An income-restricted senior apartment building being constructed in Gloucester will receive $260,000, part of more than $24 million in Affordable and Special Needs Housing loans from across Virginia unveiled by Gov. Ralph Northam on Monday.

Last summer, Bay Aging broke ground on Daffodil Gardens Phase II, which is being constructed adjacent to the original Daffodil Gardens. The Phase II project will support construction of 40 apartments in a single, three-story building served by an elevator. The building is located less than a mile from Riverside Walter Reed Hospital and numerous other services and shopping.

October 2021 is the contract completion month for the project and Bay Aging said it hopes to be able to hold a big in-person event at that time to celebrate the grand opening.

Overall, the 28 projects across the commonwealth receiving the flexible, below-market-rate loans will create or preserve 1,635 affordable housing units for low-income Virginians. The funding will h...