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Black-Led Non-Profit Developer To Raise $1.5M For Housing Acquisition/ Rehabilitation

Virginia Housing and Community Development Corporation (VHCDC), a certified black-led Community Development Entity (CDE), is seeking equity investors for up to $1.5 million to scale its investment model of acquiring, renovating, leasing, and selling single-family homes in low-income communities.

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“We have a model that works for black investors. Whether they’re individuals, families, or minority-owned small businesses, we provide an opportunity for regular income, by acquiring run-down, foreclosed homes and turning those structures into quality, affordable housing for disabled and homeless veterans, ex-offenders, and low- to moderate-income families – those who need it most,” said James R. Taylor, Founder and President of VHCDC.

“We’ve worked hard the past few years to build a pipeline of first-time home buyers and position our organization to acquire and rehabilitate foreclosed properties, which enables us to deliver quality, affordable housing to renters and first-time homebuyers alike,” he said.

“We succeeded in attracting a small number of local investors in the past three years who receive regular dividends of about 4% every six months. Our ROI since July 2017 is 28.52%, which we believe is a decent return. Now is the time to scale our Partnership. There’s plenty of real estate in our communities in need of attention, a significant number of disabled/homeless veterans and ex-offenders desperately in need of affordable housing, and plenty of black professionals who can invest in their backyards. We need to make this happen,” said Mr. Taylor.

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Written by PH

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