Page County Part of State Effort to Expand Workforce Housing
RICHMOND, Va. — More than $15 million has been awarded through the Virginia Workforce Housing Investment Program to support middle-income housing development in 14 localities, including Page County.
The funding will support the creation of 550 workforce housing units and is expected to leverage more than $200 million in additional public and private investment.
“Through the Workforce Housing Investment Program, we’re expanding housing options for working families, strengthening local economies, and ensuring Virginians can live, work and raise their families in communities they’re proud to call home,” said Governor Glenn Youngkin.
Virginia Housing administers the Workforce Housing Investment Program, which is designed to increase the supply of workforce housing in areas experiencing new or expanding business activity.
The program provides loans, loan subsidies and grants to support housing development for homeowners and renters earning between 80% and 120% of the area median income, or up to 150% in rural areas.
Awards of up to $3 million are available to localities located within a defined radius of a new or expanding business that announced qualifying job growth within the previous fiscal year.
“Access to housing is vital to economic competitiveness, and communities that provide homes for their workforce are gaining jobs and spurring private investment,” said Secretary of Commerce and Trade Juan Pablo Segura.
“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.
In October, Youngkin announced an accelerated second round of program funding, along with several enhancements.
Changes included expanding eligibility for rural communities, increasing flexibility for matching funds, and refining program guidelines to better leverage available resources.
Youngkin first announced the creation of the Workforce Housing Investment Program during the 2024 Virginia Governor’s Housing Conference.
The initiative was introduced in conjunction with Executive Order 42, which formally links economic development announcements to workforce housing availability across the commonwealth.
By investing in the power of home, Virginia Housing transforms where and how thousands of Virginians live and thrive, strengthening communities and the economy. Virginia Housing has worked for over 50 years in partnership with the public and private sectors to help Virginians attain quality, affordable housing.
While receiving no state taxpayer dollars, Virginia Housing raises money in capital markets to provide mortgages to first-time homebuyers, financing for rental developments and neighborhood revitalization efforts.
Virginia Housing invests in innovations in affordable housing and makes homes for people with disabilities and older Virginians more livable.
To learn more, visit VirginiaHousing.com.