Richmond officials seek corporate support for affordable housing solutions

The Richmond City Land Use, Housing, and Transportation Standing Committee convened on June 17, 2025, to discuss critical strategies for enhancing affordable housing in the city. The meeting highlighted the need for increased financial support from philanthropic and corporate sectors to address ongoing housing challenges.

Rachel Heitman, a key figure in the city’s housing policy efforts, emphasized the importance of researching successful housing initiatives from other jurisdictions. She noted that the city is actively seeking to engage state legislators to support legislation that could aid in maintaining affordable housing, including potential measures to assist with real estate taxes and regulate land purchases by larger corporations.

Committee members expressed enthusiasm for leveraging successful displacement strategies observed in other cities, particularly from a recent trip to Atlanta. They underscored the necessity of maximizing resources to increase the availability of affordable housing units.

A significant point of discussion was the potential for local rental assistance programs, similar to those implemented in other Virginia localities. While the committee acknowledged that they had not yet explored this model in depth, they expressed openness to investigating its feasibility for Richmond, particularly for families earning 40% or less of the area median income.

The meeting concluded with a commitment to explore innovative solutions and collaborate with various stakeholders to enhance the city’s housing landscape. The committee's proactive approach signals a determination to tackle the pressing issue of affordable housing in Richmond.