Virginia announces $8.9 million in affordable, special needs housing loans

virginiaThe Commonwealth of Virginia has announced more than $8.9 million in Affordable and Special Needs Housing loans for 14 projects throughout the Commonwealth.

These projects are focused on affordable new construction and rehabilitation housing projects, as well as permanent supportive housing options for people with intellectual and developmental disabilities.

Affordable and Special Needs Housing loans are awarded through a competitive process. The Virginia Housing Trust Fund is a key source of financing for these affordable housing initiatives to support moderate- and low-income families. The Governor’s proposed budget includes an additional $19 million for the Virginia Housing Trust Fund over the next two years to bolster the state’s commitment to increase affordable housing for low- and very-low-income persons.

The Virginia Department of Housing and Community Development (DHCD) administers the Affordable and Special Needs Housing program and combines state and federal resources to ensure a simplified application process. Funding comes from three main sources: the federal HOME Investment Partnerships Program, the federal National Housing Trust Fund (NHTF) and the Virginia Housing Trust Fund.

“The Affordable and Special Needs Housing program fills gaps in financing to make possible the creation and preservation of affordable housing for low-income Virginians,”said Secretary of Commerce and Trade Brian Ball. “Virginia continues to put affordable housing at the forefront of its efforts to create a stronger Commonwealth for all.”

Seventeen applications were received, requesting more than $14.7 million. These proposals were reviewed, evaluated, and scored, with proposals ranked and award offers recommended to the highest-ranking proposals based on funding availability. The funded projects will create or preserve 730 affordable housing units, targeting low-income and very low-income Virginians.

Fall 2018 Affordable and Special Needs Housing Awardees

OrganizationProject NameAmountProject Location
AHC Inc.The Spire $1,120,000City of Alexandria
Arlington Partnership for Affordable HousingQueens Court $700,000Arlington County
Bay HousingDaffodil Gardens Phase Two $325,000Gloucester County
Central Valley Habitat for Humanity Inc.Central Valley Affordable Housing$500,000City of Harrisonburg
Community Housing PartnersApartments at Kingsridge 2$800,000Henrico County
Community Housing PartnersResidences at North Hill Bond 94$700,000Fairfax County
Community Housing PartnersResidences at North Hill Bond 47$700,000Fairfax County
Culpepper Community Development CorporationChandler Street Properties – Permanent Supportive Housing$180,607Culpeper County
Greater Fredericksburg Habitat for Humanity Inc.Canterbury Subdivision Phase I South Street$500,000City of Fredericksburg
Hopewell Redevelopment and Housing AuthorityPipers Square Apartments$500,000City of Hopewell
People Inc.Culpeper Crossing$700,000Culpeper County
People Inc.Millview Apartments$700,000Fauquier County
REBJ INC.Ashburn Chase$800,000Loudoun County
The Community BuildersChurch Hill North Phase 2 Family$700,000City of Richmond
TOTAL $8,925,607 


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