Henrico creating affordable housing trust with $60 million in starting funds
Henrico leaders want to address the affordable housing crisis by creating a new trust with funding from data center tax revenue.
Stay updated with breaking news from Jovan Burton. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Henrico leaders want to address the affordable housing crisis by creating a new trust with funding from data center tax revenue.
County leaders said they are hoping to make homes affordable for people such as child care workers, first responders, teachers, restaurant staff, office administrators and industrial park workers.
As newcomers flooded our housing market, and luxury midrise apartment buildings sprouted like so many mushrooms, booming RVA exacerbated existing Richmond inequities.
The pilot program will serve as a proof of concept for a larger investment to help close Richmond’s persistent racial homeownership gap.
As the Richmond area grows, having a greater availability of affordable housing could be crucial to maintaining a strong local workforce.