Foss & Company Closes Goodson Hills, a 23-Unit Affordable Housing Development in Bristol, VA

BRISTOL, Va., July 16, 2025 /PRNewswire/ -- Foss & Company, a leading tax equity syndicator, today announced the successful closing of Goodson Hills, a newly constructed, townhouse-style apartment community in Bristol, VA. This 23-unit development will serve low-income families and marks Foss & Company's first investment under the Virginia Housing Opportunity Tax Credit (HOTC) program.

Developed in partnership with VCDC, a nonprofit syndicator dedicated to creating and preserving affordable housing across Virginia, Goodson Hills addresses a critical housing shortage in the area. With the affordable housing waitlist in Bristol nearing 900 families, the project will significantly increase the availability of quality housing for the region's low-income population. Each of the 23 units will be subsidized under a Housing Assistance Payment (HAP) contract with the Bristol Redevelopment and Housing Authority (BRHA).

Residents of Goodson Hills will also benefit from access to BRHA's EnVision Center, a comprehensive resource offering services in economic empowerment, educational advancement, health and wellness, and leadership development.

"This project is a critical response to the pressing need for affordable housing in Bristol and reflects our commitment to impactful, community-focused investments," said Eric Brubaker, partner and managing director of real estate, Foss & Company. "Partnering with VCDC on Goodson Hills also marks a major milestone as our first engagement with the Virginia HOTC program, showcasing the power of collaboration in delivering long-term community value."

"VCDC would like to congratulate the staff of Beyond Housing, the housing authority of the City of Bristol, for their hard work, dedication and vision in making the Goodson Hills project come to fruition," said Jeff Meyer, Senior Development Officer at VCDC. "Thanks also to the many partners that collaborated to organize the financing including Virginia Housing, Foss and Company, the Bank of Tennessee and the Virginia Department of Housing and Community Development."

The Virginia HOTC program offers a 10-year credit stream, significantly longer than the traditional Virginia Historic Tax Credit structure. Upon completion, Goodson Hills is expected to generate $10,909,830 in Virginia HOTCs.

ABOUT FOSS & COMPANY

Founded in 1983, Foss & Company is a national tax equity investor and fund sponsor that has deployed over $9 billion in tax equity on behalf of insurance, banking, and other large corporate clients into historic rehabilitation projects, renewable energy, and advanced energy production facilities. Foss & Company is a full-service advisor with proven expertise in helping its partners navigate the world of tax equity investments. For more information about Foss & Company, please visit www.FossandCo.com.

ABOUT VCDC

Virginia Community Development Corporation (VCDC) is dedicated to fostering vibrant communities by providing innovative financial solutions and expert guidance to support affordable housing and economic development initiatives across Virginia. Since its inception, VCDC has played a crucial role in facilitating investments that promote social impact, economic growth, and long-term community stability. For more information about VCDC, please visit www.vibrantcommunities.us.

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SOURCE Foss & Company