Williams Mullen Advises Franklin Group Companies on First Two Projects in Virginia Beach’s new Affordable Housing Grant Program

Williams Mullen attorneys Preston Lloyd and Gaby Brill, with transactional assistance from Elizabeth Chapman and Dana Joss, advised Franklin Group Companies in securing Virginia Beach’s first two Attainable Workforce Housing Performance (AWHP) Grants.

The two projects in the program include Grand Lake Senior Apartments, which will offer 172 homes for residents aged 62 and older. The other, Silo Apartments, will provide 200 units for households.

The AWHP grant program, launched in September 2025, provides annual grants calculated as a percentage of incremental real estate taxes generated by qualifying affordable housing developments. Grants are disbursed following project completion and upon fulfillment of specified city requirements. The Virginia Beach program was modeled on a similar program pioneered by the City of Richmond, based on input by the Williams Mullen team.

To learn more about the program and deals, please click here.