FOR IMMEDIATE RELEASE
CONTACT: Adrian Robinett
RICHMOND, VA- In 2021, Virginia Housing awarded a $40 million grant program to Virginia’s 21 Planning District Commissions (PDCs) to stimulate regional affordable housing initiatives. To date, the funds together with their respective PDCs have brought over 250 apartments and single-family homes to communities in Virginia, with many more on the way.
PDCs have collaborated with community partners and other stakeholders to develop and implement regional approaches to housing development in order to create new affordable homes. 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.
“We are thankful for Virginia Housing’s generous support for much-needed affordable units and for entrusting PDCs to spearhead collaborative efforts with regional and local organizations to help meet critical housing needs,” said Lou Ann Wallace, president of the Virginia Association of Planning District Commissions. “PDCs are doing what they do best—bringing stakeholders together to address challenges that reach across local borders.”
Projects funded in Martinsville-Henry County include:
- $250,000 to Landmark Asset Services, LLC — Aaron Mills Apartments in the City of Martinsville. This grant will help provide 12 project-based vouchers for needy seniors as part of a 52-unit apartment complex for seniors.
- $350,000 to the City of Martinsville — Construction of two single-family modular units in the City of Martinsville
By investing in the power of home, Virginia Housing transforms where and how thousands of Virginians live and thrive, strengthening communities and the economy. Founded in 1972 as the Virginia Housing Development Authority (VHDA), Virginia Housing is celebrating its 50th year of working in partnership with the public and private sectors to help Virginians attain quality, affordable housing. While receiving no state taxpayer dollars, Virginia Housing raises money in capital markets to provide mortgages to first-time homebuyers, financing for rental developments and neighborhood revitalization efforts. Virginia Housing invests in innovations in affordable housing, and makes homes for people with disabilities and older Virginians more livable.