VCDC is proud to welcome Whites Mill Point II to our portfolio, a renovated community in Abingdon, VA, bringing 32 affordable homes to low-income individuals and families. The rehabilitation of the apartment homes at Whites Mill Point will significantly increase the quality of living for current and potential new tenants at this community, making it a place where residents are proud to call home. 

Lightfoot Apartments is a new community of affordable housing in Culpeper, VA, bringing 60 homes to low-income families. In Culpeper County, a short supply of affordable rental homes has translated into higher rent rates where housing is available, leaving low-income families behind. Lightfoot Apartments serves as a vital new piece to the Culpeper community, filling a deep need for high-quality and affordable homes for families. 

September 2024 – VCDC's CDFI Lending Entity, VCDF, recently closed on a re-financing loan of $500,000 for the first phase of a mixed-use revitalization project in Lynchburg, VA, which will renovate 9 properties (6 existing buildings and 3 vacant lots) on Lynchburg’s downtown Fifth Street. This extensive revitalization project will help bring vibrancy and attraction back to historic Fifth Street and support Lynchburg’s Downtown 2024 Master Plan.  

As we look ahead to 2025, our organization is preparing for a significant transition. After a notable career dedicated to advancing affordable housing, our CEO, Robert Newman, has announced his retirement, set for April 2025. While we will deeply miss Bob's leadership and vision, this is also a time to celebrate his incredible legacy and begin the process of selecting a new leader to carry forward our mission. 

The Aaron Mills Apartments is a new community of affordable housing in a historically industrial area of downtown Martinsville, Virginia. The development will serve elderly individuals, aged 55 and up, making 60% of the Area Median Income or below.

Parkside Apartments is an affordable apartment community in Culpeper, VA with 37 newly constructed homes designed for low-income families. The townhome-style complex offers 7 one-bedroom, 23 two-bedroom, and 7 three-bedroom apartments constructed on the site of a local scenic park. The homes are Parkside Apartments are specifically reserved for area residents making no more than 40%, 50% and 60% of the Area Median Income, addressing a critical need for stable and affordable housing in Culpeper, where these types of communities are typically challenging to find.

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.

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.

March 2024 – Townhomes at Liberty Place is a new affordable apartment community in the City of Richmond, VA, that creates 40 townhomes for low-income families and households. The multifamily development features 34 three-bedroom units and six one-bedroom units across 10 buildings on a six-acre site. All units at Townhomes at Liberty Place are designed for households making 40%, 50%, and 60% of the Area Median Income, addressing the need for more affordable homes accessible to nearby services in the City of Richmond.

Our longstanding partnership with People Incorporated of Virginia (People Inc.) has resulted in significant achievements in providing affordable housing in areas across Southwest Virginia and the northern Shenandoah Valley. To date we have provided technical assistance and financing support leading to the development of 23 People Inc. communities that serve historically disinvested neighborhoods throughout the region, with VCDC and affiliates investing in over $52.5 million.  Luray Meadows and Culpepper Crossing are two communities from this partnership that have made a positive impact in Page and Culpepper Counties.  

October 2023 — Horner Run Apartments is a new community that will create 49 affordable housing apartments designed for low-income families in the County of Chesterfield, Virginia. The site consists of one three-story building with a unit mix of 6 one-bedroom, 31 two-bedroom and 12 three-bedroom units.

Orcutt Townhomes I is a redeveloped community that will offer 40 fully redesigned and refurbished homes for families making 40%, 50% and 60% of the Area Median Income in Newport News, Virginia. With a poverty rate of 16.9%, which is over 6% higher than the state average (US Census), the City of Newport News has a high need for high-quality, affordable housing, and Orcutt Townhomes is leading the way to achieving better homes for families who need them the most.

"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.

Grayson Manor is a newly renovated apartment complex in Independence, Virginia, creating affordable living opportunities for seniors and low-income individuals with disabilities in the Southwest Virginia region.

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.

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.

Holly Court Apartments is a community in Kilmarnock, Virginia with 40 affordable homes dedicated to senior citizens. Holly Court will be renovated to improve individual apartments homes, building facilities, a community room, and more. The community will offer a range of engaging perks for residents, including outdoor picnic areas, a large community space, and routine social and recreational activities such as holiday parties and bingo nights. Holly Court also offers residents skill-building, healthy living, and self-sufficiency programs to support residents. New renovations will prioritize energy efficiency and resident comfort with modern amenities.

Wellesley Commons Apartments is an affordable apartment community in Newport News, VA, with 40 high-quality homes dedicated to seniors. Upon closing in March 2023, the apartment complex will undergo extensive renovations to improve facilities and systems that emphasize resident comfort and energy efficiency. With these new renovations, Wellesley Commons Apartments will better serve low-income individuals in the Hampton Roads area with high-quality homes and an all-embracing community where senior citizens can happily age in place.

Holly Court Apartments is a community in Kilmarnock, Virginia with 40 affordable homes dedicated to senior citizens. Holly Court will be renovated to improve individual apartments homes, building facilities, a community room, and more. The community will offer a range of engaging perks for residents, including outdoor picnic areas, a large community space, and routine social and recreational activities such as holiday parties and bingo nights. Holly Court also offers residents skill-building, healthy living, and self-sufficiency programs to support residents. New renovations will prioritize energy efficiency and resident comfort with modern amenities.