**Enterprise Community Development Secures Over $7.4 Million in Affordable Housing Awards Across Virginia**
Enterprise Community Development has secured more than $7.4 million in financing to support the creation and preservation of affordable housing communities across Virginia. The funding comes as part of a historic investment by the Virginia Department of Housing and Community Development through its Affordable and Special Needs Housing (ASNH) Program.
The awarded financing includes:
– Nearly $4.5 million to aid the development of a new 96-unit affordable housing community in Waynesboro.
– Over $3 million committed to Coralain Gardens in Fairfax County, supporting the preservation and rehabilitation of a 106-unit apartment complex.
These grants are part of a broader $154.5 million statewide investment into 47 projects through the ASNH Program. In total, the funding will leverage an additional $974 million in public and private capital, resulting in a combined $1.1 billion economic investment. This initiative aims to create or preserve more than 3,000 homes for families and individuals across Virginia, significantly expanding access to quality and affordable housing.
