Virginia Supportive Housing and Better Housing Coalition Halt Merger Plans
The boards of directors of Virginia Supportive Housing (VSH) and Better Housing Coalition (BHC) executed a formal agreement to merge in December 2021. In January 2022, leadership staff from both organizations began work towards integrating staff and systems, and creating a new name and identity for the combined organization. This work continued through June.
Concurrently, executive teams and legal representation began high-level work on the new combined organization’s legal structure.
During the restructuring process, it became clear that the creation of a new entity could put at risk some federal funding streams on which both legacy organizations have long relied. This funding helps underwrite the growth of real estate development, resident programs, and operations for both VSH and BHC.
With no guarantees of this funding going forward, the sustainability of the new entity would be at risk, as could the wellbeing of our respective assets, residents, and 34-year legacies. Weighing all factors, the boards of both BHC and VSH agreed to amicably dissolve the merger agreement in September.
Both BHC and VSH are strong, mission-based organizations committed to increasing equitable access to service-enriched, affordable housing in our region. Many new relationships were formed during the due diligence process, and valuable lessons learned. As we move forward separately, we will continue to look for ways to work together to enrich our region, and provide safe, affordable homes to the ever-growing number of individuals, families and seniors in need of our services.
Joint statement from Virginia Supportive Housing and Better Housing Coalition.