Virginia Housing announced the investment of $4 million to support five community land trusts. Each of these organizations received $800,000 to create at least eight new units of housing, and together they are already on track to exceed the 40-unit target.
Four of the five trusts that received funds support various regions across Virginia, including Lynchburg, Richmond, Blacksburg and Charlottesville, while one works statewide. These organizations are using the funding to support their missions in a variety of ways, from acquiring land to purchasing and rehabilitating homes to bridging gaps in construction funding.
Check out this video to hear the impact that this grant has had on the Piedmont Community Land Trust’s efforts to increase the affordable housing stock in Charlottesville.
