Home Consortium program creating affordable housing for NRV - WSLS 10 NBC in Roanoke/Lynchburg Va

Home Consortium program creating affordable housing for NRV

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BLACKSBURG (WSLS) - The Home Consortium program is bringing affordable housing to the New River Valley despite major funding cuts.

The housing program includes Floyd, Giles, Montgomery and Pulaski counties, and the City of Radford.  When it first began back in 2007, the program was receiving about $1 million in funding from HUD.  Last year, they only received about $556,000.  

Despite these cuts, 343 housing units have either been completed or are underway, and each year they have taken on more projects than the year before.

Housing leaders say this is largely because they have learned to be more efficient in their planning, and also in finding funding from other sources.  For each HUD dollar the consortium has received, they have been able to leverage an additional $6 from other places, such as tax credits and federal or state funding.  

They have partnered with a number of organizations along the way on various housing projects, including Habitat for Humanity and Community Housing Partners.

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