Virginia Community Capital Reaches $1 Billion in Statewide Impact
September 25th, 2017

Virginia Community Capital Inc., a nonprofit community development financial institution based in Richmond and Christiansburg, has surpassed the $1 billion mark in total project impact.

The threshold is based on a calculation that for every dollar it lends to a project, an additional $1.44, on average, is leveraged from public and private sector resources and national, state and local social investors.

The project pushing the level over $1 billion is a 240-unit affordable senior apartment community under development in Reston. Virginia Community provided a $1 million pre-development loan for the project.

Virginia Capital has invested $432 million in loans since it was established in 2006. Its mission is to create jobs, enhance quality of life, and increase access to affordable housing throughout Virginia.