A Virginia Housing Grant Helps Clear the Way for Senior Housing in Richmond

February 23, 2024

Virginia Housing provided a $150,000 Community Impact Grant to demolish an existing structure at 2100 Bainbridge St. in Richmond’s south side. A multifamily dwelling for seniors will go up on the property, which sits between Semmes Avenue and Hull Street. The new site will be home to 82 affordable units, all of which will be rented to senior households at or below 60% of the Area Median Income. The project will also include fundraising to further decrease rents. project:HOMES, a nonprofit partner that works to make both owning and renting a home in the Richmond area more affordable, is leading this effort.

Virginia Housing awards Community Impact Grants to help housing partners with many of the early stages of housing projects, from conceptual engineering and architecture work to market assessments, policy studies and vacant property rehabilitation. This award falls within the Community Impact Grant’s Stabilization and Deconstruction category, which funds interim physical improvements to buildings that the grantee plans to rehab for housing or mixed use. You can learn more by visiting our grants portal and clicking “Search Here” under “Funding Opportunities Offered by Virginia Housing.”

Below is a rendering of the planned building as well as a photo of a carriage house that has been preserved and will serve as a community center for the new development.