Housing Virginia recently announced that it was awarding the HRPDC $3 million for new regional housing initiatives. The award is part of Housing Virginia’s $40 million in grants to Virginia’s PDCs for the creation of new housing initiatives across the state. This new source of funding will help the HRPDC and Virginia’s Planning District Commissions provide more affordable housing.
“We are proud to provide these grants to Virginia’s 21 PDCs,” said Virginia Housing CEO Susan Dewey. “We have a close working relationship with these organizations, and this grant program will build upon that partnership by promoting regional approaches to housing development, enhancing collaboration between local housing service providers, and creating new affordable homes.”
The grants are to be used for a number of local housing needs identified by the PDCs, including financing new affordable homeownership opportunities, renovating vacant and blighted properties, supporting the development of a regional housing trust fund, and creating upper-story housing in downtown business districts.
“Locally, we’re working to identify potential projects and partners in the region that can increase rental and homeownership opportunities for our region’s workforce,” said Shernita Bethea, HRPDC Housing Administrator. “Projects such as: mixed income -mixed use development; rental housing development, as well as first-time home buyer new construction could be among those funded that increase housing options during the three-year grant period.
The $40 million grant program is a new initiative provided through Virginia Housing’s REACH Virginia program. The program uses Virginia Housing’s own resources to provide support to local housing groups, non-profits, developers and other partner groups working to meet affordable housing needs.