Strong, healthy communities that are safe, affordable, and dignified.
THE MISSION of Restoration
Housing is to develop affordable rental properties for the benefit of under-resourced communities through the rehabilitation and stewardship of the historic, built environment.
2 2023 Annual Report
Together we earned $262,852 in foundation and grant support, $36,600 in development and property management income as well as $20,491 in other revenue
Together we raised $154,520+ in individual and corporate donor contributions and $23,500 for the Villa Heights Stewardship Campaign
We started construction on 930 Stewart Avenue.
Dear supporters and friends, 4 2023 Annual Report
In 2023, we selected #HousingForAll as our annual theme highlighting the need for more “Middle Housing,” a development form that encompasses diverse housing choices in terms of type and affordability. These housing forms can be found in our favorite historic neighborhoods and allowed original inhabitants to remain in their community for their entire lifetime, regardless of age or economic standing. It’s a development form that is making a comeback in our neighborhoods as a tool for affordability and long-term sustainability. This theme informed every aspect of 2023 from our Architectural Minute Video Series, to our luncheon keynote speaker selection, and our virtual campaign focus.
But #HousingForAll is more than just an annual theme for us, it is what we do every day of every year. Our organization was incredibly busy in 2023 as we worked behind the scenes, so to speak. While the more visible side of our work during construction was on hold until the late Fall (an effect of my maternity leave in early 2022), we had more than enough predevelopment work to tackle in preparation for three future projects.
We began 2023 by acquiring 930 Stewart Avenue, our fourth rehab project in the Belmont neighborhood of Southeast Roanoke and our seventh rehab overall. Another Folk Victorian house built at the turn of the century with a lot of charm, it was owned and loved by one family for several decades before they found us as a buyer. We were able to acquire the property through the help of TAP’s Land Bank and we quickly began work applying for Community Development Block Grant funding from the City of Roanoke along with other funding sources. We began construction in the Fall with a nine-month long construction timeline. The scope of work for this rehab entails the restoration of all historic features, including the reconstruction of its historic wooden front porch, and incorporation of modern living amenities.
Throughout the Spring and Summer, we also began predevelopment work for two new and exciting projects. For our first project, we entered a partnership of organizations working to bring back the services previously provided by Bethany Hall.
As part of our partnership, we signed up to purchase, restore, and then own and operate the new residential treatment facility that will serve pregnant and postpartum women with substance use disorder and their newborn infants. We spent much of 2023 working on finding the right property, fundraising to purchase it, and working with our partners to finalize our scope of work to rehab the property in 2024.
We also began predevelopment work on the future rehab of Trinity United Methodist Church into fifteen units of elderly affordable housing (to be called Trinity Commons, once complete in 2025). We worked to secure funding sources, explore historic tax credit feasibility, and began the rezoning process that was necessary to change its use into residential apartments. We successfully rezoned Trinity with the help of Hughes Architects and Engineers in December while also juggling the acquisition of 1729 Patterson Avenue (the future home of a residential treatment facility for pregnant and postpartum women and their newborn infants), which we officially purchased the first week of January 2024 thanks to a large grant from Aetna.
The seeds that were sewn in 2023 are visibly sprouting now in our tenth year as an organization. We are busier than ever and working on these two large and impactful projects that will serve our community’s most vulnerable populations in very different ways than any of our projects before. Yet at their core, each project is
responding to a need for the most essential base need for human health and dignity – an affordable, safe, and high-quality place to call home.
We love that we can take a forgotten or underused architectural gem and turn it into a community asset. It allows us to bring both reinvestment and beauty into our neighborhoods as well as hope, and security, to our tenants. We couldn’t do any of this work without you. Thank you for following us and supporting our work in 2023 and beyond!
Isabel Thornton Executive Director
We Couldn’t Have Done It Without You
What struck me immediately upon becoming familiar with Restoration Housing is the deep impact one person can have on our community. Isabel, and the amazing team she has built over time, saw a desperate need in the city she loves – in the city we love. They have been passionately addressing that need for the past 10 years. Pinnacle is proud to stand next to, and invest in, Restoration Housing as it brightens and strengthens our community one house – and one family – at a time.
