RICHMOND, Va. (WAVY) — On Thursday, Governor Terry McAuliffe announced more than $8.4 million in affordable and social needs housing loans.
The money will go toward 15 projects in 13 locations across the state, creating or maintaining nearly 570 affordable housing units.
“By focusing on the development and preservation of affordable housing, we are strengthening the foundation of our new Virginia economy and giving Virginians the tools they need to access opportunity,” the governor said in a release.
Virginia Supportive Housing (VSH) is one of the organizations selected to receive funding. VSH provides affordable housing with on-site services for people who have experienced homelessness. Residents pay 30 percent of their individual monthly income in rent.
“We’re excited. We’re thrilled,” said executive director Allison Bogdanović. “Affordable housing is a key piece to a healthy community.”
Virginia Supportive Housing will receive $800,000 for its $19 million apartment project called ‘New Clay House II’ in Richmond’s Carver neighborhood.
The money will be used to update and expand a building that hasn’t been renovated in 28 years.
“This is a key last piece. We’re hoping to start construction later this summer,” she said.
There are currently 47 units. The project will increase it to 80.
Bogdanović says it isn’t just impacting those who live in the building.
“Whether you think about homelessness as a right — everyone deserves to have a home a place to live. Or whether you want to think about it in dollars and cents — homelessness costs all of us,” she said.
She says it’s expensive for people to be on the street, part of the justice system or misusing hospitals for healthcare.
“When they’re in a home, it’s a much more dignified place,” said Bogdanović.
‘New Clay House II’ will include a community room, fitness room and a courtyard for residents.
According to the governor’s release:
Using a streamlined and competitive application process at the Virginia Department of Housing and Community Development (DHCD), qualifying applicants are eligible to receive funding through the HOME Investment Partnership Program (HOME), National Housing Trust Fund (NHTF), and the Virginia Housing Trust Fund (VHTF). DHCD allocated more than $3.3 million in VHTF loans, nearly $2.9 million in NHTF, more than $1.7 million in HOME funding, and $500,000 in Permanent Supportive Housing funding for this round.
Here is the full list of projects awarded funding: