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Updated on Thursday, April 25 at 2:57 p.m.
Real estate developers who construct homes in parts of Cabell and Wayne counties are now eligible for a tax incentive.
Last week, the greater Huntington area — including eastern Cabell County and northern Wayne County — was designated a BuildWV district by the West Virginia Department of Commerce.
Since its creation in 2022, the BuildWV program has granted developers state tax credits for creating new housing options in West Virginia.
A 2024 report on housing needs in Huntington found that many local housing units are considered substandard in quality or burdensome in cost. The report also found a particular need for the construction of affordable family and multi-unit homes throughout the city.
Developers who build six or more housing units in the region are now eligible for the program’s incentives, with additional incentives for developers renovating single-family homes for first-time home buyers. To apply, communities must submit an application alongside a $5,000 application fee to the West Virginia Department of Economic Development.
“It basically makes it more profitable for developers to build new housing within the county because it allows them to apply for and receive a tax credit that they normally would be paying the state of West Virginia,” Cathy Burns, executive director of the Huntington Municipal Development Authority, told The Herald-Dispatch last week.
With the program now established, local officials are hopeful for the new housing options it could bring.
“The establishment of the [BuildWV] district in Huntington and the surrounding region is indicative that we are taking a critically important step forward,” Steve Williams, mayor of Huntington, said Thursday. “We are now moving beyond tax policy and infrastructure development. We are now preparing our communities … to welcome the population growth that demands adequate and appropriate housing.”
**Editor’s note: This story was updated to include a comment from Steve Williams, mayor of Huntington.
