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Bellevue Village a Finalist in Magazine Readers' Poll

June 29, 2007 — Bellevue Village, an affordable-housing community on St. John, is one of four finalists in Affordable Housing Finance magazine's readers' choice contest for best affordable housing.
"Bellevue is successful because we always knew that we weren't simply building great housing — we were building a community," said Robert O. Jackson, president of the Reliance Housing Foundation.
When the office staff discussed Bellevue, they thought it would be the project that won awards, he said Friday.
"It's pretty exciting," he said.
Each of the finalists gets a photo and story in the magazine's August issue. The magazine is the main source for affordable-housing news, Deputy Editor Donna Kimura said Friday.
There are four finalists in each of nine categories, she said. Bellevue Village is in the rural category. There were 150 total nominations. The staff decides on the final four for each category, with the readers voting. Readers have until the end of August to vote, Kimura said.
Bellevue Village was built by Reliance, a non-profit organization that also built Lovenlund Apartments on St. Thomas. Reliance received the Charles L. Edison affordable housing tax credit excellence award in 2005.
The group also plans to build affordable housing at Calabash Boom on St. John, but that project is currently mired in U.S. District Court and the Board of Land Use Appeals because neighbors objected to the density.
The Bellevue Village community, located on Gifft Hill Road, has 72 units. It was built with housing tax credits awarded by the V.I. Housing Finance Authority, equity from AIG SunAmerica Affordable Housing Partners, a construction loan from Bank of America and a permanent loan from Greystone/FNMA.
For more information about Reliance's projects in the territory, visit reliancehousing.org. For more information about the magazine contest, visit housingfinance.com.
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