Rental Housing Acquisition & Preservation Loan Program

News and Announcements

Loudoun County Issues Request for Qualifications for the Rental Housing Acquisition and Preservation Loan Program 

The Loudoun County Department of Housing and Community Development (DHCD) is issuing a Request for Qualifications (RFQ) for one of its affordable housing financing programs, the Rental Housing Acquisition and Preservation Loan Program (RHAP). The purpose of the RHAP program is to preserve affordable, multi-family rental housing units in Loudoun County by making funding available for the acquisition and preservation of improved land for rental housing that is either market affordable or affordable through rent restrictions.

By August 1, 2023, interested developers are to submit the requested documentation in the RFQ. Staff will review and create a list of certified developers for approval by the Board of Supervisors. If approved, developers will be certified and eligible to receive funding priority to RHAP for consideration for 12 months. 

Submit electronic copies of the following required documentation by email.

  • Brief narrative (1-2 pages) describing managerial and organizational capacity to acquire, operate, and develop affordable rental housing. Include a description of the organization’s financial capacity and constraints on its ability to acquire, operate, and develop affordable rental housing. 
  • Developer’s organizational chart. If a nonprofit organization, please provide staff chart showing roles.
  • Resumes for who would be involved in any funding applications.
  • Disclosure of each principal’s participation on previous or same year affordable housing applications or projects within or outside the county, including the status of those projects, the demographic being served, and support services provided, if any. In the case of nonprofit organizations, provide brief, but substantive, information about its mission or purpose, population served, and a summary of existing projects or programs developed/administered by the organization.
  • Virginia State Corporation Commission’s certification of good standing of expected ownership entity and developer and manager entities. If a nonprofit organization, please submit the section 501(c)(3) Determination Letter.
  • Applicant financial statements, with analysis of the organization’s financial position and its ability to support acquisition projects. 
  • Letter from each member of the team, certifying that he/she is not or has not been debarred from participation in any federal program nor have any unresolved default or noncompliance issues with the County of Loudoun or the Commonwealth of Virginia.

Review the County of Loudoun Rental Housing Acquisition and Preservation Loan Program Guidelines (PDF) approved by the Board of Supervisors in January 2022.

For more information about the RHAP program, please e-mail DHCD. 

RHAP Program Overview

The Rental Housing Acquisition and Preservation Loan Program (RHAP) aids in funding the acquisition and preservation of existing multi-family rental housing developments within the county to help address the unmet rental housing needs of county households and to preserve market affordable housing and rent-restricted housing in danger of conversion to market-rate housing. 

  • The RHAP Loan Program is designed to preserve and increase the supply of affordable multi-family rental housing in Loudoun County.
  • The Program is funded by Board appropriation. 
  • The loans help bridge the funding gap for the acquisition of below-market multi-family rental developments.
  • Loan funds may be used for real estate acquisition costs directly linked to preservation of market affordable or affordable rent-restricted units. 
  • Developments must provide either 20% of units that are affordable at 50% Area Median Income (AMI) or 40% of units that are affordable at 60% AMI. 
  • Developments must keep those units affordable for 30 years.
  • Once approved by the Board of Supervisors, developers will remain certified for 12 months.
  • Pre-qualification opportunities will be issued annually.
  • Review the County of Loudoun Rental Housing Acquisition and Preservation Loan Program Guidelines (PDF).

2022-2023 RHAP Certified Developers

  1. Arlington Partnership for Affordable Housing
  2. Enterprise Community Development
  3. Fairstead 
  4. Green Street Housing/Good Works 
  5. SCG Development 
  6. Wellington Development