Jonathan Richardson, Regional President Pinnacle Financial Partners
Individual Donors
Adam & Gretchen Alexander
George & Millie Anderson
Colin Arnold
Ellen & Robert Ashwell
Erin Ashwell & Michael J. Finney
Kathleen Baker
Mary Catherine & Duke Baldridge
Cynthia Barnhart
Vickie Barrow
Donna Batzel
Margaret & Luthur Beazley
Anne Beckett
Marie Beebe
Gretchen & Andy Beedle
Susan Beeler
Carol Bendl
Maureen Best
Vicki Bibee
Judy Bishop
NL Bishop
Ted Blain
Alison & Andrew Blanton
Jeanne Bollendorf & Ben Baird
Matthew Bolster
Alexander Boone
Ab & Julie Boxley
Betty Branch
Sara Brooks
Jen Brothers
Lisa Caldwell
Janaka & Kasturi Casper
Liz Chilton & Bryan Collier
Diana Christopulos
Rebecca Clark
Joe Cobb & James Matthews
Richard Cook
John Cornthwait
Michael & Maggie Cronise
Rupert Cutler & Brenda McDaniel
Sam & Jeannie Darby
Larry & Janice Davidson
Ben & Jill Davis
Larry & Stephanie Dickenson
Ruth Dickerson
Cheryl Dillon
Nancy & David Dixon
Ruth Doan
Hoye & John Duckworth
M. Frances Durden
Paul Economy & Randy Craver
Lauren & Whit Ellerman
Lucy & Frank Ellett
Bill & Diane Elliot
Whitney & Mark Feldmann
Judith & Leroy Ferguson
Robert Fetzer
Jane & Peter Field
Sibyl Fishburn
Broaddus & Luann Fitzpatrick
Louise Forsyth
Amanda Fortuna
Neal Frank-Rempel
Jan & Rand Garrett
Anna Goltz
Katrina Goode & Robert L. Skelton
Pamela Green
Will & Karli Griffeth
Katie & Price Gutshall
Ann & Bill Hackworth
Ali & Heather Hamed-Moore
Judith Harrison
Mary Harshfield
Paul Haskins
Helen & David Hill
Bob Hiltonsmith
Jon Bradley & Julie Ann Hodgson
Ernest Hoefner
Shirley Holland
Kitty Hopkins & Kai Yoshida
Nancy & Clint Hopkins
Bill & Ann Hopkins
Judy Hough
MsCaffys House
Hetty & Gunther Hoyt
Betts Jackson
Bonnie & Pegram Johnson
Kelly Jones
Alison Jorgensen
Kristy Joyce
Olivia Karavatakis
Andrew Kegley
Kathy and Tom Kerkering
Nathan & Angela Kerr
Billy Kingery
Pam & Tom Kirchner
Eleanor Kootsey
Brandon & Caroline LaCroix
Susan Larkin
Cynthia & Mark Lawrence
Anna & Tom Lawson
Armistead Lemon
Angie & Eddie Link
Donna Littlepage
George & Harmon Logan
Lauren Lumsden
Beverly Lyle
Varana Manning
Rosemary & William Maxwell
Sheryl & Ed McNally
Sharon Meador
Ann & Garth Mills Sr.
Maribeth & Garth Mills
Donna Mitchell
Stephanie Moon Reynolds
David Nova
Thomas Nasta
Michael & Sue Nussbaum
Molly O’Dell
Allison & Sam Oakey
Cyrus & Amber Pace
D. David Parr Jr.
Nancy Peake
James Pearman
David Peterson
JP & Shaleen Powell
Paula & Norman Prince
Harry & Rebecca Rhodes
Catherine & Tack Richardson
Jonathan Richardson
Amanda Robinson
Rehanna Rojiani
Bill & Beth Rutherfoord
June Rutherfoord
Tom & Jeannie Rutherfoord
Walton & Molly Rutherfoord
Virginia Savage
Andrew Scholz
Matt Sheffer
Susie Shullman
Kim & Kelsey Simcox
Joseph Smigiel
Jennifer Sosnowski
Sally Southard
Joanne & Bertram Spetzler
Ann Sprouse
Linda Steadman
Angela & Mark Stiefbold
Kathy & Bruce Stockburger
Mike & Carolyn Sullivan
Bruce & Julie Swanson
Virginia & Bill Sweet
Suzanne Thorniley
Isabel & Lucas Thornton
John & Linda Thornton
Jessi Tisinger
Carol & Lucas Tuning
Kim & Alan Turner
Rachel Vogeley
Molly & Seth Walters
Linda Webb
William & Nan Mahone Wellborn
Bart & Lynn Wilner
David & Mary Ann Wine
Don & Ellen Witt
Jeffrey Wood
Micah Woods
Lee Woody
Corporate Donors
ACE Hardware on Brambleton Allegheny Partners LLC Bank of Botetourt Black Dog Salvage Brown Edwards Carilion Clinic
Carter Bank & Trust
City of Roanoke Community
Resource Division
Community Foundation Serving
Western Virginia Community Housing Partners
Crystal Spring Grocery
Davis H. Elliot Company
Firefli
Foti, Flynn, Lowen & Co.
Freedom First Credit Union
Gladheart Wine & Brews
HistRe Partners LLC
Home Depot
James A. Scott & Son, Inc.
