$11 Million in State Affordable Housing Funds Announced

News-Press photo

Virginia Gov. Ralph Northam held a press conference in Arlington Tuesday to announce more than $11 million in Affordable and Special Needs Housing loans for 17 projects throughout the Commonwealth, creating or preserving 1,283 affordable housing units that will target low-income and very low-income Virginians. The governor made his announcement at American Legion Post 139 in Arlington, the future site of the American Legion Uniting to Serve affordable housing project. For Northern Virginia, the funds include $700,000 for the American Legion project, $2 million for three Community Housing Partners projects and $700,000 for a Wesley Housing Development Corporation project in Fairfax County. The projects are focused on affordable new construction and rehabilitating housing projects as well as permanent supportive housing options for people with intellectual and developmental disabilities.

“My administration is working hard to find innovative ways to reduce homelessness, expand access to quality affordable housing, and address evictions in Virginia,” said Gov. Northam. “The Affordable Special Needs Housing program provides Virginia the necessary resources to transform our housing stock and help create vibrant, thriving communities for all Virginians, in every part of the Commonwealth.”

The Virginia Housing Trust Fund is a key source of financing for these affordable housing initiatives to support moderate- and low-income families. The governor and the General Assembly doubled the Virginia Housing Trust Fund in the recently completed budget cycle, providing an additional $5.5 million.