The West Piedmont Planning District Commission learned back in December that it was awarded $1,000,000 in funding through the Virginia Workforce Housing Investment Program. A total of 14 communities will receive funding through the Workforce Housing Investment Program. More than $15 million in loans, loan subsidies, and grants will support 14 developments in close proximity to new or expanding businesses, available to people making between 80%-120% of the Area Median Income (AMI), or up to 150% in rural areas.
“This important investment will support our ongoing efforts to expand middle-income housing opportunities throughout our region,” said WPPDC Deputy Director Sean Campbell. “With these new resources, we are excited to help meet the needs of local families, strengthen our workforce, and foster vibrant, sustainable communities across the West Piedmont area.”
The project will create over 100 new homes on a 43-acre site located in the Westlake area of Franklin County. This development aims to expand local housing options and support the county’s growing workforce and economic development goals.
“My partner, Court Rosen, and I are committed to being part of the solution to the housing crisis in Franklin, Henry, and Pittsylvania counties, as well as in the cities of Martinsville and Danville,” said Alexander Boone, owner of ABoone Development, who is a partner in this project. “Many people have worked hard to enhance the fast-growing Southside economy. It’s time for us to support this growth with workforce housing.”
According to Virginia Housing, in recent years, it has become increasingly difficult for Virginia’s workforce to afford housing that’s close to where they work. The housing developments associated with this announcement will create 550 workforce housing units and generate over $200 million in private investment. The funding provided in this round will create more housing for Virginia’s middle-income households.
“These projects showcase the strategic local and regional partnerships that are creating more affordable housing for middle-income families,” said Virginia Housing CEO Tammy Neale. “Virginia Housing’s investment reinforces the Commonwealth’s leadership in housing innovation and supports the growth of new industries and jobs across our great state.”
