Affordable housing performance grant: Walmsley Gardens
🏘️
This item is part of a larger project on affordable housing grants in Richmond. See the full project here.
Recipient: Walmsley Gardens, LLC / Crescent Development & Spy Rock Real Estate
Project Name: Walmsley Gardens
Address: 4824, 4830, 4838, 4850, 4870, 4890 Walmsley Blvd., Richmond, VA 23224
Number of units required: 216
Required investment: $2,760,000
AMI requirements: 60% AMI average
Estimated annual grant: $702,661
Approval date: 10/10/2023; amended 6/24/2024
Project status: Under construction
Documents: 2023 ordinance; 2024 ordinance
Deadline for construction start (18 months after approval): 12/24/25
Deadline for construction completion (3 yrs after start): 12/24/28
