Piedmont Housing Alliance of Charlottesville, Virginia, has operated since 1996 to offer homebuyer education, credit counseling, and fair housing advocacy, and to administer down-payment assistance programs. As part of the latest Smith NMTC transaction, a $30M closing with Community Housing Capital, Piedmont Housing Alliance will utilize a $6M allocation to build and renovate approximately 17 homes in two separate communities. All of the homes will be sold to low-income buyers, many of whom are BIPOC homeowners.
Piedmont Housing Alliance is a Virginia nonprofit founded in 1996 with a focus on creating affordable housing opportunities and fostering community through education, lending, and equitable development. PHA offers preparedness counseling on debt reduction, credit improvement, fair housing and foreclosure prevention.
The areas specified for the new homes in this transaction are in the Southwood mixed-use/mixed-income redevelopment of an existing trailer park in Albemarle County and in the Fifeville-Prospect Avenue neighborhood in the heart of Charlottesville. Both communities are affected by high poverty rates and low median incomes.