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GOALS AND OBJECTIVES

CHAPTER 3

1 - COST OF HOUSING

Target Key Demographics

Development Opportunities

PROVIDE HOUSING APPROPRIATE FOR A WIDE SPECTRUM OF RESIDENTS

A principal goal of the Downtown Strategy is to provide housing options that make Blacksburg an affordable place to live, not just for high- income residents or students, but also for working families, young professionals, and older adults. This will help to ensure that Blacksburg is an equitable community, welcoming to a broad range of people interested in moving to or staying in the area. It will also help to manage traffic by improving walkability and by giving residents better access to employment opportunities Downtown.

Explore locations for greater density of housing development Explore redevelopment of underdeveloped parcels Identifying potential development sites for new housing—and for other in-demand uses—in Downtown will be central to successfully addressing housing costs in Blacksburg. The key will be to not only identify the best sites for new housing, but to identify sites where housing can be developed at a higher density than what is currently available. This density will create a more efficient, walkable, accessible, and affordable Downtown housing market. While development opportunities Downtown will not be the only means available to address the community’s housing needs, they will be a key component.

Identify sites downtown best suited for student-oriented housing Explore tools to encourage more full-time, non-student residents It will also be critical to target new housing development to key demographic groups. Specifically, it will be important to develop housing specifically oriented to students and housing specifically oriented to non-students. This targeted development will help alleviate some of the pressures that student rental demand is placing on the existing housing supply—especially in certain neighborhoods—while will also providing each demographic with the distinct types of housing products that suit their needs and stage of life.

55 Downtown Blacksburg Strategic Plan