Virginia Beach, VA

Housing Needs Assessment

Virginia Beach, VA

Housing Needs Assessment

Virginia Beach, a coastal city of approximately 450,000 in southeastern Virginia, is home to a large tourism economy, several military bases, and many seasonal homeowners and renters. In 2015, czb partnered with the Virginia Center for Housing Research at Virginia Tech to develop a Housing Needs Assessment and Stabilization Recommendations for the City of Virginia Beach.

  Team Members: Karen Beck Pooley, Charles Buki
  Partner: Virginia Tech Center for Housing Research
  Services: Housing Analysis, Strategy Development, Report Creation

“How can the City of Virginia Beach begin to reorient its market in order to attract new investment and a new millennial housing market to the city?”

Population

Median Household Income

%

of adults have a bachelor's degree or higher

%

of all households live in poverty

Assessment & analysis.

Over a period of approximately 12 months, czb and Virginia Tech evaluated market patterns, sales prices, homeownership rates, and demographic data to determine the city’s largest housing needs and opportunities.

A truth revealed.

The team’s research found that there were nearly 29,000 cost-burdened home owners in Virginia Beach and that many of the homeowners were neglecting to make necessary upgrades.

For Virginia Beach, czb worked with Virginia Tech to deliver a full analysis of the city’s housing market. czb’s focus was on the vulnerabilities this suburbanized city now faces: rising sea levels and insurance risk, deferred maintenance on thousands of 1970s era single family ranch homes, and the challenge of retaining and attracting Millennials without the mixed-use, urban environment young workers now demand.

The team’s final report for Virginia Beach encouraged the deployment of a self-financed land bank, a self-financed housing trust fund, a housing bond, and inclusionary zoning designed to spur reinvestment and stop blight in several target neighborhoods.

czb’s final report for Virginia Beach encouraged the deployment of a self-financed land bank, a self-financed housing trust fund, a housing bond, and inclusionary zoning designed to spur reinvestment and stop blight in several target neighborhoods.

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2018, czbLLC. all rights reserved.