Rental Housing Acquisition & Preservation Loan Program

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 Loudoun County Rental Housing Acquisition and Preservation Loan Program Guidelines (PDF).

2023-2024 RHAP Certified Developers

  1. Agorsor Equity, LLC
  2. Arlington Partnership for Affordable Housing, Inc. (APAH)
  3. Enterprise Community Development, Inc.
  4. Fellowship Square Foundation Incorporated / Joseph Browne Development Associates, LLC
  5. Green Street Housing, LLC / Good Works, LP
  6. Homes for America, Inc. / Homes Development Corporation
  7. LDP Holdings, LLC (dba Jair Lynch Real Estate Partners)
  8. Michaels Development Company I, LP
  9. Pennrose, LLC
  10. SCG Development Partners, LLC
  11. The NHP Foundation
  12. Volunteers of America National Services
  13. Wellington Development Partners, LLC

For More Information

Email Housing Finance Project Manager Janice Chan