MUNI-RICHMOND COUNTYlocal legislationAdopted

Approval of $17 Million Bond for Commerce Heights Housing Project

Original title: To approve the issuance by the Richmond Redevelopment and Housing Authority of its multifamily housing revenue bonds in an amount up to $17,000,000 for the acquisition, construction and equipping of the approximately 230-unit Commerce Heights multifamily residential rental housing project at 1410 Ingram Avenue in the city of Richmond.

April 27, 2026

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The Frame

What this does

This authorizes the financing mechanism for a 230-unit housing development in Richmond, impacting the city's rental housing supply and the financial obligations of the local housing authority.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Richmond Redevelopment and Housing Authority

The authority is granted the legal power to issue up to $17 million in revenue bonds for the specified project.

Future residents of Commerce Heights

These individuals will have access to approximately 230 new rental housing units upon completion of the project.

What changed

Last recorded activity April 27, 2026.

What's next

Next step not available in the current record.

Summary

The Richmond City Council has approved a allowing the Richmond Redevelopment and Housing Authority to issue up to $17 million in revenue bonds. These funds will be used to acquire, build, and equip the Commerce Heights residential project, which will include approximately 230 rental units at 1410 Ingram Avenue.

Key Facts

The City Council approved the issuance of up to $17,000,000 in multifamily housing revenue bonds.
The bonds are to be issued by the Richmond Redevelopment and Housing Authority.
The funds are designated for the acquisition, construction, and equipping of the Commerce Heights project.
The Commerce Heights project is planned to contain approximately 230 multifamily rental units.
The project is located at 1410 Ingram Avenue in Richmond.
The resolution is identified as RES. 2026-R015.
The resolution was introduced and adopted on March 4, 2026.

Frequently Asked Questions

What is the purpose of the $17 million bond?

The bond proceeds will be used to acquire, construct, and equip the Commerce Heights multifamily rental housing project.

How many housing units will be built?

The project is expected to include approximately 230 rental units.

Where will the new housing be located?

The project is located at 1410 Ingram Avenue in the city of Richmond.

Why It Matters

This authorizes the financing mechanism for a 230-unit housing development in Richmond, impacting the city's rental housing supply and the financial obligations of the local housing authority.

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Housing Development Financing

The city is utilizing revenue bonds to facilitate the construction of a 230-unit rental project, indicating a focus on expanding multifamily housing capacity.

Richmond Redevelopment and Housing Authority Commerce Heights

Connected Entities

locationCommerce Heights“The name of the multifamily residential rental housing project.”Map →

location1410 Ingram Avenue“The physical address of the housing project.”Map →

organizationRichmond Redevelopment and Housing Authority“The agency authorized to issue the revenue bonds.”Map →

organizationCity Council“The governing body that adopted the resolution.”Map →

Sources

Open source document

webapi.legistar.com

Analysis Score

0–100

Significance65
How much this matters to a regular citizen
Controversy10
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz20
Current news / social attention level

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