Ten localities in Virginia will receive a share of nearly $17 million to support workforce housing development resulting in 740 housing units. The City of Harrisonburg received more than $1.2 million toward the redevelopment of a former office building. The Flats at West Market should increase affordable rental housing options for the regional workforce. In addition to Harrisonburg, other awardees were located in Washington County, Suffolk, Winchester, South Boston, Danville, Alexandria, Blacksburg, Bristol and Wytheville. Virginia Governor Glenn Youngkin made the announcement last week and said the projects will leverage more than $250 million in private investment. “Through this new innovative program, we are catalyzing workforce housing construction by partnering with the private sector and local governments,” said Youngkin. “The efforts through our workforce housing investment program are supporting housing affordability, availability and accessibility for a growing Virginia.” Virginia Housing administers the program which aims to increase the workforce housing supply in areas that have new or expanding businesses. The program provides loans, loan subsidies and grants to support communities developing housing for homeowners and renters in rural areas. Awards of up to $3 million are available to localities within a 30-minute drive of a new or expanding business where a qualified job announcement was made within the previous fiscal year. Up to $5 million is available for transformational projects of 500 new jobs or more. “These projects represent the strategic collaboration that this program promotes to create more affordable housing for our middle-income families,” said Tammy Neale, Virginia Housing CEO. “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.”
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