Crescent Square is a community of 80 apartments serving formerly homeless and low-income individuals through the partnership of community-based non-profit and multiple jurisdictions in eastern Virginia. It is the fifth permanent supportive housing development backed by VSH and Virginia Housing Development Authority (VHDA) in Hampton Roads.

Connecting the Wayne Theatre to revitalization efforts in the city’s downtown, the Wayne Theatre Alliance saw an opportunity to simultaneously pay homage to the building’s history and catalyze economic development in the city’s downtown with a performance center for the arts.

The Birthplace of Country Music Alliance, an affiliate of the Smithsonian Institution, was established in order to preserve and promote the musical heritage of Bristol. With focused collaboration between public and private entities on both the Virginia and Tennessee sides of town, the Birthplace of Country Music Cultural Heritage Center was born in 2014.

VCDC is proud to announce the closing of the Knightsbridge Apartments. Located in the heart of Arlington, VA, the Knightsbridge project involves the rehabilitation of an existing apartment complex with 37 LIHTC units serving individuals and families. Six units will be outfitted with accessibility features for disabled residents.

VCDC is proud to welcome Skyline Manor Apartments to our portfolio. Skyline Manor is a renovated affordable housing community in Glasgow, Virginia that offers 32 renewed homes serving low-income seniors ages 62 and above. VCDC partnered with developer Landmark Asset Services, Inc. to assist with the rehabilitation of this community.

VCDC is proud to welcome Sycamore Towers Apartments to our portfolio. Sycamore Towers Apartments is a renovated community designed for seniors in Petersburg, Virginia. Key renovations include new elevators, flooring, cabinets, roofing, electrical services, plumbing, LED lighting, windows, and heating and cooling systems.

The New Markets Tax Credit Program was established to spur investments in operating businesses and real estate projects located in low-income communities. The program attracts investment capital by permitting individual and corporate investors to receive a tax credit against their Federal income tax return in exchange for making equity investments in specialized financial institutions.

Real estate tax credits are tools the federal government and state governments use to encourage investment in the development of real estate that is necessary and beneficial to a community, but not financially feasible without additional incentives.

The Low-Income Housing Tax Credit (LIHTC) is the most successful affordable rental housing production program in U.S. history. It is the federal government’s primary program for encouraging banks and other corporations to invest private equity in the development of affordable, multi-family rental housing for low-income households.