LISC Virginia and the City of Richmond: Tacking the Affordable Housing Crisis Together
In April of 2023, Richmond Mayor Lever Stoney officially declared a housing crisis for the city of Richmond. In response, Mayor Levar Stoney, members of the Richmond City Council, and representatives from Local Initiatives Support Corporation (LISC) announced in October 2023 that LISC will be partnering with the City of Richmond and matching the city’s investment of $50 million, for a total of $100 million, to tackle the affordable housing crisis in Richmond.
“We look forward to working with the city to implement a strategy driven by a vision for a more affordable and inclusive City where people not only want to live, but can afford to thrive,” said Jane Ferrara, LISC Virginia Executive Director
How we’re working to support affordable housing with the City of Richmond:
LISC provided $3.60 million in financing to support the Sandston Senior Retirement Community, a 100-unit LIHTC senior property.
We convened local emerging developers to support affordable housing development.
LISC lending resources:
Are you a current borrower or thinking that you may need financing at some point in the future? Click the link below to learn more about how to get started borrowing from LISC.
