Construction has just begun on the Fieldstone development in Blacksburg along Givens Lane. The development will be the largest affordable housing development in Blacksburg and provide much needed housing for 144 households. The development supports numerous housing, aging in place, and sustainability goals in the Town of Blacksburg’s Comprehensive Plan and in the Livability Initiative. Montgomery County and the Town of Blacksburg provided 15 year tax abatements for the development. Without this support the project would not have scored high enough to receive the needed low income housing tax credits from the Virginia Housing Development Authority.
When completed in late 2017, 84 apartments will be reserved for households with incomes at or below 60% of the area median income (AMI). In 2015, for a family of three, the 60% income threshold was $36,420; for a family of four, the 60% income threshold was $40,440.00.
The other 60 apartments will be designed for senior (55+) households and include universal design standards for aging in place. The senior apartments are reserved for households with incomes at or below 60% AMI.
Amenities at Fieldstone will include a community building with fitness center, gardens, trails, picnic area and playground. The community will be developed in accordance with EarthCraft sustainable standards for site design and building. For more information, contact: Matt Hanratty, firstname.lastname@example.org.