CHARLOTTESVILLE, VA (CVILLE RIGHT NOW) – Albemarle County has opened applications for the Affordable Housing Investment Fund (AHIF), a funding opportunity to support the creation and preservation of affordable housing in the community.
This fund was formed in this year’s budget process involving 0.4-cents of a 4-cent real estate tax rate increase.
That fueled $1.2-million in FY26 for establishment of this fund, and the Board of Supervisors added an additional $3-million in a one-time fund transfer allocation.
“When the Board approved the FY26 budget, we were intentional about how additional tax dollars would be used. The Affordable Housing Investment Fund is a direct example of those dollars being reinvested into our community to help ensure Albemarle County remains a place where people can afford to live and work,” said Board Chair and Rio District Supervisor Ned Gallaway.
According to the county announcement, “The AHIF program is open to qualified developers and organizations proposing projects that address housing affordability needs as outlined in the County’s strategic goals. Eligible projects can include new construction, rehabilitation, or conversion of properties within Albemarle County’s designated Development Areas that commit to long-term affordability, with at least 20% of units reserved as affordable housing.”
Those interested in applying for AHIF funding must submit completed applications by 11:59 p.m. on Saturday, January 31.
“Funding decisions will be made following review of eligible applications, and award announcements are anticipated in Spring 2026,” the announcement said.
For some, led by Scottsville Supervisor Mike Pruitt, the $4.2-million is a start but is not adequate as he wants to see the county make a similar $10-million-a-year commitment or more that the City of Charlottesville has toward an affordable housing fund.
