Friday, April 04, 2025

Up to $13 million available for multi-family development and preservation and new single-family construction

The City of Richmond, through its Department of Housing and Community Development, has issued a Notice of Funding Availability (NOFA) for the Equitable Affordable Housing Program (EAHP), making up to $13 million available for the development and preservation of multi-family housing units in the City.

This NOFA is the City's second under the EAHP, which was established in 2023 under the 5-year Capital Improvement Program for the production and/or preservation of affordable housing. The first, in FY24, awarded $7 million to eight projects for the construction of 822 units of affordable housing. This year's funding includes $3 million of carry-over from FY24 and $10 million from FY25.

"We are proud to bring additional resources to bear in moving the needle on the development and preservation of affordable housing in Richmond" said Director of Housing and Community Development Merrick Malone. "There can be no doubt that access to affordable housing is one of the surest ways we can uplift our communities. By improving this access, we are empowering families, fostering stability, and laying the foundation for a brighter, more equitable future."

How to Apply

Applications for this round of funding will be accepted in two phases. The first opened officially on April 3, 2025, and will close on May 16, 2025. The second will open on June 1, 2025, with applications accepted on a rolling basis thereafter.

Priority will be given to those projects that help to advance the City's housing strategic goals:

• 2,000 new low- and moderate-income homeowners (50%-80% AMI), by January 1, 2033.
• 10,000 new affordable rental units by January 1, 2033.
• 350 new Permanent Supportive Housing (PSH) units by January 1, 2026.
• The transformation of the six properties owned by the Richmond Redevelopment and Housing Authority referred to as the "Big Six" into "Communities of Choice" development sites and the de-concentration of poverty in Council Districts 3, 6, and 7 by January 1, 2037.

Additional details, scoring criteria, and application can be found on the City's Housing and Community Development webpage.