to become a boutique hotel by the spring of 2022.
Woodlands paid $700,000 for the property on Davis Avenue, and plans to spend $11 million in redevelopment.
The project had been delayed but recently received some of the necessary financing, officials said.
“We have a commitment for a tax credit investment,” Dave Clark, executive director of Woodlands Development Group and Woodlands Community Lenders, told The Inter-Mountain. “So that’s kind of a game changer on the whole deal and that’s what is going to make it all work. The rest of the financing is coming together relatively quickly now that we have a commitment.”
Clark said construction work on the six-story built, which was built around 1907, should begin sometime next summer.
Another major Woodlands project, the Grace Davis Residences senior housing project located on Gorman Avenue, is nearing completion and will be finished by the end of the month.
The development, which began in April of 2019, will provide seniors with many amenities from Davis Medical Center, who partnered with Woodlands on the project.
“As part of the whole package they will get two meals per day, housekeeping, laundry service and security,” Clark said. “The hospital will be providing the services and we are providing the apartments. We had heard from so many people that there was nothing like this around here, so we are happy to be completing this project.”
Woodlands is currently taking applications for the Grace Davis Residences. Seniors will be able to start moving into the residences in November. Contact property manager Michelle Teter 304-642-5160 for more information.
The Woodlands Group also announced that it has received committed financing for a new duplex on Henry Avenue across from the old Central School building, and that the finishing touches are being put on the historic Golden Rule building in Belington.
Woodlands Development Group is a nonprofit organization and is a certified Community Housing Development Organization. Its services include purchasing and renovating older buildings.