Partnerships Pushing Transformative Change in Virginia’s Housing Crisis

A continuing challenge for Better Housing Coalition (BHC), an experienced nonprofit, affordable housing developer in Richmond, Virginia, is the competition from market-rate developers with all-cash offers. BHC watches for properties that might otherwise be demolished or performing properties that BHC could manage to benefit vulnerable Virginians. Community Housing Capital's (CHC) renewal of a $5 million line of credit (LOC) will help BHC successfully bid for affordable multifamily properties as they hit the market. The flexible capital will also help BHC negotiate with owners before listing their properties (for quicker turnaround and lower pricing).