Cool Lane Commons is an adaptive reuse of a vacant building in the Richmond Metro Area. It contains 86 single room occupancy homes and serves low-income residents earning 50% or less of the Area Median Income. VCDC has invested a total of $10,723,121 for Cool Lane Apartments through the Housing Equity Fund of Virginia 24. Virginia Supportive Housing (VSH), the developer of Cool Lane Commons, has a long-shared history of partnership with VCDC.

May 2022 - Poplar Creek Homes is a community located in South Boston, VA. Poplar Creek Homes serves low-income families and meets the demands for more affordable housing developments in the largely rural area of Southside Virginia. Amenities at Poplar Creek include 16 Hardie plank sided buildings constructed for energy efficiency, high-quality cabinets, countertops and flooring. VCDC partnered with Southside Outreach Group (SSOG) to assist in the development of Poplar Creek Homes.

Quarry Station Senior Apartments is a rehabilitated independent senior apartment community in the heart of historic Old Town Manassas. The community consists of 79 newly renovated affordable homes. Onsite amenities at Quarry Station include a community arts and crafts room, library and computer room, game room, access to free Wi-Fi, picnic area, and even an onsite salon. VCDC provided an investment of $8,275,012 in LIHTC (Low Income Housing Tax Credit) equity through VCDC Equity Fund 26 for Quarry Station.

The Planet Apartments is in the historic Jackson Ward neighborhood in Richmond, VA, and features 67 newly constructed homes designed to serve low-income families. VCDC invested over $9,500,000 in LIHTC equity for The Planet Apartments through the Housing Equity Fund of Virginia 24. VCDC is working with longtime partner Better Housing Coalition (BHC) on the Planet Apartments.

Sweetbriar II is the second phase of community serving low-income families in Abingdon, Virginia with 22 duplex-style homes designed to serve low-income families. Sweetbriar II is one of the developer’s most energy-efficient communities to date. Amenities are built with high quality, including a high-efficiency heating and cooling system along with energy-saving ventilation and dehumidification systems. VCDC has partnered with People Incorporated Housing Group (PIHG), the subsidiary development arm to People Incorporated of Virginia, with 17 prior tax credit investments partnerships to date.

Kindlewood is in the first phase of an affordable housing redevelopment in Charlottesville, Virginia. Kindlewood Phase I will bring 106 newly renovated homes in three buildings to current residents at the community and new residents. VCDC provided $14,457,035 in LIHTC equity for Kindlewood through Housing Equity Funds 23 and 24. VCDC partnered with Piedmont Housing Alliance (PHA) and National Housing Trust (NHT) to assist in developing the community.

VCDC’s lending affiliate VCDF is proud to announce it received a $375,000 grant from Truist Financial Corporation through its Truist Charitable Fund, a donor-advised fund at the Winston-Salem Foundation, to expand its lending capital and increase its capacity to serve partners and low-income communities, and to further the shared goals of VCDF and Truist to develop more safe and affordable housing in Virginia.

Whitefield Commons is a newly renovated community in Arlington, VA. The new development offers 68 one-to-three-bedroom garden apartments for individuals and families in need of affordable housing in Northern Virginia. Wesley Housing is providing supportive services to residents such as free educational classes and after-school help for children. Whitefield Commons now has upgrades for heating and cooling systems, durable counters, cabinets and vanities, a parking lot, and infrastructure for high-speed internet.

Firefly Commons is a mixed-generation community in the City of Elkins, West Virginia. The community contains 16 new homes between seven buildings: six duplexes are for seniors, and one building is a townhouse-style unit housing for families. Firefly Commons has been in the works since 2014.The community includes homes for low-income seniors who prefer to live in a multi-generational community surrounded by families and other senior citizens.

VCDC is proud to welcome Kilmarnock Village Apartments to our portfolio. The rehabilitation of the Kilmarnock Village Apartments includes upgrades to heating and cooling systems, energy star appliances, a new roof, counters, cabinets, vanities, landscaping, exterior sidewalks, parking lot, appliances, and installing infrastructure for high speed internet.

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.

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.

VCDC’s lending affiliate, VCDF, is collaborating with a group of CDFIs to form the Virginia CDFI Coalition, which will, among other things, be actively involved with the state agencies responsible for deploying the fund.

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 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.

The federal government has awarded VCDC’s Virginia Community Development Fund (VCDF) $2.25 million from the Treasury Department’s Capital Magnet Fund (CMF). The grant will finance high quality affordable rental housing in communities across VA and WV where developers are hard-pressed to get financing from traditional sources.

VCDC is proud to announce the closing of three projects in 2020 by our lending program, VCDF (Virginia Community Development Fund), to obligate one half of our allocation of 2018 New Market Tax Credits.

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.