The City of Richmond has announced the allocation of over $9 million from its Affordable Housing Trust Fund (AHTF) to support affordable housing development and preservation efforts. The funding includes $7 million for eight housing projects and $2.2 million for the City’s Healthy Homes Rehabilitation program.
The Healthy Homes program, which began in 2024, offers grants to homeowners who qualify, allowing them to make repairs that improve their homes’ sustainability, health, and affordability. With this new investment, more residents will be able to access these resources, helping maintain existing housing stock and keeping residents in their homes.
Mayor Danny Avula commented on the approach: “Addressing our housing crisis is not a matter of choosing between development and preservation, but a thoughtful combination of both. 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.”
Eight projects were chosen from more than 20 applicants and are expected to create nearly 600 affordable housing units across several districts in Richmond. Funding recipients include Genesis Properties (77 units), Maggie Walker Community Land Trust (27 units across two awards), The Hanson Company (50 units), SupportWorks Housing (82 units), Elmington (246 units), Pennrose (50 units), and Douglas Development (48 units).
Director of Housing and Community Development Merrick Malone said: “This funding is consistent with Mayor Avula’s stated goals of providing access to quality affordable housing for Richmonders across all income levels. We are providing affordable housing to accommodate our growing population while also preserving homes for our long-term residents who want to remain in the City.”
Projects were selected based on recommendations from the Department of Housing and Community Development using criteria such as readiness, location, target population, and developer experience. Projects meeting minimum thresholds advanced for consideration; those not selected received feedback for future applications.
6th District Councilmember Ellen Robertson noted community concerns: “Housing is front of mind for residents in my district and across the City,” she 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.”
Established in 2004 by Richmond city officials as part of an effort with nonprofit and private developers, the AHTF helps finance long-term affordable housing solutions for low- to moderate-income residents by leveraging multiple sources of public and private funds.
