At College Hill in Lynchburg, Virginia, CHP preserved and renovated 10 large historic homes into multi-family rental apartments in 2003. There are 28 units for very low-income and low-wealth families. These homes underwent a major rehabilitation, gutting interiors, redesigning the spaces, and dividing the houses into comfortably-sized family units. Each house now contains three (3) to four (4) units, consisting of two (2), three(3) or four (4) bedroom apartments.
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This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.
College Hill Homes is managed by Community Housing Partners.