Originally constructed in 1890 as a bustling hotel, the Fairfax Hall building in Waynesboro, VA has seen many transformations and held many different faces. The structure operated until the early 1900's as the Brandon Hotel and was later used as a music institute, Brandon Hall, until it eventually converted into a junior college for girls. Today, thanks to the support and assistance from the city of Waynesboro, local public entities, and VCDC, Fairfax Hall has been transformed and updated into 54 high-quality affordable homes for senior citizens.

Nestled in West Virginia’s serene Monongahela Forest of the Appalachian Mountains, the Tygart Hotel shines as a treasured community staple in the City of Elkins, WV. In March, the new-and-improved Tygart Hotel opened to an outpouring of support and excitement from Elkins residents, state and local legislators, visitors, and more. After 8 years of planning and development, the Tygart Hotel now brings 56 boutique hotel rooms and 57 vital jobs to Elkins.

Just three years after the initiation of the Low-Income Housing Tax Credit (LIHTC) program in Virginia, VCDC made its inaugural investment of over $1 million in LIHTC equity to establish Monticello Vista Apartments, providing homes for seniors and families in Charlottesville, VA. Monticello Vista comprises 50 affordable apartment homes designed with convenient accessibility features and amenities. 

As a part of our mission to create vibrant homes in thriving neighborhoods for all, we are committed to working with our partners create homes that individuals with disabilities are proud to live in. Over the years, we have worked with partners to help create 19 communities that prioritize accessibility and comfort for individuals with disabilities in need of affordable housing.

Studio Two Three is a forward-thinking nonprofit art studio in Richmond, VA with a mission to empower artists to create civic change and community engagement through art. After 13 years of growth, Studio Two Three decided to explore the opportunity of purchasing a permanent home for their high-performing studio. Our lending affiliate, VCDF, helped Studio Two Three receive an $800,000 loan so the organization can make an impact in their forever home.

This February, the housing community lost Karl Bren, an instrumental leader who changed the landscape of affordable and sustainable housing across Virginia. Since the 1990’s, Karl was a key player in the creation of several nonprofit organizations and groups focused on affordable housing, homelessness services, and green building.

Allison Bogdanovic is the Executive Director of Virginia Supportive Housing, Virginia’s first and largest nonprofit organization that develops and manages permanent supportive housing for homeless adults. She’s seen a lot of change and growth during her time at the organization, and joining the first cohort of Mission Elevation in 2016 did more than just boost and amplify that growth – it helped her learn how to face uneasy challenges and reframe VSH’s mindset to make a bigger impact in the communities they serve.

“Being a part of initiatives and cohorts such as Mission Elevation allows you to take a step back from our day-to-day innerworkings and be more strategic about the future.”

The Toms Brook Apartments are located just Northwest of Shenendoah National Park in Toms Brook, Virginia. In 2010, we partnered with People Incorporated of Virginia to help restore this historic school building into affordable homes for individuals and families. VCDC invested over $1.6 million in the restoration of Toms Brook Apartments, which includes Low-Income Housing Tax credit equity from our Housing Equity Fund XV and Federal Historic Equity.

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.

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!

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.

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.

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.

The Charlottesville Public Housing Association of Residents (PHAR) formed in 1998 with a mission to “educate and empower low-income residents to protect and improve our won community through collective action,” and is a model for community-driven development of affordable housing. Together, PHAR and CRHA are taking on a comprehensive redevelopment and expansion of public and affordable housing in Charlottesville, VA, through efforts initiated and directed by the public housing residents themselves.

As the first permanent supportive rental housing development for homeless and/or disabled veterans in the area, Cedar Grove is helping fill the urgent need for housing for low-income and disabled veterans.

Center in the Square provides housing for arts and science organizations free of charge and offers marketing and other support services to tenants, assuring the stability and viability of their programming. With a variety of arts, science, and entertainment opportunities, it is an invaluable cultural and educational resource for Roanoke residents and visitors

Situated on the former site of the Eggleston Hotel, Eggleston Plaza, built in 2016, houses 42 garden apartments and a ground floor commercial restaurant and retail space. The development was led by The Hanson Company, whose owner Kelvin Hanson has roots in Richmond and prioritized creating a space for long-time residents of Jackson Ward to age in place. Each apartment was designed with high efficiency HVAC systems and Energy Star windows and appliances, reducing utility costs for residents. The building also features a community room and fitness area for resident use.