LYNCHBURG, Va. (WFXR) — Four local developers are receiving an award of $773,000 from the Central Virginia Planning District Commission (CVPDC) for the development of affordable housing throughout the region.
The Virginia Housing PDC Development Grant’s main initiative is to promote the development of affordable single-family and/or multifamily housing units in the Commonwealth.
“It is a pleasure to announce the award to these projects creating much-needed affordable housing in our region. We applaud the commitment of each these developers in developing quality housing,” said Alec Brebner, Executive Director of the CVPDC.
This announcement highlights 16 new affordable residential units to neighborhoods in the Town of Altavista, Amherst County, and the City of Lynchburg. A total of 47 new affordable units will be built throughout Central Virginia, including the ongoing Rush Homes project, . All the developed units will be available to individuals or families with incomes at or below 80% Area Median Income (AMI).
Anyone interested in calculating their AMI, can use this tool here.