Piedmont Housing Alliance receives $2 million for affordable housing projects
CHARLOTTESVILLE, Va. (WVIR) - The Piedmont Housing Alliance is receiving $2 million thanks in part to the U.S. Treasury Department’s Capital Magnet Fund.
The organization this grant comes after years of work.
“Third time’s a charm,” PHA Executive Director Sunshine Mathon said. “We actually have applied the last three years to the Capital Magnet Fund and this year was the first year we got an allocation, so we’re extremely excited.”
PHA already knows where this money is going: “When we applied last year, we applied with a couple of projects in mind, in particular, we have a partnership with [Habitat for Humanity of Greater Charlottesville] on the Southwood project to do some affordable rental housing there. And then, additionally, Friendship Court phase two,” Mathon said.
Mathon says affordable housing is at a crisis point, and this grant will help close the gaps and ease the burden.
“The growth that we have are aiming to develop in the affordable housing sector through development at Southwood, at Friendship Court, and a number of other projects we have in the works is focused on trying to directly address what we know is just a dire need across all levels of affordability,” Mathon said.
Copyright 2022 WVIR. All rights reserved.
Do you have a story idea? Send us your news tip here.