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Albemarle County Opens Affordable Housing Investment Fund Applications

Post Date:07/08/2026 2:40 PM
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. The AHIF program provides grants for eligible projects that will help expand affordable housing options for residents of Albemarle County.

The AHIF was established as part of the FY 2026 budget approved by the Board of Supervisors, which included a real property tax rate increase to strategically invest in key community priorities. 0.4 cents, or $1.2 million in FY26, of the real property tax rate increase (the first since 2019), created a dedicated funding stream for housing initiatives. In addition to the dedicated funding stream, the Board allocated a one-time transfer of an additional $3 million to the fund.

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 Friday, July 31, 2026. Funding decisions will be made following review of eligible applications.

The Office of Housing will hold an open house Q&A session from 10 a.m. to noon on Thursday, July 23, 2026 for those who wish to learn more about the program. For full eligibility requirements, program guidelines, and application instructions, visit the Office of Housing webpage.
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