FOR IMMEDIATE RELEASE
Monday, November 17, 2025
CONTACT
Valerie Lee
vlee@locusimpact.org
Partnership with Locus, U.S. Bank Allows Appalachian Center for Hope to Bring Essential Recovery Services to Southwest Virginia
Locus allocated New Markets Tax Credits to enable U.S. Bank investment in substance use disorder recovery center in Marion, VA.
Marion, VA – Appalachian Center for Hope (ACH) has secured an $8 million New Markets Tax Credits (NMTC) allocation to finance the development of a trauma-informed residential treatment and recovery center in Marion, VA. The project brings critical services to an Appalachian community suffering from the crushing impact of substance use disorder.
Multiple community-driven organizations came together to make the investment in ACH possible. The NMTC allocation from Locus, a Virginia community development financial institution (CDFI), enabled a key investment from U.S. Bank to advance the project. ACH worked with Brian Wishneff & Associates (BW&A), a boutique tax credit consulting firm with a national footprint, to secure the $8 million NMTC allocation from Locus, as well as investment in the State and Federal Historic Tax Credits (HTC) generated by the project, resulting in an aggregate net benefit to ACH of nearly $3 million.
ACH is a nonprofit organization that emerged in response to results of a 2017 health assessment that showed above-average rates of drug overdose and neonatal abstinence syndrome in Smyth County and surrounding counties. Established in 2021, the organization is driven by community leaders with a shared goal of using a cross-sector approach to address substance use challenges in Smyth County and greater Southwest Virginia. Its mission is to provide and coordinate services to restore hope for people, families, and communities experiencing the devastating impact of substance use.
With the investment resulting from the NMTC allocation, ACH is renovating an historic building near downtown Marion to transform it into a trauma-informed residential treatment and recovery center. The nearly completed center will include 58 beds divided by two wings of the historic building. Clinically managed, low intensity services under ASAM level 3.1 will be provided on one wing, with level 3.5 higher intensity services on the other wing. The anticipated opening date for the facility is January 2026.
“The financing behind this project has allowed us to take an old building that was on the demolition list and repurpose it for a new life as a treatment center,” said ACH Board Chair, John Graham. “The renovated building now becomes a symbolic model for our mission: to help our neighbors struggling with substance use disorder to find new purpose, new life, and hope.”
“We applaud the mission-driven work of John Graham and the ACH team, and I’m grateful for the partnership with U.S. Bank that made this investment possible,” said Pravina Raghavan, President and CEO of Locus, which is based in Richmond and serves the entire Commonwealth. “ACH’s commitment to bringing hope and health to those navigating the tragic impact of substance use disorder will bring life-changing services and support to communities in Southwest Virginia.” Locus worked with Baker Tilly, an advisory tax and assurance firm and national NMTC consultant, to source and provide due diligence for the transaction.
“It is difficult to come up with a project more deserving of New Markets Tax Credits than the Appalachian Center for Hope.” said Adam Markwood, Managing Director at BW&A. “And ACH leadership had the forethought to also select a historic building, allowing them to leverage HTCs to secure over $2 million of net subsidy. It has been a privilege to help ACH access these tax credit incentives, especially in a time when such facilities are so badly needed for those suffering with addiction.”
“U.S. Bancorp Impact Finance is proud to be a tax equity investor in the Appalachian Center for Hope,” said Jennifer Westerbeck, Sr. Business Development Associate at U.S. Bancorp Impact Finance, the community development financing subsidiary of U.S. Bank. “This project is a great example of how our custom financing solutions help our clients restore historic buildings and strengthen communities.”
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About Appalachian Center for Hope
Appalachian Center for Hope, Inc. (ACH), a 501(c) 3 non-profit organization, has a mission to provide and coordinate services to restore hope for people, families, and communities experiencing the devastating impact of substance use in Smyth County, VA and beyond. ACH was founded in 2021 by a multi-sector collection of community leaders responding to the findings of community health needs assessments (conducted 2017-2018). ACH is governed by a Board of Directors who are informed by the ACH Working Group. The Working Group meets monthly to share ideas and learn about ongoing challenges and solutions in Smyth County and greater southwest Virginia.
About Locus
Locus (formerly Virginia Community Capital) is a $412 million nonprofit and parent organization for Locus Bank and Locus Impact Fund, which are certified community development financial institutions (CDFIs). Locus creates access to capital by developing community partnerships and innovative tools that tackle systemic challenges and advance promising opportunities. Locus provides lending, credit enhancement design and management, and capital ecosystem coordination services across the affordable housing, clean energy, food systems, and community health sectors. The organization has generated more than $4 billion in total impact since 2006. To learn more, visit locusimpact.org.
About Brian Wishneff & Associates
Brian Wishneff & Associates (BW&A) is a full-service real estate consulting and development firm that specializes in the finance and operations of tax credit enhanced development projects throughout the U.S. BW&A has served a myriad of clients over the last 30 years ranging from non-profit organizations to universities, business owners, housing authorities, municipalities, IDAs, for-profit developers, and many other entities in a variety of industry segments. Focusing most of our work on high-impact incentive programs such as Historic, New Market, Low-Income and Renewable Energy Tax Credits, BW&A has been able to secure over $950 million of equity for our clients since our inception.