RICHMOND, Va. -- Virginia Union University has received a major investment for their campus after the Steinbridge Group selected the school as its first HBCU partner.
As a result, the group is investing $42 million for economic development which will be used to create nearly 200 affordable homes on unused land owned by the university.
Steinbridge officials said the goal is to make sure everyone has equal access to affordable housing.
Officials with the school said this is the largest investment they've ever received and that the project will create jobs and increase the university's endowment.
Construction will start at the end of this year and should be completed by the end of 2025, officials said.
Do you know about a good news story happening in your community? Click here to email WTVR.com and the CBS 6 News team.
