HAMPTON, Va. (WVEC) -- — A new development is coming to Phoebus.
The developer, The Whitmore Company, LLC is building 162 apartments homes at the corner of South Mallory and Libby streets.
80% of the apartments are at market rate and 20% would have income restrictions for potential residents who make less than $58,400.
Phoebus is one of Hampton’s seven strategic master plan areas, which means it has been targeted with tactical initiatives established to encourage economic and residential reinvestment into the community through both the private market and public resources.
Those master plans also include general recommendations for improvements to public infrastructure.
The Virginia Housing Development Authority is financing the project.
A project that's part of the VHDA Workforce Housing Program, which creates greater access to quality construction, will start in the next two weeks to prepare the site.
Construction begins at the start of 2019 and should take 16 months to complete.