The 2019-2020 Qualified Allocation Plan (QAP) approved by the Virginia Housing Development Authority is now available. Depending on geography, the per unit costs range for new development from $215, 450 to $387,809 (plus an additional $43, 090 per unit if the project includes underground or structured parking) and from $166,204 to $338,564 for acquisition/rehabilitation. The developer fee is set at $5 million or 15 percent of the total development cost, as determined by the agency. The Total Credit is divided into the following pools:

  1. Nonprofit – 15%
  2. Local Housing Authority – 15%
  3. New Construction – 15% (funded with 15% of the next year’s annual credit authority)
  4. Northern Virginia – 18.02%
  5. Northwest/North Central Virginia – 9.2%
  6. Richmond MSA – 11.63%
  7. Tidewater MSA – 17%
  8. Balance of State – 14.15%
  9. At Large – unreserved credits from all pools except for pool 3

The new QAP will be implemented on January 1, 2019. The 2019 manual and corresponding documents will be uploaded to this website by the end of December.