Valley Affordable Housing Corp

About Us

Valley Affordable Housing Corp. (VAHC) is a private non-profit 501(c) (3) organization created over twenty years ago to develop, own and manage safe, sanitary and suitable affordable housing properties for income qualifying individuals. The activities of VAHC are overseen by a nine-member volunteer Board of Directors. Four of the current Board members were instrumental in the organization’s initial incorporation, and have served continuously on the Board since its inception.

VAHC is an independent and self-sufficient organization that continues to completely support and finance its operations with development fees and management fees it earns through its activities.

VAHC has received recognition over the past 20 years for its developments and activities, including both new construction and historic restoration and renovation projects.

These projects were developed primarily through the use of a number of individual, independent and wholly owned subsidiaries of VAHC, each using a layering of multiple financing sources including Low Income Housing Tax Credits, State and Federal Historic Tax Credits, HUD section 202 grants, HOME Program funds, Thresholds Program funds through the State Department of Mental Health, Retardation and Hospitals, RI Housing Lead and Federal Home Loan Bank AHP Program Funds, conventional bank financing and HUD Project based and Project Based Voucher rental subsidy contracts.

VAHC has been recognized by Preserve Rhode Island, the Statewide Trust for Historic Preservation and the Rhode Island Historic Preservation and Heritage Commission for several of its developments that involve historic properties, and, on two occasions, it was awarded Rhode Island Housing and Mortgage Finance Corporation’s Affirmative Action Award for “outstanding participation of women and minorities in construction projects financed by RI Housing”. It also received a “Partnership Award” from the Fogarty Center for providing employment opportunities for Fogarty’s clients at several VAHC developments.

VAHC has always managed the properties it developed, initially in its own name, but then transferred all of its property management operations to its wholly owned subsidiary, Pinnacle Property Management LLC.