The mission of the affordable housing opportunity fund is to improve the lives of thousands of Charlottesville residents by providing funding and expertise to rebuild homes and neighborhoods.
Established by Red Light Management, Dave Matthews Band, and several other volunteer partners, the fund is working hand in hand with the Charlottesville Redevelopment and Housing Authority, the residents of CRHA properties, and the Public Housing Association of Residents to create a resident-led process that will provide modern and safe homes paired with a holistic approach to include supportive services such as early childhood development centers, health clinics, and training and employment opportunities.
“This donation is made possible by the work of every employee at Apex and reflects our shared commitment to creating inclusive and sustainable communities, especially here at home,” said Mark Goodwin, Apex Clean Energy president and CEO, in a news release. “Investing in the redevelopment of affordable housing is the most impactful way we can help create a stronger future for generations of Charlottesville residents who have often been marginalized and divested from our community.”
Donations to the affordable housing opportunity fund will ultimately result in more than $200 million worth of new housing development in Charlottesville, leveraging federal tax credits and funding from state and local government agencies.
“Apex has stepped up to help address one of the most significant issues facing the health and vitality of the Charlottesville community,” said Ann Kingston, director of the affordable housing opportunity fund. “Alongside the initial $5 million catalyzing gift from Dave Matthews Band and Red Light Management, and furthered by generous local philanthropists, we have raised nearly $22 million toward a goal of $30 million.”
All construction will take place on land owned by the CRHA. The first project to be completed in the multi-phase process is the comprehensive renovation of Crescent Halls on Monticello Avenue, which expects to welcome its first residents later this year and be at full occupancy in 2023.
The construction of 62 new units on 1st Street South is also nearly complete, with a second phase at that location expected to break ground in the new year.
Apex Clean Energy was founded with a singular focus: to accelerate the shift to clean energy. For more information about Apex, visit apexcleanenergy.com
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Crystal Graham
