CAAR Foundation Homeownership Breakfast

Written By Dave Norris

On May 28, 2025, the CAAR Foundation hosted a breakfast event to announce an exciting new collaboration that will make homeownership accessible for moderate-income families in the Charlottesville/Albemarle area.

The CAAR Foundation brokered a partnership between Greenwood Homes, Riverbend Development, the Piedmont Community Land Trust, Gray Fox Mortgage and Virginia Housing that is allowing 8 households under 80% of Area Median Income to buy brand-new homes at the Victorian Heights subdivision in Albemarle County. Homes appraised at $400,000 will be sold at $275,000 under this model, and will remain affordable into perpetuity. If this approach is successful, it can be replicated many times over.

Full video of the discussion can be found here. For copes of the PowerPoint slides, click here.

NBC News coverage of the event: https://www.29news.com/2025/05/28/new-effort-aims-make-homeownership-more-permanent-albemarle-county/

Dave Norris