Ten Projects Receive Workforce Housing Investment Program Funding

• Washington County/Mount Rogers Planning District Commission
  King Mill Pike | $3,000,000
  
  
• City of Suffolk
  Peanut Crossing Phase II | $3,000,000
  
  
• City of Winchester
  Winchester Grove | $3,000,000
  
  
• Industrial Development Authority of Halifax (Town of South Boston)
  Community Housing Partners | $2,000,000
  
  
• City of Danville
  Morotock Lofts | $1,824,000
  
  
• City of Harrisonburg
  Flats at West Market | $1,223,813
  
  
• Housing Alexandria (City of Alexandria)
  Seminary Road | $1,080,000
  
  
• New River Valley Regional Commission (Town of Blacksburg)
  Prices Fork Elementary | $923,888
  
  
• Mount Rogers Planning District Commission (City of Bristol)
  Wagner Road | $480,000
  
• 
  Joint Industrial Development Authority of Wythe County (Town of Wytheville)
  140 South First Street | $400,000
  
  

Across the Commonwealth, workers that form the backbone of Virginia’s communities and economy — firefighters, hospitality workers, public servants, nurses and more — are having an increasingly difficult time affording housing in the same community where they work. The housing projects associated with this announcement will create 740 workforce housing units and generate over $254 million in private investment. Every dollar will help to address a critical need for more housing for Virginia’s middle-income households.


The Workforce Housing Investment Program takes an innovative approach to housing development by ensuring public and private sectors partner together so that housing development keeps pace with job growth in Virginia – a must if we are to cultivate a skilled workforce.

 

“These projects represent the strategic collaboration that this program promotes to create more affordable housing for our middle-income families,” said Virginia Housing CEO Tammy Neale. “Through Virginia Housing’s investment, Virginia is affirming its place as a national leader in housing innovation, which will spark new businesses and industries, as well as the new jobs and other investments they bring to Virginia.”




Virginia Governor Glenn Youngkin announced this year’s awardees at a special event on May 21 in downtown Harrisonburg. In the city of Harrisonburg, the locality will receive over $1.2 million to support the Flats at West Market, which will convert a current office building into 81 rental apartment units. This addition to Harrisonburg’s housing stock will support the growing workforce needs in the region and bring new life to this downtown building. In addition to the Virginia Housing investment, the project will spur more than $6.7 million in additional public and private investment.




“Through this new innovative program, we are catalyzing workforce housing construction by partnering with the private sector and local governments,” said Governor Glenn Youngkin. “The efforts through our Workforce Housing Investment Program are supporting housing affordability, availability and accessibility for a growing Virginia.”




The Workforce Housing Investment Program makes up to $3 million available for localities within a 30-minute drive of a new or expanding business, and the amount rises to $5 million if the business will include 500 jobs or more. The program also emphasizes underserved communities and first-time homebuyers. In total, the Workforce Housing Investment Program commits $75 million over five years with the potential to catalyze $750 million and build 5,000 units of workforce housing in conjunction with economic development projects in the Commonwealth.




New grant cycles are set to open each year through 2029. Please stay tuned for more information!

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Pictured above, from right to left: Virginia Governor Glenn Youngkin with  Shenandoah Valley Partnership Executive Director Jay Langston; Virginia Deputy Secretary of Commerce and Trade Maggie Beal; Virginia Housing CEO Tammy Neale; property owner and developer David Rao; Harrisonburg Mayor Deanna Reed; and Harrisonburg Downtown Renaissance Executive Director Andrea Dono.