Accommodative Zoning Helps Developer Build Affordable Homes in Newport News
Seventy-six families in Newport News, Va., have been able to purchase their first homes, thanks to a collaborative effort between the city and a local developer. The project, Hilton Heights, is one of six winners of NAHB’s Innovations in Workforce Housing Awards, which were announced last month during the International Builders’ Show in Orlando, Fla.
Hilton Heights is a neighborhood of 99 homes near historic Hilton Village in Newport News. The project was the work of the Franciscus Company, a builder/developer in the Hampton Roads area.
Of the 99 homes, 76 were sold to first-time home buyers, most from Newport News and the adjacent city of Hampton. The buyers represent a cross section of the area’s workforce, including nurses, school teachers, firefighters, police officers, public utility employees and workers from the local shipyards.
The development was made possible, in part, by the City of Newport News, which allowed the site’s existing zoning for duplexes and townhouses to be changed to small-lot, single-family detached homes. Monarch Bank provided the acquisition and construction financing and looked beyond the below-market appraisals that initially threatened the project’s feasibility.