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Suffolk’s Peanut Crossing housing development is set to receive a significant boost with a $3 million state investment to support the project’s Phase II. The funding is part of the Virginia Workforce Housing Investment Program, an initiative aimed at increasing housing availability in areas experiencing business growth.
Gov. Glenn Youngkin announced the allocation on Wednesday, May 21, 2025. In total, nearly $17 million will be distributed among ten localities across the Commonwealth through the program. Suffolk, along with the Mount Rogers Planning District Commission and the City of Winchester, received the largest individual allocations at $3 million.
Peanut Crossing involves the redevelopment of a historic peanut processing plant site, originally home to the Suffolk Peanut Company, founded in 1898. Phase II will transform the plant into new rental units specifically intended for the local workforce.
The existing Peanut Crossing apartment complex, completed in 2021, currently offers 58 units and is surrounded by peanut processing warehouses. The Suffolk City Council approved 225 units for the site in 2019.
Virginia’s Secretary of Commerce and Trade, Juan Pablo Segura, emphasized the importance of the program, stating that cultivating a skilled workforce and ensuring safe, stable, and affordable housing are essential to propelling economic growth. He added that the program partners with private and local governments to catalyze workforce housing construction. Governor Youngkin echoed this sentiment, noting the program supports housing affordability, availability, and accessibility for a growing Virginia. The Workforce Housing Investment Program provides loans, subsidies, and grants to locations that have reported a “qualified job announcement” in the preceding fiscal year.
Sen. Emily Jordan also shared the news during a city council work session, noting the $3 million allocation from Virginia Housing to support additional workforce housing at Peanut Crossing Phase II.