Fourteen projects in Virginia have been awarded over $22 million in loans to develop affordable and special needs housing. These projects will create or maintain 877 housing units for low-income and extremely low-income families.
Unfortunately, no projects were funded in Staunton, Augusta County, or Waynesboro. However, three projects in Charlottesville received funding, including the Greater Charlottesville Habitat for Humanity and Piedmont Housing Alliance.
Governor Glenn Youngkin commented, “By boosting Virginia’s affordable housing, we are enhancing our economy and creating lasting opportunities through homeownership. Strategic investments in these projects help build a brighter future for all Virginians.”
The Virginia Department of Housing and Community Development manages these loans through a streamlined process combining state and federal resources. The funding comes from four main sources: the federal HOME Investment Partnerships Program, the National Housing Trust Fund, Housing Innovations in Energy Efficiency, and the Virginia Housing Trust Fund (VHTF).
The VHTF, provided by the General Assembly, supports housing construction that creates or preserves affordable units, lowers housing costs, and increases homeownership. It is a key source of financing for affordable housing projects and homelessness reduction.
Bryan Horn, Director of the Virginia Department of Housing and Community Development, said, “The ASNH program is essential for making affordable housing available to working families and vulnerable Virginians.”
Here are some of the funded projects:
- $2,945,398: Surber Development and Consulting LLC, Pleasant View, Shenandoah County
- $2,423,000: Community Housing Partners, North Fork Manor, Smyth County
- $2,400,000: Piedmont Housing Alliance, PSCC Apartments, Charlottesville
- $2,345,049: Green Street Housing, Jersey Park Apartments, Isle of Wight County
- $2,000,000: Lynx Ventures Inc., Oak Grove Apartments, Richmond
- $2,000,000: The Lawson Companies, Miller’s Rest Apartments III, Lynchburg
- $1,800,000: Woda Cooper Development, Bains Pointe, Portsmouth
- $1,200,000: Greater Charlottesville Habitat for Humanity, Flint Hill Project A, Charlottesville
- $1,200,000: Greater Charlottesville Habitat for Humanity, Flint Hill Project B, Charlottesville
- $1,025,000: The Lawson Companies, 700 West 44, Richmond
- $936,225: Habitat for Humanity of New River Valley, Airport Road Townhomes, Montgomery County
- $850,000: Restoration Housing, Trinity Commons, Roanoke
- $800,000: Community Housing Partners, Legacy on Main, Montgomery County
- $139,765: Virginia Supportive Housing, Gosnold II Apartments, Norfolk
The Affordable and Special Needs Housing (ASNH) loans are awarded through a competitive process. This round saw 55 applications requesting over $112 million.
For more details about the ASNH program, visit www.dhcd.virginia.gov/asnh