Federal Grants of $14 Million to Aid Affordable Housing in Central Virginia

Virginia Grants for Affordable Housing

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Virginia Senators Tim Kaine and Mark Warner announced that six localities in Central Virginia are set to receive a total of $14 million in federal funding to improve affordable housing. The funding will be provided through four federal grant programs, with nearly $8.5 million in flexible funding allocated to infrastructure, economic development projects, housing construction or rehabilitation, public facilities upgrades, homeowner assistance, and more.

Henrico, Chesterfield, Richmond, Petersburg, Hopewell, and Colonial Heights will benefit from the direct funding, which aims to provide safe and affordable housing to residents of the area. In addition to the flexible funding, another $3.2 million will go to HOME programs in Richmond, Chesterfield, and Henrico. These funds will be used to build, buy, or rehabilitate affordable housing, as well as provide direct rental assistance.

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Furthermore, Richmond will receive a $393,268 grant to support emergency homeless shelters and a $2,010,099 grant to support services for low-income people living with HIV. The funding is expected to make a significant impact in addressing the housing crisis in Central Virginia.

In addition to the $14 million awarded to the six localities, a total of $34.8 million has been allocated at the state level to support the same programs. However, recent efforts to boost local powers to enact affordable housing measures never made it out of this year’s General Assembly, which has stalled progress on the state level.

The Senators commented, “All Virginians should have a safe place to live. We’re glad this funding will support community development projects, improve affordable housing options, and help more Virginians find a home.” The funding will help boost affordable housing initiatives in Central Virginia and offer more opportunities for residents to access safe, affordable housing. Click this link to read more about the news.

Christopher Charles spent 6 years in the mortgage industry before moving into the world of digital media. He's helped thousands of families buy and refinance real estate at banks and mortgage companies and now continues that mission through industry-leading content. Chris is known for his expertise in the mortgage & real estate industry and continues to produce content all over the web.

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