Virginia Housing Grants and Planning District Commissions Collaborate to Create Housing Opportunities for Virginians
Virginia Housing has announced a $40 million grant program for Virginia’s 21 Planning District Commissions (PDCs) to stimulate affordable housing initiatives in the region. The grants, in collaboration with the PDCs, have brought over 250 apartments and single-family homes to communities in Virginia and there are many more on the way.
The PDCs have been working with community partners and other stakeholders to develop and implement regional approaches to housing development to create new affordable homes. Virginia Housing expects that by the end of the three-year grant program, more than 1,800 affordable housing units will be developed. The grants, along with state, private, federal, and Virginia Housing financing, will support projects identified by the PDCs and their partners to address rental, homeowner, and mixed-use housing needs in their respective regions. These initiatives include financing new affordable homeownership opportunities, renovating vacant and blighted properties, supporting the development of a regional housing trust fund, and creating upper-story housing in downtown business districts.
Chris Thompson, Director of Strategic Housing at Virginia Housing, said, “This partnership has elevated the topic of housing across Virginia and spurred more regional conversations aimed at addressing the need for new housing. We’re proud of the work that has come to life as a result of our investment–one that continues to further our mission of creating affordable, sustainable housing across the Commonwealth. We look forward to each project and the positive impact it will have on the families and communities involved.”
The president of the Virginia Association of Planning District Commissions, Lou Ann Wallace, expressed gratitude for Virginia Housing’s support in creating much-needed affordable units and for entrusting PDCs to spearhead collaborative efforts with regional and local organizations to help meet critical housing needs. “PDCs are doing what they do best—bringing stakeholders together to address challenges that reach across local borders,” she said.
Virginia Housing, which was founded in 1972 as the Virginia Housing Development Authority (VHDA), raises money in capital markets to provide mortgages to first-time homebuyers, financing for rental developments and neighborhood revitalization efforts. The organization invests in innovations in affordable housing and makes homes for people with disabilities and older Virginians more livable. For more information about Virginia Housing and grants available, visit https://www.virginiahousing.com/partners/housing-partners/grant.
The 21 PDCs and regional commissions in Virginia were established in 1969 to encourage and facilitate regional solutions to problems of area-wide significance by promoting the efficient development of the physical, social, and economic policies of all districts by assisting local governments to plan for the future. The PDCs of Virginia joined together to create the Virginia Association of Planning District Commissions to share best practices and advance regionalism across the commonwealth. For more information about VAPDC, visit the website at www.vapdc.org.
This grant program from Virginia Housing and the PDCs will provide a significant boost to the affordable housing initiatives in Virginia. The collaboration between Virginia Housing, the PDCs, and their community partners will create new affordable housing options for Virginians, which will strengthen communities and the economy.