Richmond, VA – Virginia Community Development Corporation (VCDC) is pleased to announce Chris Sterling as its next President and Chief Executive Officer, succeeding Bob Newman, who has led the organization with distinction for over 11 years. Chris will officially assume the role on March 17, 2025, bringing extensive experience and a deep commitment to VCDC’s mission of fostering vibrant communities through strategic investments in affordable housing and economic development.

VCDC is thrilled to introduce Vista 29 to our portfolio—a transformative Permanent Supportive Housing community serving the greater Charlottesville, VA area. Designed to provide 80 new apartment homes for formerly homeless and low-income individuals, Vista 29 embodies a vision to address the affordable and accessible housing needs of Charlottesville and Albemarle County residents. 

VCDC is excited to announce the closing of JCOC 3H Housing and the new construction of 38 affordable and permanent supportive SRO units supporting individuals facing homelessness near the City of Virginia Beach oceanfront area. This new development supports a city-wide effort to increase affordable and stable housing opportunities in Virginia Beach, where 300+ residents experienced homelessness last year.

VCDC is excited to welcome Claremont School Apartments to our portfolio, a project that repurposes an old elementary school in Pulaski, VA into 50 affordable apartment homes designed for low-income families earning 30-60% of the Area Median Income. This innovative redevelopment supports Pulaski County's efforts to expand affordable housing options, meeting the needs of a growing population and the region's increasing economic opportunities. 

VCDC is proud to welcome Whites Mill Point II to our portfolio, a renovated community in Abingdon, VA, bringing 32 affordable homes to low-income individuals and families. The rehabilitation of the apartment homes at Whites Mill Point will significantly increase the quality of living for current and potential new tenants at this community, making it a place where residents are proud to call home. 

Lightfoot Apartments is a new community of affordable housing in Culpeper, VA, bringing 60 homes to low-income families. In Culpeper County, a short supply of affordable rental homes has translated into higher rent rates where housing is available, leaving low-income families behind. Lightfoot Apartments serves as a vital new piece to the Culpeper community, filling a deep need for high-quality and affordable homes for families. 

VCDC is proud to welcome Rupert School to our portfolio, an affordable housing community in Rupert, WV that transforms an old elementary school building into 14 apartment homes, a community health clinic and additional community-centered services designed for residents of Greenbriar County.

September 2024 – VCDC's CDFI Lending Entity, VCDF, recently closed on a re-financing loan of $500,000 for the first phase of a mixed-use revitalization project in Lynchburg, VA, which will renovate 9 properties (6 existing buildings and 3 vacant lots) on Lynchburg’s downtown Fifth Street. This extensive revitalization project will help bring vibrancy and attraction back to historic Fifth Street and support Lynchburg’s Downtown 2024 Master Plan.  

As we look ahead to 2025, our organization is preparing for a significant transition. After a notable career dedicated to advancing affordable housing, our CEO, Robert Newman, has announced his retirement, set for April 2025. While we will deeply miss Bob's leadership and vision, this is also a time to celebrate his incredible legacy and begin the process of selecting a new leader to carry forward our mission. 

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.

Parkside Apartments is an affordable apartment community in Culpeper, VA with 37 newly constructed homes designed for low-income families. The townhome-style complex offers 7 one-bedroom, 23 two-bedroom, and 7 three-bedroom apartments constructed on the site of a local scenic park. The homes are Parkside Apartments are specifically reserved for area residents making no more than 40%, 50% and 60% of the Area Median Income, addressing a critical need for stable and affordable housing in Culpeper, where these types of communities are typically challenging to find.

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.

"The Listener” is the newest downtown mural created by artist Nico Cathcart in collaboration with the Newport News Street Museum and the Contemporary Arts Network Foundation. Using the Warwick Apartments building as a canvas, Cathcart pays tribute to the historic site in her design of The Listener, who is affectionately known as “Mr. Warwick” to residents of the building.

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.