More housing opportunities on the way for Virginians. Virginia’s Planning District Commissions (PDCs) have been awarded $40 million in grant money to create more affordable housing units.
Virginia Housing estimates that more than 1,800 affordable units will be developed by the end of the three-year grant program. The grants, along with state, private, federal and Virginia Housing financing, are supporting projects that are identified by the PDCs and their partners to address rental, homeowner and mixed-use housing needs in their respective regions. These include financing new affordable homeownership opportunities, renovating vacant and blighted properties, supporting the development of a regional housing trust fund and creating upper-story housing in downtown business districts.
“This partnership has elevated the topic of housing across Virginia and spurred more regional conversations aimed at addressing the need for new housing. We’re proud of the work that has come to life as a result of our investment–one that continues to further our mission of creating affordable, sustainable housing across the Commonwealth. We look forward to each project and the positive impact it will have on the families and communities involved,” said Chris Thompson, Director of Strategic Housing at Virginia Housing.
For more information about Virginia Housing and grants available, visit the website here.