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.

We are excited to announce that VCDC’s lending affiliate, VCDF, has received an award of $450,000 from the Community Development Financial Institutions Fund (CDFI Fund) to launch a new loan product designed to attract developers to rural areas of Virginia and West Virginia.

Hands-on asset management is part of the ongoing commitment to long-term success that VCDC upholds for each community in which we invest.

Housing security is correlated to health and emotional well-being, employment prospects and economic opportunity, yet the supply of available affordable housing for low-income renters across the country is deeply inadequate. Millions of people can’t afford a place to live.

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.

More than just a name, VCDC has always stood for the idea that all individuals deserve the opportunity to live in neighborhoods that allow them to thrive. Our deep connection and commitment to the communities we serve often overshadowed the promotion of our organization. In 2019, along with staff, Board, partners and a team of experts we embarked on a journey to more authentically share our story.