Our Programs Affordable Housing
Housing is the foundation of healthy communities, providing stability, economic opportunity, and a pathway to better health and well-being. Yet, for too many families, safe and affordable housing remains out of reach. Across Virginia and nationwide, the need for affordable homes continues to grow, putting pressure on low- and moderate-income families. Locus is committed to addressing this challenge by financing the creation and preservation of affordable housing, ensuring that more families have access to stable, high-quality homes they can afford. By investing in housing, we are strengthening communities, fostering economic mobility, and building a better future.
Preserving the Past and Looking Toward the Future in Pulaski
Pulaski Lofts are under construction at an 88-year-old decommissioned middle school in Pulaski, VA, a community adjacent to Radford and 30-minute drive to Blacksburg. Real estate development groups Echelon Resources and LBD Investments, a Richmond-based real estate developer specializing in historic in-fill projects, are leading the collaboration in partnership with Virginia Housing, the Virginia Department of Historic Resources, and Locus.
Built in the Colonial Revival style, the former schoolhouse is situated on 14 acres of park-like property that will welcome residents, families, and their pets. Single and double-story layouts will offer one-, two-, and three-bedroom lofts, many of which retain large 24-pane windows and other historic details, such as chalkboards and transom windows. The project makes use of both federal and state Historic Tax Credit programs, which positively affect economic vitality and investment in Virginia.
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Building Homes that Help
Southside Community Development & Housing Corporation (SCDHC) is a 35-year-old nonprofit dedicated to increasing affordable housing in the Richmond region. Guided by a mission to take a holistic approach to creating viable, thriving, and sustainable communities, SCDHC focuses on residential and commercial development, homeownership education and counseling, employment services, and supportive programs for low-income families throughout Central Virginia.
Since its founding, SCDHC has developed over 450 affordable single-family homes and assisted thousands through its HUD-approved housing counseling programs. In 2024, SCDHC broke ground on a three-story building in Petersburg that will offer 12 affordable one-bedroom apartments. Scheduled for completion in 2025, the development is designed to meet the housing needs of individuals earning up to 60% of the Area Median Income.
The new building will provide residents with easy access to on-site housing counseling and financial services offered by SCDHC, empowering them to achieve financial stability and work toward homeownership. Locus supported this critical project with construction and bridge financing, working alongside partners such as the City of Petersburg, HUD, and the Crater District Planning
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Housing Shaped by the Community
Kindlewood is a four-phase affordable housing development that replaces Friendship Court, a 47-year-old Section 8 community consisting of 150 units in the heart of Charlottesville. Since 2017, a resident-led committee has guided this process, ensuring robust engagement and shared decision-making. The redevelopment is founded on key principles: zero displacement through phased construction, maintaining and expanding affordable housing, and creating a holistic community that fosters wealth-building and resilience. Upon completion, the entire project will comprise 450 affordable housing units catering to individuals and families earning between 30-80% of the Area Median Income.
Phase 1, completed in 2023, provided 106 new affordable housing units, 11 of which are designed for people with disabilities. Phase 2 broke ground in January 2025, with an anticipated completion date in Fall 2026. This phase will add 100 new affordable homes, with approximately half serving as replacement units for existing residents and the other half providing new housing opportunities for the surrounding Charlottesville community. Locus supported Phase 2 with critical bridge financing to ensure the project continues delivering on its mission of creating accessible and sustainable housing solutions. Read more about this project.
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Historic Building Sees New Life
Revitalizing historic landmarks requires vision and a deep commitment to community investment. The transformation of Danville’s iconic White Mill into Dan River Falls illustrates what’s possible when mission-driven capital supports ambitious redevelopment. This $86.5 million project is repurposing a 550,000-square-foot structure into a vibrant mixed-use hub, with 150 apartments—32 reserved as workforce housing for individuals earning up to 80% of the area median income—alongside 147,000 square feet of commercial space and a new seven-acre riverfront park.
Financing partners, including Locus, have been instrumental in bringing this project to life, demonstrating the power of aligning historic preservation with community economic growth. By supporting efforts like Dan River Falls, mission-driven financing helps catalyze long-term revitalization and broaden access to opportunity.
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& recreation
office, and retail