Work Underway on New River Valley Housing Trust Fund

Other regional housing studies are underway for Southside, West Piedmont, and Central Shenandoah.

Thanks to a grant from Virginia Housing, the New River Valley Regional Commission has contracted with HousingForward Virginia for technical assistance to build a regional Housing Trust Fund (HTF). The program would be the first region-wide HTF in the Commonwealth.

So far, HousingForward’s team has interviewed other successful regional HTFs from across the country, seeking guidance and best practices for implementing what is more commonly a locally-focused resource region-wise. Currently, we’re designing a training curriculum intended for a new regional oversight team, which will begin to make decisions on the structure and operations of the proposed HTF.

Funded by the same Virginia Housing grant program, the Planning District Commissions of Southside, West Piedmont, and Central Shenandoah have all contracted the Virginia Center for Housing Research at Virginia Tech for regional housing needs assessments. HousingForward Virginia is partnering with VCHR for all three studies, just like we did in the New River Valley.

Initial visits to major towns within the three regions have been completed. Meetings with local housing providers were also conducted. Staff at the Virginia Center for Housing Research are currently compiling and analyzing housing data from the three regions. HousingForward will return to the studies once the analyses are complete to begin designing strategies and compiling best practices.

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