The Aaron Mills Apartments is a new community of affordable housing in a historically industrial area of downtown Martinsville, Virginia. The development will serve elderly individuals, aged 55 and up, making 60% of the Area Median Income or below.

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.

March 2024 – Townhomes at Liberty Place is a new affordable apartment community in the City of Richmond, VA, that creates 40 townhomes for low-income families and households. The multifamily development features 34 three-bedroom units and six one-bedroom units across 10 buildings on a six-acre site. All units at Townhomes at Liberty Place are designed for households making 40%, 50%, and 60% of the Area Median Income, addressing the need for more affordable homes accessible to nearby services in the City of Richmond.

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.  

October 2023 — Horner Run Apartments is a new community that will create 49 affordable housing apartments designed for low-income families in the County of Chesterfield, Virginia. The site consists of one three-story building with a unit mix of 6 one-bedroom, 31 two-bedroom and 12 three-bedroom units.

Orcutt Townhomes I is a redeveloped community that will offer 40 fully redesigned and refurbished homes for families making 40%, 50% and 60% of the Area Median Income in Newport News, Virginia. With a poverty rate of 16.9%, which is over 6% higher than the state average (US Census), the City of Newport News has a high need for high-quality, affordable housing, and Orcutt Townhomes is leading the way to achieving better homes for families who need them the most.

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. 

Grayson Manor is a newly renovated apartment complex in Independence, Virginia, creating affordable living opportunities for seniors and low-income individuals with disabilities in the Southwest Virginia region.

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.

Holly Court Apartments is a community in Kilmarnock, Virginia with 40 affordable homes dedicated to senior citizens. Holly Court will be renovated to improve individual apartments homes, building facilities, a community room, and more. The community will offer a range of engaging perks for residents, including outdoor picnic areas, a large community space, and routine social and recreational activities such as holiday parties and bingo nights. Holly Court also offers residents skill-building, healthy living, and self-sufficiency programs to support residents. New renovations will prioritize energy efficiency and resident comfort with modern amenities.

Wellesley Commons Apartments is an affordable apartment community in Newport News, VA, with 40 high-quality homes dedicated to seniors. Upon closing in March 2023, the apartment complex will undergo extensive renovations to improve facilities and systems that emphasize resident comfort and energy efficiency. With these new renovations, Wellesley Commons Apartments will better serve low-income individuals in the Hampton Roads area with high-quality homes and an all-embracing community where senior citizens can happily age in place.

Holly Court Apartments is a community in Kilmarnock, Virginia with 40 affordable homes dedicated to senior citizens. Holly Court will be renovated to improve individual apartments homes, building facilities, a community room, and more. The community will offer a range of engaging perks for residents, including outdoor picnic areas, a large community space, and routine social and recreational activities such as holiday parties and bingo nights. Holly Court also offers residents skill-building, healthy living, and self-sufficiency programs to support residents. New renovations will prioritize energy efficiency and resident comfort with modern amenities.

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.

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!

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.