Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Advocates propose Richmond ban on corporate purchases of single‑family homes; council questions details
Summary
The Sustainable Economies Law Center proposed a forward‑looking ordinance to bar for‑profit corporations from buying single‑family homes and small multiunit properties in Richmond; councilmembers raised implementation and equity questions during discussion.
Advocates from the Sustainable Economies Law Center presented a proposal to the Richmond City Council on Aug. 26 that would bar for‑profit corporations and institutional investors from purchasing single‑family homes up to fourplexes in the city.
Hope Williams, legislative director for the Law Center, said the proposal would create a short list of permitted buyers — individuals, nonprofits, limited‑equity cooperatives and public entities — and would prohibit non‑listed entities such as hedge funds from future acquisitions. "Corporate speculators are not serving us, and the city has the power to stop them from treating our…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
