The New River Valley HOME Consortium is a regional consortium located in southwest Virginia that includes the counties of Floyd, Giles, Montgomery, Pulaski, the City of Radford and the towns therein. The purpose of the HOME Consortium is to support the creation of housing opportunities for low and moderate income people in the New River Valley.
The NRV HOME Consortium was formed in 2007 and since then 343 homes and apartments have been built, rehabilitated or are in the development process: 92 in Pulaski, 26 in Radford, 31 in Giles County, 192 in Montgomery County and 2 in Floyd. HOME funds can be used for new construction and rehabilitation of homeownership or rental housing.
The NRV HOME Consortium receives annual funding from the U.S. Department of Housing and Urban Development. It has been able to leverage the $5,120,839 for the 343 units it has assisted to date to bring an additional $32,183,834 to the communities in the New River Valley – a ratio of $6.28 dollars to every dollar of HOME funds.