Affordable and special needs housing got a boost through more than $27 million in loans for 34 projects across the Commonwealth. Two projects in Staunton received funding.
The first apartments opened in 2007. Valley Supportive Housing which now has 38 affordable supportive apartments.
The VHTF is coordinated through the state Department of Housing and Community Development. In the current fiscal year, more than $55 million was invested into it by the General Assembly, and Northam has proposed upping that to $70.7 million.
It is designed to finance affordable-housing initiatives supporting low- and moderate-income families, and homeless-reduction grants.
The process for obtaining VHTF financing is competitive. According to Northam s office, 43 applications were received for this round of funding.
Funding was also granted to programs in Petersburg, Richmond, Newport News and Northern Virginia, among others.
Governor Northam Announces Over $24 Million in Affordable and Special Needs Housing Loans
Posted by Staff | Mar 2, 2021 | News | |
RICHMOND Governor Ralph Northam today announced more than $24 million in Affordable and Special Needs Housing loans for 28 projects across the Commonwealth, creating or preserving 1,635 affordable housing units for low-income Virginians. The funding will help increase access to affordable housing, reduce homelessness, and provide permanent supportive housing options for individuals with intellectual and developmental disabilities.
“As the COVID-19 pandemic continues to create housing challenges in our Commonwealth and across the country, we are pleased to deploy this funding to support Virginians who are most in need,” said Governor Northam. “The Affordable Special Needs Housing program is a valuable resource for increasing the availability of safe, affordable, and sustainable housing for low-income Virginians, particularly those with spec