For Immediate Release: May 4, 2017
Contacts: Office of the Governor: Heather Fluit, Heather.Fluit@governor.virginia.gov | Virginia Department of Housing and Community Development, Barbara Dodd, (804) 371-7006, barb.dodd@dhcd.virginia.gov

Governor McAuliffe Announces More Than $8.4 million in Affordable and Special Needs Housing Loans

~15 projects leverage state and federal funding to support new, affordable housing options~

 

RICHMOND – Governor Terry McAuliffe today announced more than $8.4 million in Affordable and Special Needs Housing loans for 15 projects in 13 localities across the Commonwealth.  These projects will create or maintain nearly 570 affordable housing units. They are focused on affordable new construction and rehabilitation housing options as well as permanent supportive housing options for people with intellectual and developmental disabilities.

“This $8.4 million announcement marks another important step toward ensuring that more Virginians have safe, affordable housing options here in the Commonwealth,” said Governor McAuliffe.  “By focusing on the development and preservation of affordable housing, we are strengthening the foundation of our new Virginia economy and giving Virginians the tools they need to access opportunity.”

Using a streamlined and competitive application process at the Virginia Department of Housing and Community Development (DHCD), qualifying applicants are eligible to receive funding through the HOME Investment Partnership Program (HOME), National Housing Trust Fund (NHTF), and the Virginia Housing Trust Fund (VHTF).  DHCD allocated more than $3.3 million in VHTF loans, nearly $2.9 million in NHTF, more than $1.7 million in HOME funding, and $500,000 in Permanent Supportive Housing funding for this round.

“The Affordable and Special Needs Housing program is an important resource for Virginia to create and preserve affordable housing units within the Commonwealth,” said Secretary of Commerce and Trade Todd Haymore.  “By leveraging both state and federal funding streams, this program provides vital financing assistance to projects that will meet local affordable housing needs and support state housing policy.”

The VHTF provides loans that reduce the cost of affordable rental housing and homeownership. Since its creation in 2013, Virginia has almost doubled its annual investment in affordable housing initiatives to support moderate and low-income families.

The HOME Program and NHTF, funded by the U.S. Department of Housing and Urban Development (HUD), provides annual block grants to states.  Both federal programs are administered in the Commonwealth by DHCD. The NHTF is a new program, with its first allocation beginning with the 2016 – 2017 program year, to support the creation and preservation of affordable housing for extremely low-income households, which are at or below 30 percent of the area median income. 

Thirty-four applications were submitted requesting just over $27 million. These proposals were reviewed, evaluated, and scored, with proposals then ranked and award offers recommended to the highest ranking proposals based on funding availability.

2016-17 Affordable and Special Needs Housing Awards:

Organization

Project Name

Amount

Location

Arlington Partnership for Affordable Housing

Gilliam Place East

$700,000

Arlington

Community Housing Partners

Lindsay Hill Apartments

$512,398

Lorton

Community Housing Partners

Tranquility at the Lakes

$500,000

VA Beach

Community Housing, Inc.

Jackson Ward Mixed Income

$700,000

Richmond

Helping Overcome Poverty's Existence, Inc.

HOPE MRCSB Group Homes

$371,975

Wytheville

Community Housing, Inc.

Baker School Apartments

$527,627

Richmond

Pathway Homes, Inc.

2017 Pathway Homes Permanent Supportive Housing Program

$500,000

Fairfax

People Incorporated Housing Group

Pennington Gap Apartments

$700,000

Lee County

People Incorporated Housing Group

Essex Manor Apartments

$700,000

Tappahannock

Hope Community Builders

Covenant Heights - Phase V

$314,314

Harrisonburg

Virginia Supportive Housing

New Clay House II

$800,000

Richmond

Rush Lifetime Homes, Inc.

Old Forest Village

$475,847

Lynchburg

REBJ, Inc.

Crewe Village Apartments

$500,000

Crewe

Second Act Communities SM

Cypress Landing

$400,000

Chesapeake

REBJ, Inc.

Weaver Manor Apartments

$700,000

Emporia

TOTAL

 

$8,402,161

 

 

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