FOR IMMEDIATE RELEASE

MEDIA CONTACT:

Lindsay Chamberlain

Development and Communications Manager

(434) 422-4866

lchamberlain@piedmonghousing.org

PIEDMONT HOUSING AWARDED $2M IN FEDERAL FUNDING

CHARLOTTESVILLE, VA (June 24, 2022) – “Affordable, safe housing should be available to every Virginian,” U.S. Sens. Mark R. Warner and Tim Kaine said in their announcement of the $9,000,000 designation to three Virginia-based organizations. “This funding will allow Virginia organizations to continue their crucial work of securing housing for those in need.”

The funds will be broken down as follows:

  • $5,000,000 for the Arlington Partnership for Affordable Housing, Inc. in Arlington, VA.

  • $2,000,000 for AHC Inc. in Arlington, VA.

  • $2,000,000 for Piedmont Housing Alliance.

Charlottesville has the second-highest cost of living in Virginia and the region’s high cost of housing is linked to a limited supply at all income levels. High development and construction costs, high land and acquisition costs, and limited subsidy resources translate to significant funding gaps for affordable housing developments. Without adequate subsidies, it is virtually impossible to build affordable housing.

Piedmont Housing’s award will specifically help close increasing funding gaps tied to inflationary construction costs for Friendship Court Phase 2 and the Southwood Apartments development, totaling 206 affordable homes in Charlottesville and Albemarle County.

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Piedmont Housing Alliance is an affordable housing non-profit is dedicated to improving financial outcomes for individuals and families by offering innovative affordable housing solutions in the city of Charlottesville and Albemarle, Fluvanna, Greene, Louisa, and Nelson counties. In doing this, we acknowledge the role real estate practices and laws have played in preventing Black Americans and others from building wealth in our service area and country. We stand ready to make intentional change to right these wrongs. The mission of Piedmont Housing is to create housing opportunities and foster community through education, lending, and equitable development.