Prince William County Opens Applications for Affordable Housing Fund Program
The Prince William County Office of Housing and Community Development has released its first Notice of Funding Opportunity and is now accepting applications through July 1 from eligible nonprofit and for-profit developers for the Affordable Housing Fund, or AHF, to support the development of affordable housing in Prince William County.
The AHF is designed to create and promote affordable rental and homeownership opportunities for county residents and members of the workforce with incomes at or below 80 percent of the Area Median Income, as defined by the U.S. Department of Housing and Urban Development, or HUD, for the Washington Metropolitan Statistical Area.
The AHF provides flexible gap financing for housing development projects that increase and preserve affordable housing units in Prince William County. Gap financing is defined as the difference between the total financing available for an affordable housing project, including equity investment, and the project’s total development costs. This financing helps cover funding shortfalls that cannot be met through conventional debt alone.
AHF gap financing is offered as a repayable second trust lien with a fixed interest rate and a repayment term of 30 years or less.
Applicants must demonstrate experience, capacity and additional funding sources necessary to develop affordable housing projects per program guidelines.
Applications will be reviewed and scored by the Housing Application Review Team, which includes staff from the Office of Housing and Community Development, Planning Office, Office of Management and Budget, Department of Finance and Department of Development Services. Applications that meet the scoring criteria and are approved for funding will be provided to the county executive for reservation of funds.
Application Timeline
- July 1, 2026, at 5 p.m. — Application submission deadline
- September 2026 — Final application review
- October 2026 — Anticipated announcement of awards
“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,” said Joan Duckett, Director of Housing and Community Development. “By providing flexible gap financing, the program helps make projects more financially viable for developers while expanding access to safe, stable and affordable housing for residents and members of our workforce.”
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