A SPECIAL ADVERTISING INSERT
Affordable housing will be even more diverse Barbara Blackston, who
Barbara Blackston
serves on Virginia Housing’s Board of Commissioners, has a bird’s-eye view of all the development in Richmond’s Scott’s Addition, including 3900 West Broad Street. For the last 12 years, Blackston has lived in Guardian Place, a 55-and- older apartment community that was originally financed by Virginia Housing.
She has only to look out the window or walk down the
street to realize how all the vibrant mixed-use, mixed-in- come development is helping change the face of housing in Richmond. “Never in my dreams did I imagine what Scott’s Addition would become.”
As well as providing funding for mixed-use, mixed-in-
come development, Blackston says Virginia Housing’s mission and commitment to affordable housing is critical to young people who want to get into the housing market. “It provides good opportunities, with grants and loans, which can be very important for first-time homebuyers.” A retired social worker who has served on a number of
boards, Blackston loves working with Virginia Housing and seeing and learning first-hand its impact on different regions of the Commonwealth. What does she see in the future of affordable housing?
“I think low income and affordable housing will become something a little different. The new concept of con- tainer homes – and factory-built homes, especially for rural areas – will spread in Virginia. Affordable housing will be even more diverse. I can find it, you can find it, anyone can apply and begin to reach their dreams.”
Affordable housing will be even more diverse. I can find it, you can find it, anyone can apply and begin to reach their dreams.” – Barbara Blackston, Board of Commissioners of Virginia Housing
Spy Rock Real Estate Group is developing acreage at 3900 West Broad Street as part of a 99-year ground lease from United Methodist Family Services (UMFS), a statewide nonprofit that serves youth and families. The lease provides for enhancements to Richmond’s Broad Street corridor, including a 128-bed hotel and 250-unit apartment complex, 50 of which will be reserved for households at or below 80% of the area median income (AMI). It also will help fund the expansion of the UMFS campus. Virginia Housing provided $40 million to finance the apartments and a portion of the commercial space. Architectural Credit: Poole & Poole Architecture. Rendering courtesy of: RenderSphere LLC.
September 2020 |
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