Lawrence Perry & Associates, Inc.
Lowes Home Improvement
Mast General Store
Member One Federal Credit Union
Pinnacle Financial Partners
Powell Charitable Foundation
Present Thyme
PressPressMerch
RGM Properties
Roanoke Friends Meeting
Roanoke Valley Preservation Foundation
Sam & Marion Golden Helping Hand
Foundation Inc.
The Beirne Carter Foundation
The Ken & Judith Joy Family Foundation
The Kroger Company
The Meridian Group – RBC Wealth
Management
The Robert H. and Doris Seay Trust
The Second Yard
Thornfield Farm
Total Action Against Poverty
Townside Gardens
TXTUR Living
Varsity Landscaping & Grounds
Virginia Housing Development Authority
Virginia Society of United States Daughters of 1812
Walkabout Outfitter
Wells Fargo Advisors
WyndRose Boutique
2023
A Year In Review
January
Restoration Housing presented a three-part installment of its Architectural Minute Series on the need to reintroduce Middle Housing to our neighborhoods.
April
The Villa Heights Stewardship Campaign launched ultimately raising $23,500 for the long-term preservation of this Roanoke landmark.
June
Restoration Housing was featured in Planetizen, a national urban planning publication, for their work restoring vacant Middle Housing.
February
Restoration Housing purchased 930 Stewart Avenue as their sixth rehabilitation project and second affordable, single-family rental opportunity.
May
Volunteers came together for the 8th Annual Community Partnership Day to spruce up the landscaping and playground area at Villa Heights.
August
Purchasing negotiations for Trinity United Methodist Church began with the goal of creating affordable senior housing in the 1922 Sunday School Building.
October
A ribbon cutting with local officials, partners, and staff celebrated the start of construction at 930 Stewart Avenue.
December
Trinity Commons was successfully rezoned from Institutional to Planned Unit Development permitting its adaptation to senior apartments.
December
Restoration Housing geared up for a busy 2024, marking 10 years of developing affordable housing though historic preservation.
July
Restoration Housing welcomed Jerry Duncan as Facilities Manager to help maintain an ever-growing inventory of properties.
September
Restoration Housing hosted its 5th Annual Preserve Luncheon and launched the Preserve Campaign championing the need for #HousingForAll.
November
530 Day received a new roof through a generous donation after the original had reached the end of its effective lifespan.
December
1729 Patterson Avenue was awarded $400,000 from Aetna/CVS Health, covering acquisition costs in their entirety.
930 Stewart Avenue
Under Construction! After years of vacancy, 930 Stewart Avenue is on its way to welcoming a family home in the Spring of 2024. The circa 1903 Folk Victorian home located in Southeast Roanoke was acquired by Restoration Housing in early 2023 after months of due diligence. While the property had been lovingly looked after by its previous owner, it was never updated and needs a complete overhaul to restore historic materials as well as incorporate modern interior systems and living amenities. This will be Restoration Housing’s fourth project in the Belmont Historic District and Belmont-Fallon Target Area.
In 2023
Restoration Housing began work on the 1,800 square foot property with Square One, Inc. and Jeff Wood Designs. Funding from the City of Roanoke, Carter Bank and Trust, the Roanoke Valley – Alleghany Regional Commission and Historic Tax Credit syndication account for a large portion of construction funding along with other local foundations and donor support. Once complete, it will be a single-family rental opportunity for a low-income family (50% of Area Median Income) featuring a new kitchen and bathrooms, in-unit laundry, and generous yard space.
Acquisition & Rehabilitation Budget
$113,000 from the City of Roanoke Community Development Block Grant Program
$126,676 from Historic Tax Credits
$10,000 from Sam and Marion Golden Helping Hand Foundation
$5,000 from Fundraising by Restoration Housing
$25,000 from Roanoke Valley-Alleghany Regional Commission’s Housing Development Program
$65,901.93 from TAP’s Land Bank
$50,000 from Carter Bank & Trust
* Project budgets are independent of Restoration Housing for tax credit compliance purposes
Trinity Commons
Pre-Development! Restoration Housing was contacted by Trinity United Methodist Church to discuss potential communityfocused, adaptive reuse options when the congregation remerged with Greene Memorial Methodist Church. Restostoration Housing accepted the challenge, exploring the feasibility of using the 1922 Sunday School Building Annex as fifteen affordable rental units for seniors while preserving the 1903 Worship Hall as gathering space and the 3rd Street Coffeehouse as-is. The end of 2023 saw Restoration Housing meeting with community members, obtaining a rezoning for the proposed use, and securing acquisition funding and pre-development costs to get the project off the ground. The pre-development phase will extend into mid2024 with construction beginning in the Fall of 2024 and anticipated to conclude in the late Fall of 2025.
