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Virginia housing group asks Suffolk to enable land-banking for 60 affordable homes on city parcel
Summary
James Taylor of the Virginia Housing and Community Development Corporation asked the council to adopt the Virginia Land Bank Entities Act and designate the group as a land bank to develop about 60 affordable homeownership units on a 22-acre city-owned parcel on Suburban Drive.
James Taylor, president of the Virginia Housing and Community Development Corporation, urged Suffolk City Council on Oct. 1 to adopt the Virginia Land Bank Entities Act and designate his organization as a city land bank so it can develop affordable housing on a 22-acre parcel on Suburban Drive.
Taylor said the parcel was deeded to the Economic Development Authority in 1988 and has remained undeveloped for roughly 37 years. He proposed creating approximately 60 homeownership units using nontraditional, energy-efficient “smart homes” and asked the council to authorize an MOU that would lower development costs and remove barriers to affordability.
Taylor told council that in recent housing counseling work his organization found “over 60 percent” of about 250 clients were unable to afford a home and that development tools like land banks can reduce barriers to producing affordable housing. He left a packet with background information and contact details and said his group is prepared to move forward if the city adopts the Land Bank tool and works with them on an MOU.
Councilmembers thanked Taylor and said they would discuss the request with the city manager. No formal action on the Land Bank request occurred at the meeting.
