The New River Valley Housing Trust Fund (NRVHTF) was established to provide an additional and locally controlled source of funding for the development of affordable housing throughout the region. The NRVHTF is the first regional housing trust fund in the Commonwealth, with pilot funds provided by Virginia Housing under its PDC Housing Development grant. A first round of awards was made in 2023, assisting in the development of two rental development projects in the towns of Pulaski and Blacksburg.
Since then, the Regional Commission has pursued local funding for FY25, with an annual goal of $600,000 split 50/50 between local government and non-government partners. To date, all the local governments have committed funding; additionally, Virginia Tech and Carilion Clinic are also participating as funding partners. This is a tremendous milestone and represents the first time these partners have come together to commit funding towards housing at a regional level.
For more information contact Jennifer Wilsie, jwilsie@nrvrc.org.
New River Valley Regional Commission