(Richmond) — The Tobacco Commission is kicking off a program to help with the housing crunch in the region.
They’re working with state agencies to launch the Economic Development Workforce Housing Incentive Pilot Program. They’re committing two million dollars to the effort.
The goal is to incentivize localities and employers to develop affordable housing options. Localities can submit developer proposals to the Tobacco Commission. They will review them the same way they review businesses who apply for grant money, and award grants based on merit.
Danville Delegate Danny Marshall says this will help people who fall in between affordable housing programs and the upper-scale developments. “In Southern Virginia we have had great success building our economy over the last decade or so by attracting new businesses and adding thousands of jobs,” Marshall said. “I want to see that growth continue, and I believe it can, but those workers are going to need places to live. We need to find solutions for the “missing middle,” those who fall into the gap between affordable housing programs and the housing that many developers choose to build that, in today’s market, is often too expensive for working families.”
Any funds granted will require a local match. The grants are available to owner-occupied and rental developments in the cities and counties that make up the Tobacco Commission’s geographic footprint.
“This program offers an opportunity to bring together state agencies, local government and the private sector to generate innovative solutions so we can continue to attract the jobs of the future to Southern Virginia,” Marshall added.
Housing analysts say the Danville-Pittsylvania County area has a large housing deficit, particularly in available rental units. The city used a recent summit to market some possible solutions. The summit had information about housing projects currently underway, single and multi-family development opportunities in the area, and available local, state and federal funding.
“This pilot program was created after listening closely to the communities we serve as they expressed their needs, and in support of Governor Youngkin’s push for increased availability of affordable housing,” said Tobacco Commission Executive Director, James Campos. “I am certain that, working with Virginia’s housing community, our local partners, the private sector, and others, we can find solutions that will meet the needs of Southern and Southwest Virginia and allow us to continue bringing great opportunities to the Commission footprint.”