RICHMOND, Va. (CBS19 NEWS) -- Multiple projects in Albemarle and Orange counties are getting some funding.

On Wednesday, Governor Glenn Youngkin announced more than $129 million in loans to help organizations across Virginia with affordable and special needs housing.

According to a release, these loans are going toward projects that will create and preserve more than 5,300 total units for low-income and extremely low-income households.

“Ensuring accessible and affordable housing for Virginians isn’t just a basic requirement, it’s a strategic pillar for our state’s continued success,” said Youngkin. “By keeping homes affordable and available, we are cultivating economic growth, strengthening our communities and laying the foundation for a thriving Virginia.” 

The Virginia Department of Housing and Community Development administers the Affordable and Special Needs Housing loan program.

It uses one comprehensive application process to give access to state and federal resources.

Those resources usually come from four main sources: the federal HOME Investment Partnerships Program, the federal National Housing Trust Fund, Housing Innovations in Energy Efficiency, and the Virginia Housing Trust Fund.

The Virginia Housing Trust Fund gets its money from the Commonwealth to support financing for housing construction projects, creating or preserving affordable housing units, reducing the cost of affordable housing, and increasing homeownership.

Specifically, this funding is a major source of funding for initiatives to support moderate and low-income families and homeless reduction grants to provide rapid re-housing and longer-term housing solutions for those experiencing chronic homelessness.

“Accessible and affordable housing is foundational to building a flourishing economy, and our commitment to meeting this essential need is unwavering,” said Secretary of Commerce and Trade Caren Merrick. “These initiatives will not only expand and improve our affordable housing inventory but will also contribute to fostering a more resilient and prosperous Virginia for all.” 

In total, there are 78 projects out of 87 applications that are receiving funding in this round.

Locally, the Piedmont Housing Alliance is getting several loans for multiple projects.

PHA is getting $3.4 million for its Cherry A project and another $3.4 million for the Cherry B project.

It is also getting $2.8 million for phase II of the Friendship Court/Kindlewood.

Over on Park Street, PHA is getting $2.2 million for 1025-B Park Street and another $1.8 million for 1025-A Park Street.

Habitat for Humanity of Greater Charlottesville is getting $1.8 million for work on the Rentals I, $700,000 for the Village 3 single-family, and another $700,000 for the Village 3 townhomes at the Southwood redevelopment.

Community Services Housing Inc. is getting $900,000 for a housing project on Northeast 11th Street.

And in Orange County, the Rappahannock Rapidan Community Services Board/Encompass Community Supports is getting more than $2.87 million for an apartment project on Madison Road.

Other localities with projects that are getting funding include Arlington County, Suffolk, Augusta County, Alexandria, Richmond, Prince William County, Stafford County, Norfolk, Loudoun County, Petersburg, Lynchburg, Covington, Staunton, Henrico County, Russell County, Winchester, Falls Church, York County and others.

To see the full list of projects, click here.