Danville Family Homes

Danville Family Homes, a 40 unit single family home community in Danville, Virginia, consists of two and three bedroom newly constructed homes with two full baths. To assure long-term value and energy efficiency, the homes include attached garages, energy star rated building materials and appliances, low-flow faucets, central HVAC, range, refrigerator, dishwasher, washer/ dryer hook ups, basements, and porches. The units are also wired for, and provide, high speed internet/DSL access. The subdivision includes a playground and community center equipped with meeting space, management offices, common laundry, and a business center with computers and free internet access.

Danville Family Homes serves low- and moderate-income families who are pursuing economic self-sufficiency and the dream of homeownership. The property operates under a Lease-Purchase structure in which the initial 15-year compliance period is designed as an evolutionary, educational period where residents are instructed and guided toward homeownership – physically (i.e. how to change a furnace filter or light bulb), financially (job preparedness / budget training / credit counseling; building down-payment assistance), and emotionally (thinking independently about solving problems and managing the responsibility of homeownership).

PIRHL, in partnership with Buckeye Community Hope Foundation and Total Action Against Poverty (TAP), developed Danville Family Homes, Thirty-five units are situated on a subdivision with the remaining five units located on scattered sites conveyed to the project partnership by the Danville Housing and Redevelopment Authority in partnership with the City of Danville. In Year 15, TAP will have the right of first refusal to purchase the tax credit partnership for the balance of the outstanding debt on the property plus exit taxes, insurance, and closing costs. Beginning in Year 16, TAP will then offer the current resident the right of first refusal, but not the obligation, to purchase their home.