The Charlottesville Redevelopment and Housing Authority has been on a roll in recent years with renovations at Crescent Halls and new units at S. First Street.
In August 2022, the government agency began a new era of buying what Executive Director John Sales called “naturally occurring affordable housing.”
“This portfolio started after a couple properties went on the open market where the rents for the two-bedroom units were about $500,” Sales said. “We looked to ensure that those units stayed affordable to the individuals that were living in those units.”
The initial units were on Coleman Street in the Locust Grove neighborhood, followed by a pair of units on Montrose Avenue in Belmont.
What Sales now calls the NOAH portfolio took a big leap forward in June 2023 when CRHA purchased 74 units known as Dogwood Housing from Woodard Properties. City Council covered half of the $10 million cost and continues to share ownership. Sales said tenants are people who otherwise would not be able to find a place to live.
“Of the families we’re serving, 68 percent of them fall under 30 percent of the area median income,” Sales said. “Twenty-nine percent of the units have a rental subsidy and 70 percent of them do not.”
Sales said CRHA is studying the financing of a project to buy out the city’s share and hopes to do so by winter of 2026. A plan to sell off one of the Dogwood units on Harris Street is on hold.
One City Councilor praised the CRHA’s approach.
“Philadelphia’s housing authority has recently been making national headlines,” said Councilor Michael Payne, a member of the CRHA Board. “They have a goal of acquiring 20,000 units and they found it’s more cost effective than building ground up.”
According to Sales, diversifying CRHA’s revenue sources helps stabilize the organization at a time when federal funding is in question. He said public housing itself does not generate much revenue. The NOAH properties bring in over $750,000 in rent each year.
“All of the non-public housing properties that we purchase do substantially well compared to public housing,” Sales said.
The CRHA also brings in more revenue at Crescent Halls and S. First Street because some of the units are now subsidized through housing vouchers rather than direct funding for public housing units.
“South First Street is producing so well that we’re able to add full-time security service,” Sales said.
City Council and the CRHA Board are expected to have a joint meeting later this summer. Among the likely topics is an update on the redevelopment of Westhaven. Council has agreed to contribute $15 million to that effort and design is underway.
Meanwhile, Sales said CRHA continues to be on the lookout for new purchases. In January, the agency bought several units on Fifth St. SW in the Fifeville neighborhood for $2.2 million.CRHA gives City Council an update on recently purchased homes
