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Council approves $2 million increase in city loan to convert Civic Center motel into 49 permanent supportive housing units
Summary
The council unanimously approved increasing the city's loan to the Homekey conversion of a motel into 49 permanent supportive housing units (4 25 Civic Center LP), raising the city loan from $8.3M to up to $10.3M to cover construction change orders and capital needs; staff said full repayment through residual receipts is unlikely but the project aims for occupancy and service delivery by 06/30/2026.
The Richmond City Council unanimously approved a resolution to increase the city's loan for the Civic Center Apartments Homekey conversion from $8.3 million to up to $10.3 million, a staff presentation said, to cover additional rehabilitation costs revealed during construction.
"The recommended action is to adopt a resolution which would increase the city's loan for this project from $8,300,000 to $10,300,000," Lina Velasco, Richmond's director of community development, told the council. She said the city acquired a motel that will be converted into a 49‑unit permanent supportive housing development for people who are chronically homeless and that the project includes 48 studios plus a manager's unit and on‑site services.
Staff said…
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