Community Housing Partners (CHP), which provides affordable and sustainable housing throughout the Southeast and Mid-Atlantic, is pleased to announce that it has been awarded over $17 million in Affordable and Special Needs Housing (ASNH) loans from the Commonwealth of Virginia. The funding will support the substantial renovation of four affordable housing communities, preserving 322 homes for low- and moderate-income families across the state.

CHP received awards for the following projects:

  • Yorktown/Rivermeade Apartments in Yorktown, Virginia – $5 million
  • Hunt Ridge Apartments in Lexington, Virginia – $4,134,600
  • Yorktown Square I Apartments in Yorktown, Virginia – $4,090,100
  • North Fork Manor in Saltville, Virginia – $3,788,214

These initiatives are part of Governor Glenn Youngkin’s recent announcement of a record-breaking $154.5 million in ASNH loans to 47 projects across Virginia—the greatest single investment in the Affordable and Special Needs Housing Program ever administered by the Commonwealth. “These loans leverage a total of $1.1 billion to provide accessible and affordable housing for all Virginians. This is a cornerstone for the prosperity of our Commonwealth,” Youngkin said. “By prioritizing housing, we strengthen our economy, reinforce our communities, and build a stronger, more vibrant Virginia for generations to come.”

Andy Davenport, Vice President of Real Estate Development at CHP, expressed his gratitude for the substantial funding. “CHP is honored to be the largest recipient of funding through this round of ASNH loans,” he said. “These awards enable us to continue our mission of creating and preserving affordable, sustainable housing for families across Virginia. Each of these projects is vital to its community, and this funding will ensure that they continue to provide safe, high-quality homes for residents for years to come.”

Yorktown/Rivermeade Apartments in Yorktown, Virginia, consists of three existing Rural Development properties totaling 140 homes that were originally constructed between 1980 and 1988. CHP will undertake comprehensive renovations including new kitchens and bathrooms in all units, high-efficiency HVAC systems, new appliances and lighting, as well as site improvements to parking lots, sidewalks, and lighting. Upon completion, the apartments will serve households earning at or below 50% of the Area Median Income (AMI), with 15 of them reserved for those at or below 40% AMI.

Hunt Ridge Apartments in Lexington, Virginia, is a 70-apartment family community that CHP purchased in 2020. The comprehensive rehabilitation will include site improvements, building envelope upgrades with new windows and roofing, interior upgrades to all units, and the installation of a small solar array. The project will serve families with income limits between 40% and 60% AMI, with 28 percent of apartments being three-bedroom homes.

Yorktown Square I Apartments in Yorktown, Virginia, a 56-apartment community built in 1972, will also undergo extensive renovations. The property will receive new roofs, windows, and updated kitchens and bathrooms, along with high-efficiency mechanical systems. The community serves families earning up to 50% AMI and includes 12 apartments up to 40% AMI, with a mix of one-, two-, and three-bedroom townhouses.

North Fork Manor in Saltville, Virginia, represents a critical preservation project for a 56-townhome community that has never been renovated since its construction in 1982. Located in Smyth County, all the apartments receive project-based Section 8 rental subsidies and will continue to serve households with income limits between 30% and 60% AMI. The comprehensive renovation will include new roofs, siding, windows, HVAC systems, complete kitchen and bathroom renovations, new parking lots and sidewalks, and a new playground. The redevelopment will achieve Enterprise Green Communities certification and significantly reduce utility costs for residents.

All four projects will be funded through a combination of sources including Low-Income Housing Tax Credits, Virginia Housing Development Authority REACH funding, National Housing Trust Funds, Virginia Department of Housing and Community Development (DHCD) Housing Trust Fund/HOME financing, Housing Innovations in Energy Efficiency (HIEE) funding, Capital Magnet Funds, and seller financing.

Affordable and Special Needs Housing loans are administered by DHCDC. The program combines state and federal resources to provide gap financing that expedites construction of new and renovated housing. In this funding round, 91 applications were submitted requesting more than $243 million, with 47 projects receiving awards.

Additionally, the Governor’s Office recently announced that the Commonwealth of Virginia is providing $1.2 million to the Industrial Development Authority of Halifax for a workforce housing development in South Boston, for which CHP is a development partner.

For more information about the ASNH program, visit www.dhcd.virginia.gov/asnh.

Founded in 1975, Community Housing Partners (CHP) provides quality-built, responsibly managed, service-enriched homes for low-income individuals and families across the Southeast and Mid-Atlantic. Through its mission to create homes and communities that are healthy, sustainable, and affordable, CHP has been a leading advocate of affordable housing development for 50 years. CHP’s activities include real estate development, construction, energy services and training, asset management, property management, realty and homeownership, and comprehensive resident services.