2022 - What a year! We are incredibly grateful to our partners who we helped make huge impacts in the communities they serve.

Three years into her position as Executive Director of Housing Families First, Beth Vann-Turnbull knew it was time to make drastic changes the organization's funding model to be able to continue meeting the rising needs of families in Richmond that need a place to call home. To help address this challenge she was encouraged to apply for the second cohort of VCDC’s Mission Elevation program.

Prior to joining Mission Elevation, Hope Cupit, CEO of Southeast Rural Community Assistance Project, Inc. (SERCAP), realized that her organization needed a major departmental reorganization. She knew that Mission Elevation was a sustainability program and believed it could help SERCAP tackle several performance challenges: getting new loan products, faster automation, faster services, and improving marketing initiatives. We asked Hope to reflect on her experience, where she shared that she achieved more than she could have expected from the program.

Housing Equity Fund 26 totals over $68,300,000 in investments from local banks and will help seniors, individuals with disabilities and families throughout Virginia have access to safe, sustainable, and affordable homes.

The Mission Elevation program is an extension of VCDC's commitment to ensure communities are vibrant for all residents. Created 5 years ago, Mission Elevation is the newly named iteration of the successful program the Nonprofit Sustainability Challenge.

The Mission Elevation program is an extension of VCDC's commitment to ensure communities are vibrant for all residents. Created 5 years ago, Mission Elevation is the newly named iteration of the successful program the Nonprofit Sustainability Challenge.

Stonebriar was developed in the 1990’s, but its original building was constructed in 1909 as the “Blue Sulphur Hotel.” VCDC helped fund this reconstruction through one of our first Housing Equity Funds, and in 2016, we invested $924,000 in LIHTC equity along with $309,604 in Federal Historic Rehabilitation Credits that went towards renovation of the apartments. We are so proud to have Stonebriar Apartments in our portfolio, coming up on 25 years!

VCDC is proud to celebrate 30 successful years of partnerships that have allowed us to serve vital and thriving communities. Hear what our partners have to say about our work.

Winchester Forest is a new community that brings 160 much-needed affordable homes in Chesterfield County, Virginia. The apartments are being developed to specifically serve families making annual incomes at or below 60% of the area median income (AMI). VCDC has committed an investment of over $21 million dollars through our Low-Income Housing Tax Credit equity funds for the entire Winchester Forest community. The community offers residents everything they need to feel at home, including a community clubhouse, fitness room, playground, onsite management staff, maintenance, and parking.

Originally built in 1883, the Warwick Hotel in Newport News, Virginia was an elite landmark and a hub of downtown activity into the 20th century. The historic seven-story building now serves as an 88 single-room occupancy (SRO) residence providing affordable permanent supportive housing for formerly homeless individuals.

Florida Terrace Apartments is an affordable housing community bringing 31 new homes to low-income residents in Lynchburg, VA. Florida Terrace was developed by Rush Homes, Inc. VCDC has invested a total of $4,500,000 toward the development cost of Florida Terrace Apartments through VCDC Equity Fund 26.

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.