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# Affordable housing performance grant: The Cove
- URL: https://www.richmonder.org/affordable-housing-performance-grant-project-name-here-9/
- Published: 2025-07-22T21:16:18.000Z
- Updated: 2025-07-22T23:43:44.000Z
- Author: Richmonder Staff
- Tags: #hide

🏘️

This item is part of a larger project on affordable housing grants in Richmond. [****See the full project here.**](https://www.richmonder.org/it-might-be-richmonds-biggest-push-to-create-affordable-housing-but-many-residents-dont-even-know-it-exists/)

**Recipient:** 512 Hull Street, LLC / Property Results

**Project Name:** The Cove

**Address:** 512 Hull St., Richmond, VA 23224

**Number of units required:** 65

**Required investment:** $650,000

**AMI requirements:** 50 units at 80% AMI average; 15 units at 50% AMI average

**Estimated annual grant:** $92,722

**Approval date:** 7/22/2024

**Project status:** Completed

**Documents:** [Ordinance](https://richmondva.legistar.com/LegislationDetail.aspx?ID=6780558&GUID=7DE0C9C3-74B7-4079-974A-25A7EF9C35A1&Options=ID%7CText%7C&Search=512+hull+street); [building website](https://propertyresults.net/the-cove/#)

**Deadline for construction start (18 months after approval):** Granted retroactively

**Deadline for construction completion (3 yrs after start):** Granted retroactively