Funds to be used to support affordable housing projects and to bolster Healthy Homes rehabilitation program 

Richmond, VA – The City of Richmond is proud to announce the allocation of more than $9 million from its Affordable Housing Trust Fund (AHTF) to support the development and preservation of affordable housing in the City. The investment includes $7 million for eight housing projects which will expand access to safe, reliable, and affordable homes for Richmonders as well as $2.2 million to bolster the City’s Healthy Homes Rehabilitation program.  

The Healthy Homes program, launched in 2024, provides grants to qualifying homeowners for repairs to improve the sustainability, health, and affordability of the home. With the additional funds, the program will be able to support more residents throughout the City, keeping Richmonders in their homes and improving the longevity and sustainability of the City’s housing supply. 

“Addressing our housing crisis is not a matter of choosing between development and preservation, but a thoughtful combination of both,” said Mayor Danny Avula. “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 eight housing projects were selected from a competitive pool of more than 20 applicants and will create nearly 600 affordable housing units across multiple districts and neighborhoods, moving the needle on both the quality and supply of affordable housing units in the City. 

The funding recipients include: 

“This funding is consistent with Mayor Avula’s stated goals of providing access to quality affordable housing for Richmonders across all income levels” said Director of Housing and Community Development Merrick Malone. “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 City’s Department of Housing and Community Development (HCD) and were objectively scored based on criteria such as readiness, location, target population, and developer experience and capacity. Projects that met minimum, established thresholds based on these criteria were advanced for consideration and underwriting. Projects which did not were notified, advised on how they might improve their application, and are encouraged to apply for future funding.  

“Housing is front of mind for residents in my district and across the City,” said 6^th District Councilmember and AHTF Board Chair Ellen Robertson. "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.” 

About the Affordable Housing Trust Fund 

The Affordable Housing Trust Fund (AHTF) was established by the City of Richmond in 2004 as part of strategy to work with the nonprofit and for-profit development community in accessing and producing much needed long term affordable housing for (low to moderate income) residents of the City. The AHTF accesses a variety of funds for affordable housing support services and production. Nonprofit and for-profit residential developers can leverage AHTF funds with other private and public affordable housing financing sources to facilitate affordable housing counseling services and production in the City of Richmond.