From left: Sue Armstrong, Andrea Diggs, Dottie Holmes and Joy Cipriano of Hampton-Newport News Community Services Board and Craig Gooch with Community Housing Partners at the New Phoenix Village project in Newport News. Photo courtesy of VCC.
A lender with offices in Richmond and Christiansburg has expanded east.
Virginia Community Capital, a nonprofit community development financial institution that owns a for-profit, state-chartered bank, opened its first location in the Hampton Roads market on Oct. 1.
The organization and its Community Capital Bank of Virginia provide loans on real estate developments and for other projects, with an emphasis on those that cater to low- to moderate-income individuals in underserved markets. The organization keeps an office downtown on Franklin Street and has had a hand in financing real estate projects around Richmond, including renovations to the William Byrd building and the apartment conversion of the Plant 1 building in Manchester.
Locally, VCC is based out of 100 W. Franklin St. Photo by Michael Schwartz.
Lisa Carnahan, a VCC spokeswoman, said the move to Hampton Roads will help the organization get closer to projects in that market, including two already in the works. VCC is the lender on the renovation of the New Phoenix Village apartment project in Newport News, which caters to disabled residents. And it recently issued a loan on a retail building in Virginia Beach.
“We’re looking where else would it make sense to have an office,” Carnahan said. “We have been doing work down there for a while and since we cover the entire state we’re always looking at opportunities to increase our footprint.”
VCC has set up shop on Granby Street in downtown Norfolk. It hired Thresa Joyce to lead the new office. She’s a former commercial real estate broker who previously worked for Cushman & Wakefield | Thalhimer. Two other employees have joined Joyce in Norfolk.
The expansion was also made possible by The Cabell Foundation. The Richmond nonprofit provided a $1 million grant to VCC to help get the new office up and running.
From left: Sue Armstrong, Andrea Diggs, Dottie Holmes and Joy Cipriano of Hampton-Newport News Community Services Board and Craig Gooch with Community Housing Partners at the New Phoenix Village project in Newport News. Photo courtesy of VCC.
A lender with offices in Richmond and Christiansburg has expanded east.
Virginia Community Capital, a nonprofit community development financial institution that owns a for-profit, state-chartered bank, opened its first location in the Hampton Roads market on Oct. 1.
The organization and its Community Capital Bank of Virginia provide loans on real estate developments and for other projects, with an emphasis on those that cater to low- to moderate-income individuals in underserved markets. The organization keeps an office downtown on Franklin Street and has had a hand in financing real estate projects around Richmond, including renovations to the William Byrd building and the apartment conversion of the Plant 1 building in Manchester.
Locally, VCC is based out of 100 W. Franklin St. Photo by Michael Schwartz.
Lisa Carnahan, a VCC spokeswoman, said the move to Hampton Roads will help the organization get closer to projects in that market, including two already in the works. VCC is the lender on the renovation of the New Phoenix Village apartment project in Newport News, which caters to disabled residents. And it recently issued a loan on a retail building in Virginia Beach.
“We’re looking where else would it make sense to have an office,” Carnahan said. “We have been doing work down there for a while and since we cover the entire state we’re always looking at opportunities to increase our footprint.”
VCC has set up shop on Granby Street in downtown Norfolk. It hired Thresa Joyce to lead the new office. She’s a former commercial real estate broker who previously worked for Cushman & Wakefield | Thalhimer. Two other employees have joined Joyce in Norfolk.
The expansion was also made possible by The Cabell Foundation. The Richmond nonprofit provided a $1 million grant to VCC to help get the new office up and running.