Roanoke, Virginia – In an effort to alleviate the burgeoning affordable housing crisis in Roanoke, the Roanoke Redevelopment and Housing Authority (RRHA) has procured a 12-acre plot in northwest Roanoke, near the intersection of Shenandoah Avenue and Peters Creek Road. The vision for the coming years involves leveraging this property to mitigate the housing deficit in the area.
David Bustamante, Executive Director of RRHA, expressed the challenges faced in acquiring suitable land in the city, either due to prohibitive costs or incompatible topography. However, with the successful acquisition of this property, the Authority is now equipped to begin addressing the housing shortage.
The property was initially owned by Virginia Housing and had multiple potential buyers. Bustamante commented on their successful bid: “We communicated to them about our shared mission to provide affordable housing and highlighted the urgency due to the prevalent crisis. We are grateful to Virginia Housing for choosing to sell us the property as having land is the first step towards resolving the issue.”
The RRHA bid amounted to $750,000 and Bustamante revealed that the first phase involves erecting an 86-unit complex featuring a variety of bedroom layouts. “The supply of affordable housing units continues to dwindle daily, while the demand escalates,” Bustamante said. “Though 86 units might not seem significant against the need, it’s a positive beginning towards a sustainable solution.”
He further confirmed that the new units will be subsidized and offered to those currently on the waiting list for affordable housing. “The strategy is to ensure these units are subsidized, then we will open up our waitlist, market it effectively and begin allocating the units based on preferences and other factors to the first 86 families.”
While RRHA now owns the 12-acre plot, Bustamante mentioned the presence of two additional parcels on the property which they may consider acquiring for future development. Provided the plan unfolds as expected, they anticipate the first families will be able to occupy their new homes by 2026.
Currently, RRHA provides services to more than 5,000 families within the Roanoke vicinity.
