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Funding awarded for 16 Va. housing developments

Thursday - 12/13/2012, 11:17am  ET

RICHMOND, Va. - Sixteen affordable housing developments in Virginia will share $5 million in funding from the Federal Home Loan Bank of Atlanta.

The bank said Wednesday that the $5 million for the Virginia developments is part of $13.6 million it will award in 10 states and the District of Columbia. The funds will enable the creation or improvement of 2,265 units of affordable housing.

In Virginia, the money will be used to build or repair 651 homes. Projects range from $86,085 for the Scottsville School Apartments in Scottsville to $457,561 for the Hope Village Apartments in Portsmouth.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)