Gives Surplus Property First to Housing Builders
Virginia · HB143 · Introduced Jan 5, 2026
Why it matters
Surplus state land could become affordable homes instead of being sold on the open market. Renters and buyers with middle incomes could gain homes, while the state may get less money from some sales.
What it does
- Lets localities and economic development groups get first chance at surplus state property for 180 days
- Gives the Virginia Housing Development Authority 180 days to study housing use and seek interested builders
- Requires surplus property sold to housing groups to stay affordable for at least 30 years
- Covers households earning up to 120% of area median income, or 150% in rural areas
Status
Latest action (2026-07-21): Continued from last session
About this bill
Requires state agencies to offer surplus land first to groups building affordable housing, for at least 90 days. Buyers must keep the homes affordable for at least 30 years.
Perspectives
💬 The case for
Housing groups would likely say this gives affordable homes priority over sales to the highest bidder. Long-term rent and price limits would keep homes affordable for decades.
💬 The case against
Some property groups would likely say the delays and below-market prices reduce what the state earns. Local governments may also worry about losing time to act on land.
Sponsored by
Sponsor details for this state bill are at the source link.
News
Loading coverage…