In evaluating the 20&R site, Center Creek Homes chose to reimagine ways to maximize land use efficiency and tackle housing affordability head-on. Based on the applicable zoning regulations, Center Creek could have, “by-right,” built a pair of roughly 2,100 square foot new homes on the property, and sold them for between $350,000 and $375,000 each.  Instead, nine months of community engagement, thoughtful budgeting, innovative space planning and one Special Use Permit later, Center Creek Homes is proud to bring five new homes to the Fairmount neighborhood priced under $250,000, well below the median sales price for a newly constructed single-family home in Richmond.

 

The Center Creek team did not stop there, but continued looking for ways to make one of the houses even more deeply affordable. With some timely advice from Councilwoman Cynthia Newbille, Center Creek found one. Center Creek Homes applied and was approved by the City of Richmond’s Department of Housing and Community Development (DHCD) and City Council for HOME funds, bringing the purchase price of one of the houses at 20&R down to approximately $180,000 for an income-qualified purchaser*. If you or someone you know is interested and may be qualified for this program, please contact us for more information.

 

 

 

* The City subsidy funds include other requirements, including a minimum holding period for the house and first time homebuyer qualifications  or not owning a house for the previous three years.  Please contact Center Creek Homes or complete program details.