Situated off of bustling Carmichael Road, Bristol Downs is bounded by commercial businesses, single family homes and a private school. Built in 1975, the property was upscale and trendy, with forty one residential buildings spread out over 21 acres. Its architectural design was stylish with staggered facades and flat roofs. Over time, however, the property degraded and became a neighborhood eyesore.
In 2005, Arbour Valley Communities acquired the property and secured critical Section 42 tax credits as well as Fannie Mae debt financing the subsequent year. Over the next two years, Arbour Valley invested $23.9 million, substantially rehabbing and repositioning Bristol Downs into a mixed income community for families. Flat leaky rooftops were replaced with pitched roofs. Rickety wooden stairs and walkways were replaced with long-term steel structures. New, upgraded siding, doors and windows were installed. Units were stripped and completely refurbished. The clubhouse was razed and erected anew. In 2008, like a butterfly emerging from its chrysalis, Bristol Downs was transformed, looking nothing like its former self.
Arbour Valley was pleased to have the opportunity to substantially improve the area and deliver this much-needed housing to the community.
