RICHMOND, Va. (WRIC) — Two months after declaring a housing crisis in the city of Richmond, Mayor Levar Stoney addressed rising rent and where the city stands with new affordable housing units.
In a city council meeting on April 10, 2023, the city officially declared a housing crisis to bring attention, funding, and increased collaboration in the issue. The resolution to declare a housing crisis for the city was first introduced on March 27.
The resolution states that there is reportedly a shortage of 23,320 housing units for sale or available to rent in Richmond. Additionally, one in five homes in Richmond is sold to out-of-state corporate investors.
Stoney expressed concern not only for the shortage of housing units, but the cost of the units that do exist in the city.
“To be very plain, the rates too damn high. And we know we need more housing, period,” Stoney said. “People deserve to have a roof over their heads and have the ability to put food on their table.”
After declaring a housing crisis, a clear plan on how to tackle the issue was not released. But now, some projects have moved forward.
City leaders attended a groundbreaking ceremony on Tuesday, June 13 for an apartment complex set to house over 200 units in collaboration with Lynx Ventures. $32 million dollars from the American Rescue Plan Act was set aside for this project.
There is still $8 million left in American Rescue Plan Act funding. City leaders introduced recommendations on where that funding should go during the Monday, June 12 city council meeting.
Stoney hopes that adding new housing projects in the city will improve the quality of life for people throughout Richmond.
“I’m a firm believer that housing is a vaccine for poverty,” Stoney said. “It is foundational. It can change one’s life.”
