In 1995, working primarily in very low-income neighborhoods where property values have decreased and overall community revitalization is needed, LNDF decided to take on the role of housing developer. The Foundation chose Tinbridge Hill as its pilot site for single family housing development and has focused its efforts on the College Hill community.
Single Family Housing Development
Since 1996, LNDF has been committed to increasing the homeownership rate in the lower
income neighborhoods of Lynchburg. LNDF has developed 10 new homes through renovation
or new construction, and sold them to qualified purchasers using our affordable mortgage program. Four houses are in
pre-development, three are acquisition/rehabilitation projects for re-sale and the fourth
is a new construction project
Ten new homes built
Four new homes in pre-development
Multi Family Housing Development
In 1998, LNDF in partnership with
Community Housing Partners Corp (CHPC) began the first of two Low-Income
Housing Tax Credit projects, College Hill Homes, a 10-building, 64-unit scattered site rental project
with rents affordable to low- and very low-income construction. Preliminary work is
underway to identify other opportunities for multi-family housing development in the City
and in the counties.
64 affordable rental units
more than $4,400,000 in private equity