With the influx of business investment into West Virginia, there is both excitement and a recognized need for housing to meet current and future demand. A renewed focus on economic development by the state of West Virginia has been successful in attracting new and varied corporate investment that will result in new jobs across the state.
While there is no question that this is beneficial for the state, it does place additional press on the current housing market. As it currently stands, there is a housing shortage. This issue will only be exacerbated as new employment opportunities bring additional residents to West Virginia. Ultimately, the current climate presents a significant opportunity for residential developers and investors.
Beginning today, you can learn more about the situation and opportunities available by attending the West Virgnia Housing Conference. Further, I will be speaking on Thursday, Sept. 26 from 2:45 - 3:45 p.m. regarding the historic Prichard Hotel Redevelopment.
For more information, please use the following link: 2024 West Virginia Housing Conference (wvhousingconference.com).
Despite millions of dollar worth of business investment coming to West Virginia, a lack of housing remains a challenge for the state, according to Federal Reserve Bank of Richmond.
“We’ve talked about a bunch of the investments that are being made, and then we’ve talked about a bunch of the challenges, not the least of which is housing,” said Tom Barkin, president and CEO of the Federal Reserve Bank of Richmond, while attending the West Virginia Chamber of Commerce’s annual business summit at The Greenbrier in White Sulphur Springs.
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