Description
Title: To approve the issuance by the Richmond Redevelopment and Housing Authority of its multifamily housing revenue bonds in an amount up to $20,000,000 for the acquisition, construction, and equipping of the approximately 126-unit multifamily residential rental housing project located at 815 North 35th Street and 823 North 36th Street in the City of Richmond. (7th District)
Summary
Resolution No. 2026-R030, introduced on July 27, 2026, by Mayor Avula, seeks City Council approval for the Richmond Redevelopment and Housing Authority (RRHA) to issue up to $20 million in multifamily housing revenue bonds. These funds will support the acquisition, construction, and equipping of a 126-unit affordable housing project at 815 North 35th Street and 823 North 36th Street, targeting senior residents. The project includes renovating an existing building with 56 units and adding 70 new one-bedroom units. This initiative aims to address Richmond's growing housing crisis and provide safe, affordable options for low-income residents. Public hearings were held to ensure community engagement. The resolution emphasizes that the