News Release

RICHMOND — Housing developers are getting a new tool to use to increase housing stock.

The Housing Accelerator Program will provide grants, with a maximum award of $250,000 per project, to support public infrastructure projects in existing, unfinished, platted subdivisions. Infrastructure includes, but isn’t limited to, the build out of public streets, roads, sidewalks and utilities within existing subdivisions.

Applicants need to have five years or more experience in the development of housing units and eligible projects must be within communities participating in county-wide economic development through financial contributions to the Consolidated EDIT fund. Preference will be given to applicants with the capacity to build a minimum of ten housing units. For-profit, cooperatives, public entities and nonprofit organizations are eligible to apply.

EDC of Wayne County President, Valerie Shaffer says this program will help bring down the cost of public infrastructure projects paving the way for new houses to be built in existing subdivisions. “We know Wayne County is experiencing a shortage in housing of all types. When families can’t find adequate housing in Wayne County, they will move to areas outside our county. This is a talent retention and attraction issue for employers as well as a quality-of-life issue for residents. By increasing housing options, we hope to encourage more people to choose to live and work in Wayne County.”

The deadline to apply is March 17, and applications can be submitted via email or hard copy. Funding announcements are expected to be made beginning in April. Find more information about the program here. For more information or to request a grant application contact Sarah Mitchell, Economic Development Manager, at [email protected].