The Aaron Mills Apartments is a new community of affordable housing in a historically industrial area of downtown Martinsville, Virginia. The development will serve elderly individuals, aged 55 and up, making 60% of the Area Median Income or below.

Originally constructed in 1890 as a bustling hotel, the Fairfax Hall building in Waynesboro, VA has seen many transformations and held many different faces. The structure operated until the early 1900's as the Brandon Hotel and was later used as a music institute, Brandon Hall, until it eventually converted into a junior college for girls. Today, thanks to the support and assistance from the city of Waynesboro, local public entities, and VCDC, Fairfax Hall has been transformed and updated into 54 high-quality affordable homes for senior citizens.

Nestled in West Virginia’s serene Monongahela Forest of the Appalachian Mountains, the Tygart Hotel shines as a treasured community staple in the City of Elkins, WV. In March, the new-and-improved Tygart Hotel opened to an outpouring of support and excitement from Elkins residents, state and local legislators, visitors, and more. After 8 years of planning and development, the Tygart Hotel now brings 56 boutique hotel rooms and 57 vital jobs to Elkins.

March 2024 – Townhomes at Liberty Place is a new affordable apartment community in the City of Richmond, VA, that creates 40 townhomes for low-income families and households. The multifamily development features 34 three-bedroom units and six one-bedroom units across 10 buildings on a six-acre site. All units at Townhomes at Liberty Place are designed for households making 40%, 50%, and 60% of the Area Median Income, addressing the need for more affordable homes accessible to nearby services in the City of Richmond.

Our longstanding partnership with People Incorporated of Virginia (People Inc.) has resulted in significant achievements in providing affordable housing in areas across Southwest Virginia and the northern Shenandoah Valley. To date we have provided technical assistance and financing support leading to the development of 23 People Inc. communities that serve historically disinvested neighborhoods throughout the region, with VCDC and affiliates investing in over $52.5 million.  Luray Meadows and Culpepper Crossing are two communities from this partnership that have made a positive impact in Page and Culpepper Counties.  

October 2023 — Horner Run Apartments is a new community that will create 49 affordable housing apartments designed for low-income families in the County of Chesterfield, Virginia. The site consists of one three-story building with a unit mix of 6 one-bedroom, 31 two-bedroom and 12 three-bedroom units.

Orcutt Townhomes I is a redeveloped community that will offer 40 fully redesigned and refurbished homes for families making 40%, 50% and 60% of the Area Median Income in Newport News, Virginia. With a poverty rate of 16.9%, which is over 6% higher than the state average (US Census), the City of Newport News has a high need for high-quality, affordable housing, and Orcutt Townhomes is leading the way to achieving better homes for families who need them the most.

The federal government has awarded VCDC’s Virginia Community Development Fund (VCDF) $4 million from the Treasury Department’s Capital Magnet Fund (CMF). The grant will finance high quality affordable rental housing in communities across VA and WV where developers are hard-pressed to get financing from traditional sources.

Just three years after the initiation of the Low-Income Housing Tax Credit (LIHTC) program in Virginia, VCDC made its inaugural investment of over $1 million in LIHTC equity to establish Monticello Vista Apartments, providing homes for seniors and families in Charlottesville, VA. Monticello Vista comprises 50 affordable apartment homes designed with convenient accessibility features and amenities. 

Grayson Manor is a newly renovated apartment complex in Independence, Virginia, creating affordable living opportunities for seniors and low-income individuals with disabilities in the Southwest Virginia region.

As a part of our mission to create vibrant homes in thriving neighborhoods for all, we are committed to working with our partners create homes that individuals with disabilities are proud to live in. Over the years, we have worked with partners to help create 19 communities that prioritize accessibility and comfort for individuals with disabilities in need of affordable housing.

VCDC’s lending affiliate, Virginia Community Development Fund (VCDF) announced this week that it received a $25,000 grant from the Community Foundation for a Greater Richmond to expand its Technical Assistance (TA) Program. The TA Program offers a range of technical support, consultant services, educational resources, and professional development opportunities to meet the unique individual needs of VCDF partners, empowering them to strengthen their organizations, enhance their understanding of development processes, and build capacity to play a leading role in developing sustainable, vibrant communities.

Holly Court Apartments is a community in Kilmarnock, Virginia with 40 affordable homes dedicated to senior citizens. Holly Court will be renovated to improve individual apartments homes, building facilities, a community room, and more. The community will offer a range of engaging perks for residents, including outdoor picnic areas, a large community space, and routine social and recreational activities such as holiday parties and bingo nights. Holly Court also offers residents skill-building, healthy living, and self-sufficiency programs to support residents. New renovations will prioritize energy efficiency and resident comfort with modern amenities.

Studio Two Three is a forward-thinking nonprofit art studio in Richmond, VA with a mission to empower artists to create civic change and community engagement through art. After 13 years of growth, Studio Two Three decided to explore the opportunity of purchasing a permanent home for their high-performing studio. Our lending affiliate, VCDF, helped Studio Two Three receive an $800,000 loan so the organization can make an impact in their forever home.

We are delighted to announce the six organizations joining Mission Elevation for the 2023-2024 program cycle. The Mission Elevation program has been creating professional growth opportunities for community development nonprofit and quasi-governmental organization leaders since its inception in 2017.

This February, the housing community lost Karl Bren, an instrumental leader who changed the landscape of affordable and sustainable housing across Virginia. Since the 1990’s, Karl was a key player in the creation of several nonprofit organizations and groups focused on affordable housing, homelessness services, and green building.

Wellesley Commons Apartments is an affordable apartment community in Newport News, VA, with 40 high-quality homes dedicated to seniors. Upon closing in March 2023, the apartment complex will undergo extensive renovations to improve facilities and systems that emphasize resident comfort and energy efficiency. With these new renovations, Wellesley Commons Apartments will better serve low-income individuals in the Hampton Roads area with high-quality homes and an all-embracing community where senior citizens can happily age in place.

The Vern Henley Special Initiative Grant gives VCDC partners and potential partners the ability to apply for grants to be used for special initiatives and programs for those residing in affordable housing in our service area.

Allison Bogdanovic is the Executive Director of Virginia Supportive Housing, Virginia’s first and largest nonprofit organization that develops and manages permanent supportive housing for homeless adults. She’s seen a lot of change and growth during her time at the organization, and joining the first cohort of Mission Elevation in 2016 did more than just boost and amplify that growth – it helped her learn how to face uneasy challenges and reframe VSH’s mindset to make a bigger impact in the communities they serve.