ARP: Richmond VA, Using ARP Funds to Reinvigorate Public Housing
Idea Category: Equity & Opportunity, Housing | Funding Source: American Rescue Plan
Problem
Before COVID-19, America’s housing system was far from perfect. The pandemic put a magnifying glass on issues that have been present for years, if not decades: high rents, unattainable housing prices, and insufficient affordable housing stock. As the NewDEAL Forum noted in January 2021, “these problems were especially acute for people of color. Black households are twice as likely to rent as white households, and housing costs account for a heavier cost burden: Among Black Americans, 55% pay more than 30% of their income toward housing compared to 40% of white Americans.”
Solutions
As part of Richmond’s Equity Agenda, Mayor Stoney will invest over $12 million in ARP funds to renovate and improve two of the city’s public housing complexes. One project will replace 504 existing old units, with up to 700 new apartments and homes for over 500 families. The funds for the other project will allow for the first phase of redevelopment and will ultimately result in 122 new for-sale homes.
More Idea’s From Levar Stoney
Richmond Mayor Levar Stoney Proposed Tax Relief Program to Reduce Housing Costs
Idea Category: Housing | Funding Source: ARP
Richmond Mayor Levar Stoney Announced Reaching Affordable Housing Goals Due to New Performance Grants
Idea Category: Housing | Funding Source: ARP
Mayor Levar Stoney: Mayor’s Alliance to End Childhood Hunger
Idea Category: Equity & Opportunity, Safety Net | Funding Source: ARP
Mayor Levar Stoney: A New Era for Richmond
Idea Category: Equity & Opportunity, Housing, Infrastructure | Funding Source: ARP
ARP: Richmond VA, Investing in Equity Agenda to help Children and Families Thrive
Idea Category: Child Care, Equity & Opportunity, Housing | Funding Source: ARP
ARP: Richmond Invests in Health Care Equity
Idea Category: Equity & Opportunity, Healthcare | Funding Source: ARP
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