Virginia Housing Invests $4 Million in Virginia’s Community Land Trusts

February 5, 2026

In 2025, Virginia Housing set aside $4 million to support the five community land trusts in the Commonwealth. Each of these organizations received $800,000 to create at least eight new units of housing, and together they are already on track to exceed the 40-unit target.

This investment exemplifies Virginia Housing’s commitment to investing in innovative housing solutions, as community land trusts provide low- and moderate-income buyers with a stepping stone into homeownership. In this model, the community land trust owns the land while the homeowner owns the home that sits on it, which lowers the purchase price. The land and home are bound by a long-term lease, ensuring that if the homeowner relocates, the home is again priced affordably.

Four of the five trusts that received funds support various regions across Virginia, including Lynchburg, Richmond, Blacksburg and Charlottesville, while one works statewide. These organizations are using the funding to support their missions in a variety of ways, from acquiring land to purchasing and rehabilitating homes to bridging gaps in construction funding.

“The grant that was provided to the community land trust earlier this year was crucial in enabling these eight homes to be sold to low-income homeowners,” says Sunshine Mathon, Executive Director of the Piedmont Housing Alliance. “Virginia Housing has been a deep partner, both with the Piedmont Community Land Trust and the Piedmont Housing Alliance, as a funder, as a thought partner, as a catalyst. They’ve been a true partner in really achieving the goals that we all want to see for affordability throughout the Commonwealth.”

Virginia Housing is a leader among housing finance agencies when it comes to investing in shared equity models of homeownership like community land trusts. Virginia Housing recently participated in a panel at the National Council of Housing Agencies (NCSHA) in Washington, D.C. to share our approach to these programs and encourage others to consider supporting shared equity in their states. Fannie Mae, Freddie Mac and Grounded Solutions Network have also recognized Virginia Housing as one of the most experienced partners in shared-equity program lending.

Check out the video linked below to hear more from Sunshine and the impact that this grant has had on the Piedmont Community Land Trust’s efforts to increase the affordable housing stock in Charlottesville.

Hear more of the Piedmont Community Land Trust’s inspiring story in this video.