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Petersburg apartments sell for $2.9M
Landmark Apartments, a 53-unit affordable housing property in Petersburg, has been purchased by Mercer Street Partners for $2.867 million. Landmark, located at 450 Van Buren Drive, was originally developed in 1983 using the U.S. Department of Housing Development’s (HUD) Project-Based Section 8 program for subsidized housing. The buyer, Mercer Street Partners, acquired the property subject [&[...]
Altria donates $3M to Better Housing Coalition
The Richmond-based nonprofit Better Housing Coalition (BHC) announced Monday it has received the largest corporate gift in its 33-year history — a $3 million gift from Henrico County-based Fortune 500 tobacco product manufacturer Altria Group Inc. BHC plans to use the donation to develop more affordable housing in the greater Richmond region. It will also […]
Amazon makes $340M commitment to Arlington affordable housing
Amazon.com Inc. announced Wednesday that it is committing nearly $340 million to affordable housing efforts in Arlington, where the e-commerce giant is establishing its $2.5 billion East Coast HQ2 headquarters. This is part of the company’s $2 billion commitment to affordable housing, the Housing Equity Fund, which was announced Wednesday. The remaining funding will go […]
$8.79M in CARES Act funding going to affordable housing
Following Gov. Ralph Northam’s announcement on Aug. 7 that the eviction moratorium would be extended through Sept. 7, U.S. Sens. Mark R. Warner and Tim Kaine on Monday announced that $8.79 million in federal Coronavirus Aid, Relief, and Economic Security (CARES) Act funding will go to affordable housing in Virginia. “As housing insecurity continues to […]
State awards nearly $12M in affordable housing funds
The state will allocate nearly $12 million to affordable housing and homelessness reduction programs throughout the state, Gov. Ralph Northam announced Thursday. The funding includes $10.7 million in Affordable and Special Needs Housing (ASNH) loans for 12 projects, which will create or preserve 607 affordable housing units for low-income Virginians, and $1.2 million in grants […]
