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Barkin: Affordable housing key to rural economic growth
Richmond Fed President and CEO Tom Barkin said affordable housing and workforce investment are driving population and economic growth in small towns across the Fifth District.
60,000 Americans to lose their rental assistance and risk eviction unless Congress acts
Moments after Daniris Espinal walked into her new apartment in Brooklyn, she prayed. In ensuing nights, she would awaken and touch the walls for reassurance — finding in them a relief that turned to tears over her morning coffee. Those walls were possible through a federal program that pays rent for some 60,000 families and […]
Riverdale project moves forward in Roanoke
Work on the $50 million-plus Riverdale mixed-use redevelopment planned for more than 126 acres on the sprawling former campus of American Viscose, a rayon plant that closed in the late 1950s, is moving right along. Developer Ed Walker shared a lengthy written update on the project Jan. 24 that included a rendering of a 267-unit […]
Roanoke EDA delivers on Artspace funding
Artspace, a Minnesota-based nonprofit that develops affordable housing for artists and creative spaces, plans to build a mixed-use affordable housing project for artists and their families in Roanoke, at the massive Riverdale redevelopment project planned for the Southeast quadrant of the city. “This will be their first Virginia project,” Duke Baldridge, vice-chair of the Roanoke [&helli[...]
NoVa residents feel pressure to pay high rent, mortgages
A spring survey showed more than half of residents polled in the greater Washington, D.C., area are concerned with making rent or mortgage payments in 2023, highlighting the lack of affordable housing in the nation’s fourth largest metropolitan area. Fifty-two percent of D.C., Maryland and Virginia residents polled by Gallup and the nonprofit Greater Washington […]
Artist housing developer considers Roanoke for first Va. project
Roanoke developer Ed Walker first tried to lure Artspace, a Minnesota-based nonprofit real estate developer for the arts, to Roanoke in the early 2000s when he was transforming a former 1925 cotton textile mill into downtown living spaces. Artspace essentially ghosted him back then. “It’s very, very, very, very difficult to get Artspace’s attention and […]
231-unit affordable housing development coming to McLean
Construction will begin immediately on the 231-unit first phase of an affordable housing development in McLean backed by Amazon.com, SCG Development announced Wednesday. Located at 1750 Old Meadow Road, Somos at McLean Metro will be developed in two phases. In the first phase, Tysons-based SCG Development will demolish an abandoned office building on the property […]
Breeden Construction completes Newport News apts.
Richmond-based Breeden Construction has finished work on the Lift & Rise on Jefferson, a community with 81 townhomes and garden-style apartments in Newport News. The $18.5 million project, done for the Newport News Redevelopment & Housing Authority and Pennrose, a Philadelphia-based developer, started in June 2021 with cleanup and preparation of land on Jefferson Avenue […]
Communities must rally to solve housing issues, Barkin says
Homeownership is becoming increasingly unattainable for too many workers, and communities are going to need to make innovative decisions to create more affordable housing if they want to attract talent, Federal Reserve Bank of Richmond President and CEO Tom Barkin said Wednesday during the Virginia Governor’s Housing Conference in Hampton. Barkin said the nation’s housing crunch [&hel[...]
Hospitality | Tourism 2023: DOUG BRADBURN
Bradburn has been leading the most popular historic estate in the U.S. since 2018. The historic home of the first U.S. president and his wife, Martha Washington, welcomes an average of 1 million visitors each year. An author and scholar of early American history, Bradburn joined Mount Vernon in 2013 as the founding director of […]
Virginia Housing CEO to retire
Virginia Housing CEO Susan Dewey will retire Dec. 31, after 24 years heading the Richmond-based authority. “Under Susan’s leadership, Virginia Housing made critical and timely strategic changes over the years to position us for success,” Bill Shelton, chairman of the Virginia Housing Board of Commissioners, said in a statement released Tuesday. “We thank her for […]
Innovation, capital key to rural growth, Barkin and Warner say
There’s hope for economic growth in rural areas despite their challenges, Federal Reserve Bank of Richmond President and CEO Tom Barkin and U.S. Sen. Mark Warner said Wednesday during the Fed’s 2023 Investing in Rural America conference in Roanoke. Rural areas could overcome economic development challenges, particularly housing shortages and lack of broadband access, with innovation, [...]
