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Hampton Roads Ventures, LLC
Norfolk VACDFI Awards for Hampton Roads Ventures, LLC
NMTC (2009) - $60,000,000
Hampton Roads Ventures (HRV) will use its NMTC allocation to finance community economic development real estate projects. By lowering borrowing costs and offering loans to entities not served by the market, HRV will fund mixed-use developments, community facilities, and small business centers. Through its investments, it seeks to facilitate opportunities for residents of low-income communities to become co-owners of the major commercial real estate assets in their communities. In addition, it aims to spark the revitalization of the often severely distressed communities around local Historically Black Colleges and Universities.
NMTC (2007) - $50,000,000
Hampton Roads Ventures (HRV) will target its NMTC investments to real estate projects that are often crucial to spur community revitalization efforts, including community, medical, and hospitality facilities; mixed-use projects; for-sale housing; and historically and architecturally significant structures that often served as cultural icons for lower income communities. HRV will use its allocation to provide highly flexible financing products tailored to specific project needs, including subordinated debt, below market interest rates, higher loan to value ratios, and longer interest-only periods. HRV will work in collaboration with several Virginia-based CDFIs to help increase the availability of NMTC investment opportunities in rural Virginia.
NMTC (2005) - $35,000,000
Through NMTC, Hampton Roads Ventures, LLC(HRV) will be able to bring innovative financial products to lower-income communities throughout Virginia, including debt with equity features, subordinated debt, and debt with interest rates of up to 300 basis points less than the prevailing market rates.
Other Community Development Financial Institutions in Virginia
123 New Market Investors, LLC
Great Falls
Business Seed Capital, Inc.
Roanoke
ECDC Enterprise Development Group
Arlington
Hampton Roads Ventures, LLC
Norfolk
Lynchburg Community Loan Fund
Lynchburg
Minerva Seed Fund
Fairfax City
NCB Capital Impact
Arlington
New Enterprises Fund, Inc.
Christiansburg
Piedmont Housing Alliance
Charlottesville
Southside Development Enterprises, LLC
Portsmouth
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