Affordable Housing Initiative

As part of President Ryan’s Great and Good Strategic Plan, UVA has committed to supporting the development of 1,000 – 1,500 affordable housing units on land in Charlottesville and Albemarle County using land owned by UVA or the UVA Foundation. The SIF award will cover consultant engagement, development and asset management advisory services, and legal and land transfer fees.  Affordable Housing website: https://prescouncil.president.virginia.edu/affordable-housing

The University of Virginia’s Affordable Housing Initiative (AHI) continues to progress towards affordable and sustainable housing solutions in the Charlottesville-Albemarle region. Eight milestones within the pre-construction phase are complete for two of the three initial sites for development. These milestones include: 1) convening of the Advisory Group; 2) site review and due diligence; 3) listening tour 4) endorsement and announcement of sites; 5) solicitation of community input on sites; 6) initial financial analysis and massing studies; 7) a formal Request for Proposals (RFP) process; and 8) selection of development partners for two of the three initial sites for development (see Figure 1 below).

This work included significant benchmarking; establishment of a model for development; creation of foundational, community-driven development principles; a formal selection process for development partners; and substantial negotiation and analysis of legal agreements to guide the project going forward and ensure that the units remain affordable and high-quality for the long-term.

Piedmont and Wertland & 10th St:

• The first two affordable housing developments (Piedmont in Albemarle County and Wertland & 10th St in Charlottesville city) are moving steadily ahead.
• The developers, Piedmont Housing Alliance (PHA), and Preservation of Affordable Housing (POAH) are working on pre-construction activities such as site assessments, community engagement, early design concepts, and rezoning.
• There is an ambitious plan for affordability at these sites for 100% affordable projects with an emphasis on 60%AMI and below.
• We are in close communication with our partners to navigate the federal landscape, which is creating changes in tariffs and funding that will impact affordable housing development.
• Each site is unique and continues to progress on its own timeline. The timing for construction depends on financing and entitlements. Based on conversations with the developers, construction likely will not commence before late 2026 at Wertland & 10th St and 2027 at Piedmont at the earliest.

Wertland & 10th St:

• POAH held a public hearing on Monday (2/24) for the community to ask questions and provide feedback. The event was well attended and included discussion about traffic concerns as well as specific aspects of the site plan.
• The city approved 1000 Wertland St as a revitalization area on 3/10. This designation will help POAH secure tax credits.
• The team submitted their low-income housing tax credit (LIHTC) application on 3/14.
• POAH/Grimm & Parker participated in a work session with the Board of Architectural Review (BAR) on 3/18.
• POAH hired KBS, Inc. for preconstruction general contracting.

Piedmont:

• Pre-construction activities include general site assessment and due diligence and coordination of complex utility ownership.
• PHA is preparing for the rezoning process. They are working on their phasing plan.
• Currently, PHA plans to apply for LIHTC in the spring of 2026. This plan assumes the rezoning is complete.

North Fork:

• North Fork is a very different site from the initial two properties in size and scale. Project phasing and affordability mix will look different at North Fork compared to Piedmont and Wertland & 10th St.
• A team is reviewing responses to the Request for Qualifications (RFQ) and will shortlist teams for invitation to respond to the Request for Proposals (RFP).
• Compared to the initial two properties, we anticipate more market rate and middle-income housing in addition to affordable at this site.