T
he third annual Southside regional real estate forum, held at Motleys Mill in Chatham on April 30, highlighted both the challenges and growth opportunities in the area. A panel discussion followed a networking period for attendees, including realtors, investors, developers, and others within or adjacent to the industry.

    Panel speakers Kat Saunders, Kelvin Perry, and Shannon Hair discussed the growth of Danville's community, despite uncertainty surrounding federal tariffs. Perry noted that investors remain interested in setting up businesses in Danville, but incoming workers will require more housing. Saunders emphasized Virginia's favorable business climate, citing four key "pillars" for economic development: workforce, innovation, infrastructure, and business climate.

    The discussion centered on the need for "workforce housing," affordable options for working-class individuals, particularly first-time homebuyers or new families. As Danville's economy expands, demand for housing has increased, but affordability and availability remain significant issues. Wages have not kept pace with rising living costs, making it difficult for prospective homebuyers to compete with investors.

    Realtor Emily Wright shared client experiences, highlighting the lack of starter homes in Danville. She noted that many buyers are priced out of the market, unable to afford homes under $250,000. In response, a solutions-focused housing summit has been organized annually for three years, bringing together developers, contractors, and community advocates to address the region's housing needs.

    Danville projects 3,900 new residents will move into the area for work, and the city is working to provide housing options for all stages of life. Perry mentioned offering incentives for developers interested in workforce housing, while Saunders emphasized the importance of quality of life and amenities in growth. She encouraged real estate agents to promote a growth mindset and help drive the narrative around development's benefits.

    Danville is seeking to bring in more single-family homes at various price points, including acquiring properties for residential development. A representative from the regional Industrial Development Authority mentioned a recent acquisition of a former golf course property, which could accommodate 250-300 single-family homes. Saunders expects legislative limits on investors to level the playing field for first-time homebuyers, making buying a home more attainable.