The modernization of five critical affordable housing communities in Richmond, Virginia, by The Michaels Organization will benefit from $4 million in special funding from the Virginia Department of Housing and Community Development’s Housing Innovations in Energy Efficiency Program.
Michaels is partnering with the Richmond Housing and Redevelopment Authority to renovate public housing properties in Fulton, Afton, Bainbridge, Stoval and Randolph. These updates will improve the apartments and community amenities while maintaining affordability for residents in the long-term. The project will also incorporate the latest energy efficiency standards, resulting in operational savings for residents.
“We are grateful to the Governor and to the Virginia Department of Housing and Redevelopment for prioritizing both affordable housing and energy efficiency,” said Rosa Estrada, Regional Vice President of Development for Michaels’ Mid-Atlantic region. “High-quality housing that is affordable and sustainable is essential to the health and wellbeing of the residents of these communities.”
Governor Glenn Youngkin has announced $52 million in loans to support housing initiatives throughout the Commonwealth. As part of the competitive process, additional funding has been awarded to the Richmond Family 1 and Richmond Family 2 housing communities. With a total of 204 apartment homes, these communities will receive modernization upgrades and community enhancements while maintaining their long-term affordability. The revitalization project will introduce new amenities, including central air conditioning, dishwashers, and washer/dryers, to improve the living experience for residents. Currently, 64 of the 204 apartments have been fully renovated.
Virginia DHCD’s Housing Innovations in Energy Efficiency (HIEE) program is funded through the Regional Greenhouse Gas Initiative (RGGI) proceeds. HIEE funds assist affordable housing project development teams in completing energy efficiency upgrades that would not have been feasible otherwise. These funds are available by DHCD to projects that demonstrate that they are designed to meet the HIEE energy efficiency performance requirements.
Managed by Michaels, Richmond Family Housing receives invaluable social services from Better Tomorrows, a non-profit supportive services organization in a strategic partnership with Michaels Management.
