VCDC’s Housing Equity Fund 28 brings 273 new homes to Virginia Communities
VCDC’s Low-Income Housing Tax Credit Fund 28 will help create and restore over 273 affordable homes.
January 2025 — The VCDC Housing Equity Fund 28 will help low-income households throughout Virginia have access to safe, sustainable, and affordable homes. Thanks to the valued support from six investment partners, VCDC raised $48.34 million in equity to support the development of affordable housing in the Virginia localities of Bristol, Lebanon, Manassas, Charlottesville, and Richmond.
Fund 28 will help finance an array of innovative affordable housing communities that will offer stable homes and supportive services to low-income families and households, serving approximately 622 individuals. The fund will support approximately 12 units designed for low-income veterans, 80 units designed for formerly homeless and very low-income individuals, and 21 apartments designed for low-income seniors and/or people with disabilities. Many of the apartment homes in Fund 28 will prioritize energy efficient, green building and accessible design to ensure healthy, eco-friendly homes for residents. Additionally, 47 units will be designed and planned with resident input at the forefront.
Among the new properties that will benefit low-income are:
Thank you to our Fund 28 investment partners for your dedication to supporting vibrant communities:
Atlantic Union Bank
Capital One
Citizens & Farmers Bank
Fannie Mae
Pendleton Community Bank
Truist
Thank you to development partners for entrusting us to help you drive change in the communities you serve.
Our work to develop tax credit financing for affordable housing in the Mid-Atlantic region continues with the opening of VCDC Equity Fund 29 in 2025.
Contact us to learn more about how we can collaborate to meet your banks CRA investment needs or to develop your community vision as part of our next fund offering.