PDC Housing Development Program Partners Continue Building in 2024

The CSPDC’s PDC Housing Development Grant is nearing its three-year mark in June 2024, and the seven partners that were awarded a total of $1.66 million in gap funding for their affordable housing developments have made significant progress over the past year. Given delays caused by the COVID-19 pandemic and supply chain disruptions, the deadline to complete all projects has been moved to June 2025. Upon completion, the grant will result in the development of 58 new units of affordable housing in the Central Shenandoah region.

Program highlights include:

  • As of January 2024, 19 of the 58 planned affordable units have been completed and are either occupied or prepared for occupancy. The remaining 39 are under construction or involved in pre-development activities.
  • 8 of the 19 completed units provide permanent supportive housing to extremely low-income individuals (30% of Area Median Income (AMI) or below) who have experienced housing instability.
  • The remaining 11 completed units are efficiency-style apartments that will provide housing to households at 60% AMI or below.
  • 80% of the grant funds awarded to developers have been distributed as reimbursement for pre-development and development costs.
  • Across the seven affordable housing developments, more than $19 million in supplemental funding sources have been leveraged in addition to the PDC Housing Development Grant.

Pictured: One of the duplex buildings that will comprise the 21 units (19 of which will be affordable) in the Suter Street Development Project. This innovative project is a partnership between Central Valley Habitat for Humanity and PDY, LLC, a local developer in Harrisonburg.

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