Supporting Affordable Housing on the Eastern Shore
There is a shortage of safe and affordable housing on the Eastern Shore of Virginia. With the Bailey House Apartments project, the Eastern Shore Housing Alliance will be able to assist the private housing production sector in delivering adequate housing, related services, and facilities to the market.
- Mission-Focused Lending
As a Community Development Financial Institution (CDFI), VCC can support projects like Bailey Road Apartments with VCC’s mission to create jobs, energize places, and foster an enhanced quality of life.
- Flexible Lending
The projects VCC backs are sometimes considered “too complicated” from the broader financial community, Bailey Road Apartments are no exception. It took creativity and innovative thinking in conjunction with government funding.
The property will contain 24 units in 12 buildings. This project is focused on providing affordable housing for the farm labor industry and workers.