St. Thomas, VI – July 15, 2026 — Enterprise Community Partners and the Federal Home Loan Bank of New York hosted a workshop to explore strategies for strengthening partnerships and expanding access to capital for affordable housing in the U.S. Virgin Islands.
The event focused on three key areas: nonprofit partnerships, flexible capital, and developer collaboration. Participants - including nonprofit organizations, developers, government agencies, financial institutions, and housing stakeholders - shared challenges, explored innovative solutions, and identified opportunities to strengthen the territory’s affordable housing ecosystem.
Opportunities and Solutions Discussed
Strengthening Nonprofit and Developer Partnerships
Participants emphasized the value of partnerships between nonprofits and private developers to combine capacity, expertise, and resources. VIHFA shared updates on active Multifamily and R1 housing programs and an upcoming Homeless Housing Initiative. The discussion highlighted how nonprofit partnerships can help developers navigate complex funding processes and strengthen applications for federal resources.
The St. Croix Foundation’s fiscal sponsorship model was also highlighted as a potential approach for building organizational capacity and supporting similar efforts in St. Thomas and St. John.
Expanding Access to Flexible Capital
The need for first-dollar pre-development capital emerged as a central theme. Participants discussed resources including the VI Slice Program, FHLBNY Housing Development Advance, LIHTC, CDBG-DR, MIT, and USDA programs. While these resources provide important opportunities, stakeholders noted that differences in timing, eligibility, and restrictions can make it difficult to align funding with project needs.
Advancing Resilient Construction
Participants explored innovative construction approaches, including Insulated Concrete Forms (ICF) and hempcrete, as potential solutions for developing more resilient housing. The discussion emphasized the need to address building codes, insurance requirements, financing, and performance data when introducing alternative materials.
Building Stronger Partnerships
The workshop highlighted the importance of clear communication, transparency, accountability, shared resources, and equitable risk-sharing in successful partnerships. Participants also discussed Community Land Trusts, long-term ground leases, cooperative procurement, and incorporating social services directly into project budgets as strategies to strengthen affordable housing development.
Moving Forward
The July 15 workshop reinforced the importance of collaboration, capacity building, and flexible capital in advancing affordable housing across the U.S. Virgin Islands. By improving access to pre-development financing, strengthening partnerships, supporting resilient construction, and better aligning funding resources, stakeholders can help build a stronger pipeline of affordable and resilient housing that responds to the needs of communities across the territory. The workshop concluded with stakeholders identifying 13 commitments to action, reflecting a shared commitment to advancing these priorities and strengthening the territory’s housing ecosystem.
For the latest updates on grantees and upcoming activities, please visit the USVI Housing Ecosystem Development Grants Program webpage.
