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.

This adaptive reuse and historic rehabilitation provides 67 homes for families living below 50-60% of the median income of the city. Given the building’s history, each unit is unique, and historic features were preserved including the large corridors, high ceilings, and ceramic wall tiles in the original labor and delivery rooms.

The renovation of Culpepper Garden consisted of the rehabilitation of 204 units and addition of six new units. “Almost $60 million. So, we needed a team with the experience, expertise, responsiveness—and patience—to pull it off.

Victoria Ridge is an apartment community of accessible and affordable homes for people with disabilities in Lynchburg, VA. The property is a new construction and has 16 one-bedroom and 8 two-bedroom apartments, each with spacious floor-plans designed to be fully accessible for people with mobility impairments.

Freedom Lane, a community of permanent supportive housing for homeless and disabled veterans, is the first of its kind in southwest Virginia. This new construction sits on a portion of an eight-acre site of rolling meadow, with mature oak trees scattered throughout.

For decades the Leigh Street Armory has served as a strong symbol of strength, perseverance, and pride in the historic Jackson Ward district. Today, after an adaptive reuse renovation, the Armory is once again a vibrant cornerstone of the neighborhood, serving as the Black History Museum and Cultural Center of Virginia.

Harrisonburg Downtown Renaissance has set out to reverse the many years of economic decline, revitalize the downtown area and sustain Harrisonburg’s Main Street as a destination location.

Tranquility at the Lakes has been an important part of a long-awaited revitalization plan for the Burton Station neighborhood in northwest Virginia Beach. The new construction features 40 independent living apartments for low-income seniors.

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.

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.