Enterprise Community Development announced significant affordable housing financing awards supporting the creation and preservation of quality homes for families and individuals across Virginia.
As part of the record-breaking investment from the Virginia Department of Housing and Community Development through the Affordable and Special Needs Housing (ASNH) Program, Enterprise Community Development secured more than $7.4 million in financing to advance two affordable housing communities.
The awards included a nearly $4.5 million ASNH loan to support the development of a 96-unit affordable housing community in Waynesboro, and a more than $3 million ASNH commitment for Coralain Gardens in Fairfax County, to preserve and rehabilitate a 106-unit apartment community.
The funds are part of a historic statewide investment totaling $154.5 million in ASNH loans across 47 projects. The funding leverages an additional $974 million in public and private resources, bringing the economic investment to $1.1 billion and supporting the creation or preservation of more than 3,000 homes.
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