Who are these
John David McCormack, president of Waukeshaw Development, Inc., is leading revitalization and rehabilitation efforts in the Tri-Cities, and continues to advance projects in Southside and Western Virginia, and North Carolina. Current adaptive reuse and historic tax credit developments, in varying project stages, comprise more than 450,000 square feet and reflect a value of more than $70 Million.
Waukeshaw was a first-mover in the Tri-Cities area, in 2006 breaking ground on the first market-rate multi-family project in Petersburg, VA — a town in which traditional developers saw no potential. A combination of conventional bank financing and state and federal historic tax credits brought $26M to the project, yielding 220 apartments in what is now known as the Mayton Transfer Lofts. The success of that project opened the doors to further development, and Petersburg now boasts more than 1,200 new residential units downtown.
Waukeshaw seeks out interesting, game-changing projects in challenging locales, often working closely with municipalities to further their economic development efforts. To achieve these goals, Waukeshaw attracts traditional bank financing, seeks grants and other incentives, and works with a practiced team of architects, CPAs, and legal and historic consultants to syndicate state and federal historic tax credits.
Some of this stuff just seems impossible when you first take it in . . . but then, piece by piece, you start chipping away.