Money will help banks and charities provide affordable housing
ROCKBRIDGE CO. (WSLS 10) - The effort to build or improve local housing for low to middle-income families receives a major financial boost.
Local banks and charities will receive nearly $7 million dollars from the Federal Home Loan Bank of Atlanta through its affordable housing program.
This will allow low to no-interest loans or grants to be given to worthy housing projects that will better the lives of families as well as communities.
Finding quality affordable housing can be a struggle for families on fixed incomes.
"Everybody struggles at some point in their life," said Kristin Gentry, a property manager at The Village at Rockbridge.
It's a challenge Gentry is no stranger to.
"At one point I struggled, I'm a single mom," Gentry said.
Now she's helping other families find good homes there in Lexington.
Home for up to 64 families in Lexington, the Village at Rockbridge is getting a major upgrade thanks to the affordable housing program that was able to help fund projects like that one.
This is the first major renovation there since it was built in 1978.
"I think with the renovations, the current tenants and the new applicants will be proud to call this place home," Gentry said.
Now with new kitchens, flooring, appliances and added amenities like laundry services - it's a more comfortable place while families build for the future.
"It's kind of a stepping stone to help them get to where they want to be. Most of these people that live here, their ultimate goal is to have a house of their own, and this affords them that opportunity to get there," Gentry said.
Habitat for Humanity, both in Lynchburg and in Roanoke, are also recipients.
"It's perfectly aligned with what we do," said Jenny Lee, Development Director at Habitat for Humanity.
The money will help build 11 new homes and renovate nine others.
"These funds will basically pass through us and go to the homeowners as down payment assistance. It's a five-year forgivable note," Lee said.
Proving a better life not only for people who live here, but the community.
"Stable families, mean stable neighborhoods and stable communities. So all of us really benefit," Lee said.
Sun Valley Landings both in Dublin and in Radford will also benefit from the program.
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