NOTICE TO MEMBERS

Last week, HBAR brought together representatives from Chesterfield, Goochland, Hanover, Henrico, New Kent, and Powhatan counties to address the pressing issue of housing inventory shortages and the alarming drop in approved rezonings this year.

Let's not overlook the gravity of the situation; the decisions we make today will shape the building permits landscape three years down the line. The ripple effect of this critical shortfall will not only hamper developers' ability to lay groundwork but also threaten employment in trades and professional services. The severity of this issue cannot be overstated, as a shortfall in the housing pipeline could significantly disrupt supply and demand dynamics, further compromising housing availability for our regional workforce.

To shed light on these concerns, John Hunt, CEO of MarketNSight, was invited by HBAR to provide valuable insights into the supply deficit and showcase innovative solutions that could be implemented in the Richmond market. HBAR is committed to fostering productive dialogues with local governments to address these challenges.

Jonathan Ridout, President of the HBAR Board of Directors, emphasized - "It's crucial to bring together elected officials, leadership staff, and industry experts to deliberate on the seriousness of this issue. If there's political will, we have the knowledge and tools to build and develop innovative solutions that will make housing more accessible. Let's collaborate to transform our housing landscape." 

Your membership supports such efforts. Thank you for investing.