$5.5 million in tax credits going to Blacksburg housing plan

(RECAP: The Fieldstone proposal for affordable housing in Blacksburg won major federal support Friday with the announcement that it qualified for $5.5 million in tax credits. The apartment proposal on Givens Lane has been described as an important addition to the region’s housing mix because residents would be limited to households whose income is less than 60 percent of the region’s median. Sixty of the planned 144 units also would be reserved for people age 55 and older. Jim Chandler, director of the authority’s low-income housing tax credit program, said that facets of Fieldstone’s application that won points from reviewers included green-building techniques to increase energy efficiency so that tenants will have lower utility bills. Also, local support for the proposal helped because it reduced the project’s cost and amount of tax credits needed to cover it.)