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�����Ƶ�This project took over six years,�����Ƶ� said Nikki Thomas, president of Cornerstone Community Development Corp., which owns the building. �����Ƶ�We are very excited to finally announce the groundbreaking for this transformational project.�����Ƶ�

show that between 2010 and 2021, the age 65-and-over population increased 20% in Cabell County and 25% across West Virginia, making seniors the Mountain State�����Ƶ�s largest and fastest-growing age group. estimates that in West Virginia, only 61 affordable homes exist for every 100 extremely low-income renters and nearly a quarter (24%) of low-income renters are seniors at or below the poverty level.

�����Ƶ�We saw the need and stepped up to the plate to fill that need,�����Ƶ� Thomas said.

Don Mazza, vice president and chief Medicare officer of CVS/Aetna, said in a telephone interview that having an impact on Cabell County seniors and the state is one of the reasons CVS Health has invested $17 million in the project.

�����Ƶ�This investment fits in and ties in nicely with our history of investments in West Virginia,�����Ƶ� he said. �����Ƶ�We serve over 270,000 residents with our Medicare and Medicaid programs, with a big portion of that being in southern West Virginia, so this aligns with our commitment.�����Ƶ�

Since 1998, the company has committed nearly $21 million in affordable housing investments across West Virginia, Mazza said.

Winterwood Inc. will be the project developer and Cornerstone will remain the nonprofit partner and owner of the building, according to Thomas.

�����Ƶ�It took going through lots of potential partners to get to that perfect partner with Winterwood,�����Ƶ� Thomas said.

In November 2022, the Huntington City Council approved a resolution committing dollars from the Cabell-Huntington-Wayne Home Investment Trust Fund for the Prichard Hotel building renovation. The month before in October 2022, the City Council accepted a $2.5 million grant from the West Virginia Department for Economic Development. The $2.5 million grant will go toward renovations on the first two floors.

Prichard�����Ƶ�s first two floors will include a community health clinic managed by Marshall Health Network, providing residents on-site health care and wellness services.

In addition to the $800,000 of funds recommended from the resolution, other funding sources for the project include federal and West Virginia historic tax credits, low income housing tax credits and West Virginia Housing Development Funds, according to Thomas.

The funding sources also include the West Virginia Housing Development Fund, which adopted a bond-authorizing resolution to approve the issuance of up to $27 million to assist in the restoration.

�����Ƶ�The project includes funding from multiple sources, local, state and federal,�����Ƶ� Thomas said. �����Ƶ�It was important for us to put a creative capital stack that included historic tax credits as well.�����Ƶ�

Huntington Mayor Steve Williams said the project accomplishes many goals.

�����Ƶ�It will give much-needed affordable housing and health care services to our senior citizens, it renovates a historic tall building in downtown Huntington that was once considered a liability, and it continues the momentum of development in our downtown,�����Ƶ� he said. �����Ƶ�With major investments in Pullman Square, the Innovation Hub along 4th Avenue and the Prichard project, I see a triangulation of development in the area that will lift the entire downtown and be a catalyst for additional development and investments.�����Ƶ�

Located at 611 9th St. in Huntington, the building was built by real estate developer Fred C. Prichard and managed by veteran hotel man A.E. Kelley. The 13-floor, 120,000-square-foot building opened in 1926 as the Prichard Hotel, offering 300 rooms and glamorous décor.

The hotel operations ended in 1970, at which time it was converted into an apartment building with retail space on the ground floor. The building is listed on the National Register of Historic Places and is one of Huntington�����Ƶ�s tallest buildings.