Building Partnerships for Affordable Housing Success with People Incorporated of Virginia

To date, we have provided technical assistance and financing support leading to the development of 23 People Inc. communities that serve historically disinvested neighborhoods throughout the region, with VCDC and affiliates investing in over $52.5 million.

Our longstanding partnership with People Incorporated of Virginia (People Inc.) has resulted in significant achievements in providing affordable housing in areas across Southwest Virginia and the northern Shenandoah Valley. To date we have provided technical assistance and financing support leading to the development of 23 People Inc. communities that serve historically disinvested neighborhoods throughout the region, with VCDC and affiliates investing in over $52.5 million.  Luray Meadows and Culpepper Crossing are two communities from this partnership that have made a positive impact in Page and Culpepper Counties.  

Luray Meadows, the first newly constructed LIHTC community in Page County since 1996, consists of 52 apartments designed for low-income individuals and families with half of all units containing accessibility-focused upgrades that respond to the needs of the county, where roughly one in five residents have a disability. The development of Luray Meadows faced numerous challenges, including rezoning, land use issues, and unforeseen construction costs. Despite these obstacles, People Inc.'s Development Team, with support of the VCDC’s Development Team, persevered for a decade to bring this project to fruition. The work was well worth it, effectively doubling the available affordable housing in the area for families and was celebrated by being named the Outstanding Rural Housing Development Award through the 2022 Virginia Governor's Housing Awards.  

Luray Meadows, (year).

Bryan Ailey, People Inc.'s Chief Development Officer, expressed his pride in the team's persistence and shared mission alignment, emphasizing VCDC's commitment to seeing through challenging projects.  

“One of the things I’m most proud of is just kind of having been able to believe that a project can be built there even after losing a project and continuing to pursue it,” Bryan said. “And having VCDC hang in there with us the whole way...VCDC has always been willing to ride those tough deals”    

Culpepper Crossing is another success story, providing 28 affordable and newly renovated homes for families and seniors in the Shenandoah Valley. Initially, the site was a market-rate apartment complex that had fallen into disrepair over the years. With assistance from VCDC, People Inc. transformed the dilapidated complex into fully affordable, high-quality housing. Importantly, during the rehabilitation process, 95% of the original residents were able to remain in their homes, minimizing dislocation and relocation. The renovation project for Culpepper Crossing was so successful that it won the Best Housing Revitalization award at the 2021 Virginia Governor’s Housing Awards and prompted the town of Culpepper to approach People Inc. with another partnership on an affordable housing revitalization project in the area. 

Hunter recalled that one of the most impactful memories he had working with Culpepper Crossing was the transformation the rehabilitation made for longstanding residents at the apartments — particularly for one resident who had skepticisms about the renovation’s success.

“At the end of it, through the grapevine, she mentioned to her daughter and her daughter relayed to us and our management team that it’s the nicest unit she’s ever lived in,” Hunter said.  

After working together on affordable housing communities with VCDC for over a decade, Bryan and Hunter both reflected on how the Luray Meadows and Culpepper Crossing communities were flagstone projects due their impact on communities and because working with VCDC means more than a typical developer-syndicator relationship for them. 

“Every nonprofit has a mission,” Bryan said. “But I think VCDC -- over all the years that we've worked with them -- has really proved that they are actually invested in their mission, in the same way that I hope that we demonstrate and prove that [at People Inc.]. The mission alignment was unimpeachable in the pursuit of those two projects.”