The Roanoke Times says building of a 70 unit modular townhouse project has begun in Christiansburg, Virginia, to provide affordable housing and to stimulate the economy. Called Forest Hills at Belview, the $13.5 million venture will offer housing to those who meet strict low-income guidelines. Funded by the Obama administration’s stimulus initiative, the tax credits program, and a mortgage, the project is expected to be completed by October. Rents will range from $545 monthly for a single bedroom up to $815 a month for a four bedroom modular unit. Developer Mark Kinser competed against other proposals for affordable housing to earn the federal stimulus and tax credit funding. As part of the project, the owner agreed to follow rent and income guidelines for 30 years at Forest Hills.
(photo courtesy of servicemagic.com)