Virginia Loan Fund Established for Preservation Deals

By A. J. Johnson & Caitlin Jones
August 26, 2008 1 min read

Virginia Community Capital and the National Housing Trust Community Development Fund, two leading affordable housing lenders, have announced a new $30 million preservation acquisition loan pool.

The Preservation Acquisition Loan (PAL) fund will offer bridge financing with terms of two to three years to enable sponsors to acquire and hold existing affordable rental housing properties in Virginia while they secure long-term financing.

Roughly one-third of Virginians are renters, and much of the affordable apartments in the state are at risk. Over the next five years, contracts on more than 17,000 project-based HUD Section 8 units in Virginia will expire.

Funding sources for PAL include the Virginia Department of Housing & Community Development, Virginia Housing Development Authority, and private lenders, including Bank of America, SunTrust, and Wachovia. read more…

Breaking Ground

Jennifer Leimaile Ho, Minnesota Housing Commissioner and Incoming Chair of National Council of State Housing Agencies

Pamela Martineau • December 1, 2024 10 min read

Earlier this fall, Jennifer Leimaile Ho was elected chair of the National Council of State Housing Agencies’ (NCSHA) 2025 Board of Directors. Ho is the Commissioner of Minnesota Housing, having been appointed by Governor Tim Walz in January 2019 and reappointed in 2023.

“Business as Usual”

Leaders in Equity Express Optimism Despite an Uncertain Future

Abram Mamet • December 1, 2024 9 min read

Any outside observer may assume some unease amongst the low-income housing industry. Buffeted on the one hand by residual stressors from the COVID-19 pandemic and on the other by the uncertain prospects of an incoming federal administration keen on cutting spending and shrinking government programs, the affordable housing landscape is experiencing an inflection point.

NCSHA Recognizes Stand-Out Affordable Housing Programs and Initiatives

Pamela Martineau • December 1, 2024 7 min read

This fall, the National Council of State Housing Agencies (NCSHA) recognized 17 programs offered by state housing finance agencies across the nation that creatively developed tools to tackle their communities’ affordable housing challenges.