Prince William County, May 2026 – The Office of Housing and Community Development has released its first Notice of Funding Opportunity for the Affordable Housing Fund (AHF), inviting applications from eligible nonprofit and for‑profit developers until July 1, 2026.
The AHF is designed to expand access to affordable rental and homeownership opportunities for residents earning at or below 80% of the Area Median Income (AMI), as defined by the U.S. Department of Housing and Urban Development (HUD).
Funding will be provided as flexible gap financing, covering the difference between available project financing and total development costs. Offered as a repayable second trust lien, the financing will carry a fixed interest rate with repayment terms of up to 30 years.
Applications will be reviewed by the Housing Application Review Team, which includes representatives from multiple county departments. Approved projects will be forwarded to the county executive for reservation of funds.
The timeline includes a submission deadline of July 1, 2026, final review in September, and anticipated award announcements in October 2026.
Joan Duckett, Director of Housing and Community Development, emphasized the importance of the initiative: “Prince William County’s Affordable Housing Fund helps create opportunities for developers to partner with the county to deliver high‑quality, affordable housing that meets a critical community need.”
By providing gap financing, the county aims to make projects more financially viable while expanding access to safe, stable, and affordable housing for residents and members of the local workforce.
