Building housing to be reserved for low-income individuals and households is expensive and takes multiple sources of funding. That includes state and federal funding in the form of grants and loans.
On February 26, Governor Glenn Youngkin announced the award of over $139 million in loans through the Virginia Department of Housing and Urban Development’s Affordable and Special Needs Housing loans.
“When we prioritize housing affordability and availability, we drive economic progress, fortify our communities, and build a stronger, more vibrant Virginia for generations to come,” Youngkin said in an information release.
Funding for the loan programs from three federal sources as well as the Virginia Housing Trust.
The Piedmont Housing Alliance is the only organization that received funding in this award cycle.
- $5 million for the project known as 1025-A Park Street
- $5 million for the project known as 501-A Cherry Avenue
- $4.7 million for the Park Street Christian Church project
- $3,906,817 for the project known as 1025-B Park Street
Each of those projects has received or will receive funding from the City of Charlottesville in the capital improvement plan. More specifics on those as time marches on. To learn about the rest of the projects funded in this round, take a look at the information release.
Before you go: Why is the cost of housing so expensive? That’s a good question and one that is embedded in the very nature of this website and the newsletter that feeds it. This segment was originally in the March 3, 2025 edition of Charlottesville Community Engagement. Then it was posted here as well. The point is to try to capture a public record of things that have happened around here. Want to support it? Drop me a line!
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