2022 Year-in-Review

Partner Resources

Dec 19

We worked with our investment partners to raise over $68.3 million dollars to create and preserve affordable housing through VCDC Equity Fund 26, our largest equity fund to date.
We worked with our development partners to make a forecasted $88.7 million dollars in equity investments that support the preservation of or creation of 720 homes in 12 communities in Virginia and West Virginia.
321 families and households moved in to safe, affordable homes in 2022 thanks in part to our equity investments.
Equity Invested and number of homes preserved or created are based on project closing dates and families and households are based on first year lease-ups throughout the year.

Our Development Team advised and guided a record number of developers this year, helping over 90% of our partners receive Low-Income Housing Tax Credit (LITHC) allocations from Virginia Housing.
Our Asset Management Team visited 107 communities collaborating with property managers to protect the long-term vitality of neighborhoods in our portfolio.
Our Mission Elevation Class of 2022, made up of 5 housing and community impact oriented nonprofit organizations, celebrated the culmination of their time in the year-long program in June 2022. Organizations include HOME of VA, REACH in Roanoke, SERCAP, VCDF and Virginia Housing Alliance. We also began recruitment for nonprofits to join cohort 6 of the program, are you a nonprofit or know of one that could use a boost to enhance your mission impact? Learn more here: Drive change in your nonprofit with this unique program — VCDC (vibrantcommunities.us).

Virginia Housing Alliance named VCDC their 2022 Housing Champion. The Housing Champion award "... recognizes individuals or organizations whose philanthropic achievements have made a significant impact in housing or homeless-services advocacy and/or education work throughout the Commonwealth and whose generosity inspires others to philanthropic action."
Virginia Community Development Fund (VCDF), VCDC’s affiliate, increased its lending capacity by 39.5% since 2021. In addition, $14.1 million dollars of New Market Tax Credit investments were placed by VCDF in 2022.

3 New Board Members:
- Jason Earl Long - EVP & CFO, C&F Financial Corporation
- Jonathan Knopf – Vice President, HDAdvisors
- Manju Ganeriwala – Virginia State Treasurer, Retired

Watch this video to hear from our partners about how we have helped them serve thriving communities for over 30 years.

We partnered with Piedmont Housing Alliance and NHT Communities to assist with the redevelopment of Friendship Court in Charlottesville, Virginia, which began construction this year. The development will bring 106 new affordable homes to Charlottesville residents. Read our story about Friendship Court here.
Gearing up for our next cohort of the Mission Elevation program, we talked to two alumni about their experience with the program and how it helped them increase their organizations’ capacity and sustainability. Read Hope Cupit’s story about how Mission Elevation helped SERCAP, and Beth Vann-Turnbull's story about how the program helped Housing Families First.
We reflected on some of the earlier properties in our portfolio, which have served residents in need of affordable housing for decades. Read the story about Stonebriar Apartments, one of our properties in St. Paul, Virginia, which has provided quality homes for seniors in a historic building for 25 years.

Thank you to all our partners who share the mission of creating safe and affordable homes and are passionate about helping communities thrive.

Molly Caldera

Toms Brook Apartments: An Adaptive Reuse of a Historic School Building