To increase the potential for regional diversity of funded projects, the Northern Virginia Regional Commission (NVRC) has re-opened its solicitation for affordable housing projects seeking part of the remaining approximately $500,000 in grant funds it has available to support affordable housing development.
NVRC received funds from the state housing finance agency, Virginia Housing (VH), and awarded the majority of these funds in February 2022. You can read about those awards here. You can read more about the program and the prior application process here.
During this re-opened solicitation, NVRC is seeking affordable housing proposals for projects to be located in Arlington County, Prince William County, the Cities of Fairfax, Falls Church, Manassas or Manassas Park, or the independent towns in Northern Virginia.
Eligible projects include homeownership or rental housing serving homebuyers or tenants with incomes at or below 80% Adjusted Median Income. Rental units underwritten by this funding must be habitable by 6/30/2024; homebuyer units must be closed and ready for move-in by the same date. Funds can be used to acquire property to create affordable housing or to construct affordable housing. Projects that have already begun construction are not eligible. Projects that include the renovation of existing affordable housing units are not eligible.
Interested parties should prepare a one-page project narrative with a corresponding budget (using NVRC’s Virginia Housing Budget Template). These application materials should be submitted by email to Amelie Rives, Sr. Associate at HDAdvisors, NVRC’s housing management consultant, at amelie@hdadvisors.net.
Submission deadline: Applications are due by close of business Friday, June 3, 2022; late applications will not be considered. Questions should be directed to Amelie at (804) 718-0406.
NVRC Virginia Housing Budget Template can be downloaded here.