Two Virginia localities receive HUD support for improvements to low-income properties

Two Virginia localities have received financial support to renovate low-income households to be zero energy and resilient thanks to the U.S. Department of Housing and Urban Development and the Biden-Harris Administration.

Fredericksburg Affordable Housing Limited Partnership received $8.8 million and NHTC Piedmont Garrett Holding LLC in Charlottesville received $6 million, in surplus cash loans, part of a $103 million investment nationwide.

The Green and Resilient Retrofit Program, or GRRP, awards will support working families and modest income individuals by making upgrades that could otherwise be cost-prohibitive.

President Biden’s Inflation Reduction Act established the GRRP with more than $800 million in grant and loan subsidy funding to support up to $4 billion in loans.

All the investments under the GRRP will advance Biden’s  environmental justice agenda by serving low-income families in disadvantaged communities. These investments will directly benefit residents of HUD-assisted housing, each in a disadvantaged community, and will make their homes more resilient to weather events and enhance their ability to more quickly respond to and recover from such events.

Without this funding, HUD-assisted multifamily properties would not be able to make the same investments in greener, safer and healthier properties that other, market-rate multifamily properties are making today.

“The Green and Resilient Retrofit Program is more than just a program; it’s a beacon of hope for our communities,” said HUD Regional Administrator Matthew Heckles. “With GRRP, we’re not only improving the quality of housing for low-income families, but we’re also fortifying their homes against the harsh realities of our changing climate. This initiative brings together sustainability, resilience, and equity in one powerful program.”

Today’s investments will help combat the climate crisis, increase the supply of affordable housing and support equitable economic development in communities.

To date, HUD has awarded more than $121 million in grants and loans in the first two GRRP funding waves.