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Industry Support, Impact Stories Molly Dye Industry Support, Impact Stories Molly Dye

Technical Assistance Success Stories: Property Management Training Uplifts 70+ Affordable Properties in Virginia

VCDC's Technical Assistance (TA) Program offers unique benefits to our partners in affordable housing to help them obtain the resources they need to create real change in their communities. Recently, we used TA funds to support training services for over 80 property managers and maintenance staff at our affordable communities across Virginia.

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Industry Support, Impact Stories Molly Dye Industry Support, Impact Stories Molly Dye

Mission Elevation Success Stories: Housing Alexandria

Housing Alexandria, a nonprofit developer based in Northern Virginia, is dedicated to creating homes and community-focused spaces that empower the residents of Alexandria. With over 840 affordable homes delivered and 400 additional rental units currently planned for construction, the organization has significantly impacted the Alexandria region. As Housing Alexandria has grown, CEO Jon Frederick and COO Elisa Mondragon recognized the need for strategic guidance to tackle new, ambitious projects. To address this, they joined Cohort 6 of VCDC’s Mission Elevation program.

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Industry Support, Impact Stories Molly Dye Industry Support, Impact Stories Molly Dye

Mission Elevation Success Stories: Judeo-Christian Outreach Center

The Judeo-Christian Outreach Center (JCOC) is a community-focused organization that provides essential services to low-income and vulnerable residents including an emergency shelter, a veteran transitional housing program, a food pantry, and a day support program. Recently, JCOC reached a major milestone in their mission to empower communities after beginning renovations for a campus that will create 38 new supportive housing homes for people experiencing homelessness in Virginia Beach. As JCOC has expanded, Executive Director Todd Walker and Development Director Kristin Ward recognized the need to enhance their administrative, financial, grant management, and fundraising capacities. To address these needs, they joined VCDC’s Mission Elevation (ME) program.

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Tax Credits, Impact Stories Molly Dye Tax Credits, Impact Stories Molly Dye

Fairfax Hall: A historic renovation for affordable senior homes

Originally constructed in 1890 as a bustling hotel, the Fairfax Hall building in Waynesboro, VA has seen many transformations and held many different faces. The structure operated until the early 1900's as the Brandon Hotel and was later used as a music institute, Brandon Hall, until it eventually converted into a junior college for girls. Today, thanks to the support and assistance from the city of Waynesboro, local public entities, and VCDC, Fairfax Hall has been transformed and updated into 54 high-quality affordable homes for senior citizens.

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Tax Credits, Impact Stories Molly Dye Tax Credits, Impact Stories Molly Dye

The Tygart Hotel showcases the spirit and vibrance of West Virginia

Nestled in West Virginia’s serene Monongahela Forest of the Appalachian Mountains, the Tygart Hotel shines as a treasured community staple in the City of Elkins, WV. In March, the new-and-improved Tygart Hotel opened to an outpouring of support and excitement from Elkins residents, state and local legislators, visitors, and more. After 8 years of planning and development, the Tygart Hotel now brings 56 boutique hotel rooms and 57 vital jobs to Elkins.

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Tax Credits, Impact Stories Molly Dye Tax Credits, Impact Stories Molly Dye

A face for the community: “The Listener” beautifies downtown Newport News

"The Listener” is the newest downtown mural created by artist Nico Cathcart in collaboration with the Newport News Street Museum and the Contemporary Arts Network Foundation. Using the Warwick Apartments building as a canvas, Cathcart pays tribute to the historic site in her design of The Listener, who is affectionately known as “Mr. Warwick” to residents of the building.

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Impact Stories, Tax Credits Molly Dye Impact Stories, Tax Credits Molly Dye

Affordable and Accessible Homes: Honoring Disability Pride Month

As a part of our mission to create vibrant homes in thriving neighborhoods for all, we are committed to working with our partners create homes that individuals with disabilities are proud to live in. Over the years, we have worked with partners to help create 19 communities that prioritize accessibility and comfort for individuals with disabilities in need of affordable housing.

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Tax Credits, Impact Stories Molly Dye Tax Credits, Impact Stories Molly Dye

Monticello Vista: VCDC’s Commitment to Vibrant Communities Over 30 Years

Just three years after the initiation of the Low-Income Housing Tax Credit (LIHTC) program in Virginia, VCDC made its inaugural investment of over $1 million in LIHTC equity to establish Monticello Vista Apartments, providing homes for seniors and families in Charlottesville, VA. Monticello Vista comprises 50 affordable apartment homes designed with convenient accessibility features and amenities.

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Lending, Impact Stories Molly Dye Lending, Impact Stories Molly Dye

An artful investment in Richmond’s beloved art nonprofit, Studio Two Three

Studio Two Three is a forward-thinking nonprofit art studio in Richmond, VA with a mission to empower artists to create civic change and community engagement through art. After 13 years of growth, Studio Two Three decided to explore the opportunity of purchasing a permanent home for their high-performing studio. Our lending affiliate, VCDF, helped Studio Two Three receive an $800,000 loan so the organization can make an impact in their forever home.

