CHP One of Nation's Most Prolific Affordable Housing Developers
Community Housing Partners (CHP) has been identified by Affordable Housing Finance (AHF) as one of the nation’s Top 50 Affordable Housing Developers of 2014. The rankings are based on the number of new affordable housing units—those serving residents earning no more than 60% of the area median income—started in 2014.
Last year, CHP was responsible for starting three new multifamily housing development projects in Virginia, two of which were funded in part with Low Income Housing Tax Credits. Located in Hopewell, Fredericksburg, and Blacksburg, the projects comprise a combined total of 136 affordable rental units that will be available to low-income households.
Though not factored into AHF’s rankings, CHP also completed substantial rehabilitations of two affordable housing communities in Pulaski, Virginia and Mount Sterling, Kentucky, as well as of several individual units across the organization’s portfolio that totaled 114 rental units.
In addition, CHP acquired eight existing multifamily communities in 2014, for a total of 272 apartments that will be preserved by CHP as affordable housing for local residents in Fredericksburg, Lorton, Charlottesville, Christiansburg, Pulaski, Dublin, and Jonesville, Virginia.
“2014 was a busy year for CHP and we are pleased to be recognized by Affordable Housing Finance for our efforts, and those of our partners, to create quality, affordable housing opportunities for people living in the Southeast,” said CHP Vice President of Development David Schultz. “We are positioned for another productive year in 2015 and anticipate the momentum will only continue as the need for decent, affordable housing continues to grow across the nation”