VIRGINIA – A record-breaking $154.5 million in Affordable and Special Needs Housing loans will support nearly 50 projects across the Commonwealth, Governor Glenn Youngkin announced.
These loans will help create more than 3,000 homes for low-income households and mark the largest single investment ever made in Virginia’s Affordable and Special Needs Housing Program.
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The funding adds to $975 million secured from public and private sources, bringing the total investment in affordable housing construction throughout the state to $1.1 billion.
Of the projects included, here’s a look at ones in our region:
- The NHP Foundation - Danville House: $5,000,000
- Community Housing Partners - Hunt Ridge Apartments - Lexington City: $4,134,600
- The Lawson Companies - 8091 Williamson Apartments - Roanoke County: $4,000,000
- People Incorporated Housing Group - Pulaski Village II - Pulaski County: $2,892,357
- New River Community Action, Inc. - The 212 Project - Radford City: $2,155,842
“These loans leverage a total of $1.1 billion to provide accessible and affordable housing for all Virginians. This is a cornerstone for the prosperity of our Commonwealth,” said Governor Glenn Youngkin. “By prioritizing housing, we strengthen our economy, reinforce our communities, and build a stronger, more vibrant Virginia for generations to come.”
Affordable and Special Needs Housing loans are awarded through a competitive process. Ninety-one applications were received, requesting more than $243 million. To learn more about the ASNH program, visit www.dhcd.virginia.gov/asnh.
Funding comes from four main sources:
- The federal HOME Investment Partnerships Program
- The federal National Housing Trust Fund
- Housing Innovations in Energy Efficiency
- The Virginia Housing Trust Fund