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Industry Support, Impact Stories Molly Dye Industry Support, Impact Stories Molly Dye

Remembering Karl Bren, a Trailblazer in Affordable, Sustainable Housing

This February, the housing community lost Karl Bren, an instrumental leader who changed the landscape of affordable and sustainable housing across Virginia. Since the 1990’s, Karl was a key player in the creation of several nonprofit organizations and groups focused on affordable housing, homelessness services, and green building.

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Industry Support, Impact Stories Molly Dye Industry Support, Impact Stories Molly Dye

Mission Elevation Success Stories: Allison Bogdanovic, Virginia Supportive Housing

Allison Bogdanovic is the Executive Director of Virginia Supportive Housing, Virginia’s first and largest nonprofit organization that develops and manages permanent supportive housing for homeless adults. She’s seen a lot of change and growth during her time at the organization, and joining the first cohort of Mission Elevation in 2016 did more than just boost and amplify that growth – it helped her learn how to face uneasy challenges and reframe VSH’s mindset to make a bigger impact in the communities they serve.

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Tax Credits, Impact Stories Molly Dye Tax Credits, Impact Stories Molly Dye

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

The Toms Brook Apartments are located just Northwest of Shenendoah National Park in Toms Brook, Virginia. In 2010, we partnered with People Incorporated of Virginia to help restore this historic school building into affordable homes for individuals and families. VCDC invested over $1.6 million in the restoration of Toms Brook Apartments, which includes Low-Income Housing Tax credit equity from our Housing Equity Fund XV and Federal Historic Equity.

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Industry Support, Impact Stories Molly Dye Industry Support, Impact Stories Molly Dye

Mission Elevation Success Stories: Beth Vann-Turnbull and Housing Families First

Three years into her position as Executive Director of Housing Families First, Beth Vann-Turnbull knew it was time to make drastic changes the organization's funding model to be able to continue meeting the rising needs of families in Richmond that need a place to call home. To help address this challenge she was encouraged to apply for the second cohort of VCDC’s Mission Elevation program.

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Industry Support, Impact Stories Molly Dye Industry Support, Impact Stories Molly Dye

Mission Elevation Success Stories: Hope Cupit and SERCAP

Prior to joining Mission Elevation, Hope Cupit, CEO of Southeast Rural Community Assistance Project, Inc. (SERCAP), realized that her organization needed a major departmental reorganization. She knew that Mission Elevation was a sustainability program and believed it could help SERCAP tackle several performance challenges: getting new loan products, faster automation, faster services, and improving marketing initiatives. We asked Hope to reflect on her experience, where she shared that she achieved more than she could have expected from the program.

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Tax Credits, Impact Stories Molly Dye Tax Credits, Impact Stories Molly Dye

25 years with Stonebriar Apartments

Stonebriar was developed in the 1990’s, but its original building was constructed in 1909 as the “Blue Sulphur Hotel.” VCDC helped fund this reconstruction through one of our first Housing Equity Funds, and in 2016, we invested $924,000 in LIHTC equity along with $309,604 in Federal Historic Rehabilitation Credits that went towards renovation of the apartments. We are so proud to have Stonebriar Apartments in our portfolio, coming up on 25 years!

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Tax Credits, Impact Stories Campfire & Co. Tax Credits, Impact Stories Campfire & Co.

The Warwick Apartments

Originally built in 1883, the Warwick Hotel in Newport News, Virginia was an elite landmark and a hub of downtown activity into the 20th century. The historic seven-story building now serves as an 88 single-room occupancy (SRO) residence providing affordable permanent supportive housing for formerly homeless individuals.

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Tax Credits, Impact Stories Raven Bates Tax Credits, Impact Stories Raven Bates

Bermuda Estates: Innovation in Affordable Housing

Manufactured homes are an important source of affordable housing across the country, yet the benefits offered by these communities are often obscured by low-quality homes, deteriorating infrastructure, and the stigma surrounding mobile homes and trailer parks. In response to these problems VCDC affiliates are partnering with project:HOMES on an innovative project to integrate manufactured housing into the affordable housing stock for families in the Richmond region.

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Tax Credits, Impact Stories Raven Bates Tax Credits, Impact Stories Raven Bates

Golden Rule: VCDC beyond Virginia

In 2014 the Preservation Alliance of West Virginia listed the historic Golden Rule building as an endangered property, citing deferred maintenance and its significant role in the commercial history of Belington. With the support of the Belington Revitalization Committee, the Woodlands Development Group acquired the building in 2017 with the combined goals of preserving a historic landmark and repurposing it for community use, providing much needed quality housing and new jobs.

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