The Grove on Patterson Avenue
Pre-Development! Since the closure of Bethany Hall in 2022, Restoration Housing’s Executive Director Isabel Thornton has been a part of a small group working to restore services to pregnant and postpartum women with substance use disorder. The group identified 1729 Patterson Avenue with Restoration Housing serving as property owner, developer, and landlord for the service provider, a new nonprofit named The Twelve Foundation. Restoration Housing proceeded with meeting members of the community, obtaining a rezoning for the proposed use, and identifying acquisition and pre-development funding sources. The predevelopment phase will extend into early 2024 with construction beginning in the Summer of 2024 and anticipated to conclude in the late Fall of 2024.
Financial Overview
Our organization began 2023 with our first acquisition funded by the City of Roanoke’s Land Bank, operated by TAP (Total Action for Progress), for 930 Stewart Avenue. It’s been a tremendous resource for our organization as acquisition is often the most difficult funding to find. From there we worked to finalize our grant applications and fundraising needs to perform the rehab at 930 Stewart Avenue, which began in October of 2023. The project’s hard costs of construction were fully subsidized thanks largely in part to funding opportunities that came from the Roanoke Valley Allegheny Regional Commission’s affordable housing fund and Carter Bank & Trust. We combined their support with Community Development Block Grant funding from the City of Roanoke’s HUD office, a resource that we have continuously used and rely on for our revitalization efforts.
In the Spring, we raised $23,500 for our Villa Heights Stewardship Fund in a proactive effort to ensure proper care for this two-hundred-year-old property. That
Summer, we also received a significant anonymous contribution that allowed our organization to purchase new computers, install a new standing seam metal roof for our property at 530 Day Avenue, and pay for initial feasibility costs for our new project, Trinity Commons.
We also worked to prepare for our two new projects in the pipeline and we were both surprised by and thankful for a large charitable gift from a local trust that began our fundraising efforts to purchase and restore a new facility for pregnant and postpartum women and their newborn infants. These fundraising efforts continue on into 2024 and we still have a ways to go…but it was an encouraging start that gave us confidence to move forward with the new project.
Looking back on 2023, there were unexpected funding opportunities for our rehab projects that were unbudgeted and allowed us to expand our services and programmatic work in ways that are truly remarkable. Yet our organization is still dependent on unrestricted donations that help us pay for our staff and operations. Finding resources to keep our lights on can often be one of the hardest parts of our (and any nonprofit’s) job. We feel so thankful to our donors, supporters, sponsors, and funders who all believe in our work and help us in that collective effort.
Board
Restoration Housing’s Board of Directors is comprised of a dedicated and passionate group of individuals from all across Roanoke’s various economic institutions. They not only share a commitment to affordable housing but also to the transformative effects of reducing blight and vacancy in our historic neighborhoods.
Controller & Vice President of Operations, Hist:Re Partners & Allegheny Partners
John Cornthwait
President & Chief Operating Officer, Firefli
Cynthia Lawrence
Director of the Office of Workforce Development, Carilion Clinic
Richard Hedley
Certified Public Accountant & Partner, Brown Edwards
Isabel Thornton
Executive Director, Restoration Housing, Ex-Officio Board Member
Shirley Holland
Vice President of Planning and Community Development, Carilion Clinic
Carol Tuning
Executive Director, Disability Rights and Resource Center
What’s Next
CELEBRATING TEN YEARS.
2024 promises to be an eventful year as we celebrate a #DecadeOfDifference developing affordable housing through historic preservation. We’ve been busy with the pre-development phase for both 1729 Patterson Avenue and Trinity Commons, as well as planning a special 10th Anniversary Celebration for supporters like you and other signature events and outreach initiatives.
Winter 2024
The Architectural Minute series will continue with three new installments focusing on the planning, preservation, and people that fulfill our mission-driven work. Pre-development work will continue for Trinity Commons and The Grove on Patterson Avenue.
Spring 2024
Restoration Housing will complete construction on 930 Stewart Avenue, a 1903 Folk Victorian home that will be an affordable singlefamily rental opportunity. Prior to completion, volunteers will beautify the landscaping on Community Partnership Day.
Summer 2024
Restoration Housing will host an anniversary celebration commemorating ten years of developing affordable housing through historic preservation. Construction on The Grove on Patterson Avenue will also commence to update the property to meet the building requirements of a residential treatment facility.
Fall 2024
The Preserve Campaign will return for its seventh year, telling the story of Restoration Housing through the lens of staff, tenants, our construction team, and community leaders. Construction on Trinity Commons will also begin.
FOR MORE INFORMATION on Restoration Housing, please contact Executive Director, Isabel Thornton.
