Additional funding for projects provided through doubling of Virginia Housing Trust Fund

RICHMOND—Governor Ralph Northam today announced 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 this announcement during an event at American Legion Post 139 in Arlington, the future site of the American Legion Uniting to Serve affordable housing project. These projects are focused on affordable new construction and rehabilitation 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 Governor 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.”

Affordable and Special Needs Housing (ASNH) loans are awarded through a competitive process. 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 this recently completed budget cycle, providing an additional $5.5 million and bolstering the state’s commitment to increase affordable housing for low- and very-low-income persons.

The Virginia Department of Housing and Community Development (DHCD) administers the Affordable and Special Needs Housing program and combines state and federal resources to ensure a simplified application process. Funding comes from three main sources: the federal HOME Investment Partnerships Program, the federal National Housing Trust Fund (NHTF), and the Virginia Housing Trust Fund. Through the ASNH program, DHCD also supports the creation of Permanent Supportive Housing units to serve Virginia’s most vulnerable citizens. 

“We must continue to increase the supply of affordable housing throughout Virginia,” said Secretary of Commerce and Trade Brian Ball. “Through this program, we are providing the necessary financing to preserve and create safe and sustainable housing for many low- to moderate-income Virginians.”

Twenty-nine applications were received requesting more than $21 million. These proposals were reviewed, evaluated and scored, with award offers recommended to the highest-ranking proposals based on funding availability. The funded projects will leverage over $250 million in additional federal, state, local, and private lending resources. Six additional projects were able to receive funding with the increase in the Virginia Housing Trust Fund.

2019 Spring Affordable and Special Needs Housing Awardees:

**HOME = Federal Funding

    VHTF = Virginia Housing Trust Fund

    PSH = Permanent Supportive Housing