The City of Richmond has awarded more than $9 million through its Affordable Housing Trust Fund (AHTF) to support eight development projects expected to deliver nearly 600 new or preserved affordable housing units across the city. The funding also includes $2.2 million for the Healthy Homes Rehabilitation Program, which helps low-income homeowners make essential repairs to maintain safe, sustainable housing.
Mayor Danny Avula framed the allocation as part of a balanced strategy for tackling the city’s housing shortage.
“Addressing our housing crisis is not a matter of choosing between development and preservation, but a thoughtful combination of both,” Avula said. “Our City needs new, affordable units to accommodate a growing population, but it also needs to protect the people and the homes that are already here. This round of funding is a reflection of that important strategy.”
The awards were selected from a competitive pool of more than 20 applicants, with the majority of funding going toward multi-unit rental projects and a portion toward community land trust homeownership and preservation programs.
Who’s Getting Funded
This year’s funding is heavily concentrated in District 6, which will see four projects totaling 216 units:
- Genesis Properties – 77 units – $1,000,000
- Maggie Walker Community Land Trust – 7 units – $175,000
- The Hanson Company – 50 units – $689,026
- SupportWorks Housing – 82 units – $1,000,000
The single largest project in the funding round is Elmington’s 246-unit development in District 5, awarded $1.5 million. Other recipients include:
- Maggie Walker Community Land Trust (District 4) – 20 units – $450,000
- Pennrose (District 2) – 50 units – $1,000,000
- Douglas Development (District 2) – 48 units – $1,200,000
Balancing Scale and Permanence
While large-scale developments like Elmington’s offer economies of scale, bringing units online at a lower per-unit cost, smaller investments in community land trusts and rehabilitation programs focus on long-term affordability and resident stability. For example, the Maggie Walker Community Land Trust will receive two separate awards totaling $625,000 for projects in Districts 4 and 6, ensuring those homes remain permanently affordable.
Councilmember Ellen Robertson, who represents the 6th District and chairs the AHTF Board, said the funding directly responds to what she hears from residents.
“Housing is front of mind for residents in my district and across the City,” Robertson said. “They are concerned about the housing supply, they are concerned about affordability, they are concerned about getting priced out of a neighborhood they have called home their whole lives. This funding is a small, but important, way that we can start to address those concerns and show our residents that we are not only creating new housing units but working to protect the units that are here.”
The Bigger Picture
The AHTF, established in 2004, has seen increased activity in recent years thanks in part to federal American Rescue Plan funds and the city’s push to address housing shortages. This latest round of awards underscores Richmond’s two-pronged approach: building new affordable housing while preserving existing homes through rehabilitation.
Still, questions remain about how long these units will remain affordable, what income thresholds will be used, and how evenly investments are being distributed across districts. With more than a third of Richmond households spending over 30% of their income on housing, the stakes for getting it right are high.
Photo by Nathaniel Villaire
Support RVA Magazine. Support independent media in Richmond.
In a world where corporations and wealthy individuals now shape much of our media landscape, RVA Magazine remains fiercely independent, amplifying the voices of Richmond’s artists, musicians, and community. Since 2005, we’ve been dedicated to authentic, grassroots storytelling that highlights the people and culture shaping our city.
But we can’t do this without you. A small donation, even as little as $2 – one-time or recurring – helps us continue to produce honest, local coverage free from outside interference. Every dollar makes a difference. Your support keeps us going and keeps RVA’s creative spirit alive. Thank you for standing with independent media. DONATE HERE.
Also, you can show your support by purchasing our merch HERE.
