Virginia Community Development Corporation
As a Virginia-based, 501(c)(3) nonprofit corporation, VCDC is able to bring statewide resources to local community housing needs, play a leadership role in the development of statewide housing policy, and provide expertise required for the development of affordable housing and access to Low-Income Housing Tax Credits (LIHTC), Historic Rehabilitation Tax Credits and New Markets Tax Credits.
VCDC is Virginia’s largest nonprofit investor in LIHTC properties. Special services include early training and technical support to help “grow” community-based affordable housing developers. All projects funded by VCDC have financial strength based on adequate capital reserves for each project, as well as at the fund level, and within the parent corporation. Reserves are set aside to assist properties and project sponsors and to safeguard fund investments.
To date, VCDC has raised over $450 Million in capital which has been invested in a portfolio of 21 funds comprised of 178 projects of approximately 6,800 housing units.