Affordable Housing: A Critical Issue for Communities
NVRC Grants Help Support 300+ Units in Region
Housing is a basic human need, and access to affordable housing is essential for the well-being and stability of individuals and families. However, in communities the high cost of housing is putting this basic need out of reach for an increasing number of people.
In July 2021 the Northern Virginia Regional Commission was the recipient of a $3 million grant from Virginia Housing to create 30 new affordable housing units by July 2024. Working with the affordable housing community in the region we are track to exceed that total by tenfold with an estimated 300 +/- new housing units supported by this grant.
Affordable housing is crucial for several reasons.
Firstly, it provides individuals and families with a safe and stable place to call home, reducing the risk of homelessness and improving their quality of life. When people have a secure home, they are able to focus on other aspects of their lives, such as education and employment, which in turn contributes to their overall well-being.
Secondly, affordable housing helps to create vibrant and sustainable communities. When people have access to affordable housing close to their work, schools, and social services, they can reduce their transportation costs and make the most of the resources available in their communities. This also helps to mitigate the effects of sprawl and protect the environment.
Finally, affordable housing is essential for economic growth and stability. When people have access to affordable housing, they have more disposable income to spend on other goods and services, which stimulates local economies and creates jobs.
The Metropolitan Washington Council of Governments, which represents local governments in the Greater Washington area, established affordable housing targets for localities to achieve. By working together, we can create vibrant and sustainable communities that provide individuals and families with safe and stable homes and drive economic growth and stability.
About the Northern Virginia Regional Commission
NVRC is a consortium of thirteen local governments representing more than 2.5 million residents. The region has a GDP of $251 Billion which is 41.4% of the GDP of the Commonwealth of Virginia. Northern Virginia’s GDP is larger than 26 states and if a country would be the 46th largest economy in the world.