A plan to build 22 townhouses on a vacant lot in Buena Vista, the city’s largest housing development in years, awaits city council approval.
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The Lexington Planning Commission has approved an ordinance allowing for a type of high-density housing. The city council is expected to take it up in two weeks. The ordinance aims to create clusters of single-family homes on small existing lots to provide more housing options.
Lexington could soon offer funds to help low- and fixed-income residents make home repairs. City council has already set $250,000 aside for the project. The program could also help elderly residents stay independent at home instead of moving to assisted living facilities.
Buena Vista’s median home values rose 60% since 2020. The city used to have one of the highest property tax rates in Virginia, but a recent cut brought Buena Vista below the state average.
The City of Lexington will consider new proposals to develop condos and townhouses at the former VDOT site on Waddell Street. Echelon ditched an earlier plan to build over 200 new rental units, including some below market rate.
Residents may start receiving a monthly stormwater fee beginning as early as January 2026.
City Manager Jim Halasz is recommending approval, saying the city would still collect a little more than $2 million over 20 years.
The building was built in 1892 and has not been renovated since 1984.
City council is expected to resume discussion about the proposed ordinance at its Feb. 15 meeting.
Lexington’s housing board and some city council members are discussing several ideas to address homelessness in the city.