Regional Commission Announces Affordable Housing Awards
Grant will fund up to 71 housing units in Covington and Roanoke
Roanoke, VA (July 21, 2022) — The Regional Commission announced today the recipients of $1.35 million in funding from its Virginia Housing PDC Development Grant to create new affordable housing in the region. Landmark Asset Services, Inc, Restoration Housing, Roanoke City Redevelopment and Housing Authority and Habitat for Humanity of the Roanoke Valley will build a total of 71 affordable housing units in the region.
“Affordable housing is a critical issue for the livability of our region,” said RVARC Executive Director Jeremy Holmes, “we are pleased to partner with our community and Virginia Housing to increase housing opportunities for the region’s citizens.”
In 2021, Virginia Housing (VH), formerly Virginia Housing Development Authority, awarded $40 million in funding statewide to Virginia’s 21 Planning District Commissions to create or continue regional housing development programs. Virginia Housing has granted the Roanoke Valley-Alleghany Regional Commission $2 Million dollars to create affordable housing units in our region.
David Bustamante, Executive Director of the Roanoke Redevelopment and Housing Authority also expressed excitement. “As our region grows so does our need for affordable housing. This is an opportunity for us to expand not just our housing ecosystem but rise to meet the growing opportunities of the region itself.”
The Virginia Housing funds represent the largest grant that RVARC has ever administered and is a significant investment in the region. The grant program follows on the heels of last year’s comprehensive regional housing study, which identified housing needs such as gaps in market supply for certain income brackets and barriers to building and rehabbing in certain areas. The commission developed recommendations such as creating effective zoning and coordinating at the regional level to develop key infrastructure. The administering of this grant brings to fruition the commission’s recommendation that partners collaborate to meet the region’s housing needs.
For more information contact Elizabeth Elmore