Virginia Housing accepting applications for Innovation Grant Program

Monday, January 13, 2025/Categories: News Board

From Virginia Housing:

We're excited to share that the application window for Virginia Housing’s Innovation Grant Program is now open, and applications will be accepted through Wednesday, Feb. 19!

Our Innovation Grant Program supports breakthroughs in both housing affordability and housing services for residents in Virginia, with a focus on serving low- and moderate-income households. The goal is to encourage partners to develop new technical and process-based solutions that, while uncommon now, could be easily replicated over the long term. Ideal applicants include local governments, nonprofit organizations and quasi-governmental entities.

There are three specific types of grants within the overall program: Innovation Planning, Innovation Program and Innovation Construction.

• Innovation Planning Grants serve as a precursor to the other two, offering up to $50,000 for recipients to explore ideas for innovations that are not yet ready for execution. This grant is similar to other Virginia Housing grants in that its application is open, and it is awarded on a noncompetitive basis, meaning that all applicants who meet the eligibility thresholds will receive a grant offer. Applications for Innovation Planning Grants are noncompetitive and will be accepted on a rolling basis.
• Innovation Program Grants offer up to $200,000 for organizations to incorporate new approaches in services and financing, from property management, maintenance and community engagement to funding models, financial products and investment strategies. Applications for Innovation Program Grants are competitive and must be submitted by Feb. 19.
• Innovation Construction Grants offer up to $500,000 to supplement the costs of building methods that show potential to reduce construction time and costs; examples might include developing more affordable or sustainable materials or pioneering construction techniques that save resources while maintaining or improving quality. This grant can also be used to make forward-thinking improvements to projects that Virginia Housing is already financing. Applications for Innovation Construction Grants are competitive and must be submitted by Feb. 19.

This year’s Innovation Program Grant awardees will build on the success of the 2024 grant winners, whose projects you can learn more about here.

The Innovation Program Grant application, as well as details on criteria and eligibility, can be found at VHDAGrants.com. You can also email Grants@VirginiaHousing.com with any questions.

We can't wait to see what you come up with!

Best,

The Strategic Housing Team