Albemarle County
“When the Albemarle Board of Supervisors rezones land for a
new residential development, county policy requires developers to designate a
portion of the units as affordable. Since 2000, the policy has created a
potential of more than 1,200 homes that are restricted to families or
individuals with an annual income less than 80 percent of the area’s median. However,
very few actually have been purchased by qualified buyers, nor have many been
built. ‘Developers don’t really like to build those units,’ said Mark Watson,
director of development for the Piedmont Housing Alliance.
Instead, builders have the option to pay cash to avoid the
requirement, with the proceeds going to affordable housing programs, such as
down payment assistance, run by the county. Watson said many developers prefer
to contribute cash because they cannot make as much of a profit for selling a
smaller house. However, one developer is working with Watson on a pilot project
that could lead to more such units being built, increasing the county’s stock
of affordable housing.”
~Writes Sean Tubbs of Charlottesville
Tomorrow
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