The City of Richmond has opened a new funding round through its Affordable Housing Trust Fund (AHTF) to support the development and preservation of affordable housing units. The application process will remain open on a rolling basis until all funds are distributed.
This new round follows the recent allocation of $9 million from the fund, which was awarded to eight housing projects and the City’s Healthy Homes rehabilitation program just over a month ago.
Mayor Danny Avula stated, “Affordable housing takes collaboration, and the AHTF is a valuable tool in fostering the relationship between private and public partners to meet one of our City’s most urgent needs. I am hopeful that, with the rolling deadline and technical assistance provided by our Department of Housing and Community Development, we will see new proposals that will advance the affordable housing development Richmonders need and deserve.”
Both nonprofit and for-profit developers are invited to apply for funding. Guidelines, application details, as well as resources such as a training course recording and Q&A session from the Department of Housing and Community Development are available on the AHTF webpage at go.rva.gov/HCDAHTF.
Director of Housing and Community Development Merrick Malone commented, “We highly encourage every eligible partner in the Richmond area to explore and seriously consider this opportunity, and to put forward proposals that meet the City’s urgent needs to affordable housing. Funding allocations like this are critical to the City’s ability to keep pace with growth while protecting the ability of longtime residents to thrive in their neighborhoods.”
Applications will be evaluated based on how well they align with city priorities such as affordability levels, project readiness, and community benefit.
