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The Dave Matthews Band performs May 7, 2016, at the John Paul Jones Arena in Charlottesville.

Part of the proceeds from the Dave Matthews Band’s hometown shows on Dec. 14 and 15 at John Paul Jones Arena will be included in a $5 million donation to support redevelopment of public housing in Charlottesville.

The band, Matthews himself and Red Light Management will donate the funds toward the renovation and/or replacement of all of the city’s public housing and the construction of additional affordable housing on underutilized land, the band announced Thursday morning.

The first phase of the project will include a complete renovation of Crescent Halls, which houses elderly and disabled low-income residents, and construction of brand-new units on South First Street.

“The band’s contribution will serve as a catalyzing major gift in the ongoing fundraising campaign for the resident-led, multi-phased project,” according to the band’s news release.

The project is in partnership with Charlottesville Redevelopment and Housing Authority, the Public Housing Association of Residents, Red Light Management, Riverbend Development, Castle Development Partners and Virginia Community Development Corporation. All are serving on a volunteer basis.

CRHA presented its plans for the three-phase project at a work session with City Council on Monday.

Phase one of construction is estimated to cost $65.5 million and require more than $15.7 million in local government or philanthropic support.

“The City of Charlottesville is delighted with the news,” Interim City Manager Mike Murphy wrote in an email on Thursday. “Affordable Housing is a pressing need in the City. … This gift will greatly assist with the tremendous funding challenge before us as a City and community.”

Phase one calls for a three-phase renovation of the 105 units at Crescent Halls. It would include 98 one-bedroom and seven two-bedroom apartments.

The $14.2 million renovation would take 12 to 18 months to complete. The housing authority would need $3.5 million to $7.6 million in local government and philanthropic support.

Phase one also includes construction of 80 units on South First Street and about 48 units on Levy Avenue, both on vacant lots. Site plan review for South First Street is expected to start this month.

South First Street would include 35 one-bedroom, 20 two-bedroom, six three-bedroom, six four-bedroom and 13 five-bedroom units.

Construction would cost $12.7 million and require $364,000 to $4.8 million in local support. Levy Avenue would cost $7.8 million and require as much as $3.3 million locally.

Phase one construction is expected to start in late 2019 and could finish by late 2020 or early 2021.

Phase one also will include work at the South First Street complex, where 58 existing units would be redeveloped and 142 units would be added, at a cost of $30.8 million.

On Monday, Murphy said the draft Capital Improvement Program should be able to cover the first phase of construction — other than new buildings on South First Street — and the first phase of redevelopment at Friendship Court.

The Grammy Award-winning band plans to close its new 10-city arena tour, which opens Thursday evening in New York’s Madison Square Garden, with the two John Paul Jones Arena shows.

Setlists will include a wide range of songs, including material from “Come Tomorrow,” which came out in June. With the album’s release, the band became the first group in history to have seven consecutive studio albums debut at No. 1 on the Billboard 200 chart.

For tickets, go to ticketmaster.com.

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