On behalf of the Capital Region Collaborative, the Partnership for Housing Affordability commissioned this report to determine how we can work together to ensure adequate housing quality for Richmond residents of all incomes and circumstances.

The Partnership for Housing Affordability held a workshop in November 2014 to gather public input. Rockville Town Center in Rokville, Maryland is an example of a retrofitting retail development project. Size of Aggregated Affordability Deficit by Cost Burdent Level and AMI Category Chart Cost Burdened Households by Census Tract for the Richmond Region Map Cost Burden by Income, and Housing Stock by Level of Affordability Chart

The Social Stability Work Plan of the Capital Region Collaborative (CRC) calls for the development of “a Regional Housing Alliance to coordinate the research and evaluation of existing housing availability and impediments to achieving the goal of a community with adequate quality housing for all incomes and circumstances with access to jobs and commerce.” The CRC is a joint effort of the Richmond Regional Planning District Commission and the Greater Richmond Chamber. The CRC was formed to address issues that are not confined by city or county limits. It is a partnership between government, business, and community, committed to improving the quality of life across the Capital Region of Virginia by supporting collaboration. The CRC is made up of 18 representatives from the Greater Richmond Chamber of Commerce and 18 members of the Richmond Regional Planning District Commission (2 representatives from each of the 9 jurisdictions that make up the RRPDC). As such, the area examined in this study includes all 9 jurisdictions in the Richmond Regional Planning District: Charles City County, Chesterfield County, Goochland County, Hanover County, Henrico County, New Kent County, Powhatan County, the City of Richmond and the Town of Ashland.

The CRC asked the Partnership for Housing Affordability (PHA) to convene an alliance and develop a plan to achieve the region’s housing goals. PHA assembled a group of local housing and data experts to form the Regional Housing Alliance and commissioned this study to inform the planning process. The Virginia Center for Housing Research at Virginia Tech (VCHR) and the Virginia Commonwealth University Center for Urban and Regional Analysis (VCU CURA) collaborated with PHA to:

  1. Identify the gap between the current need for affordable housing across all income levels and the current housing supply that is available for both owners and renters.
  2. Research/identify reasons for the gap and identify specific impediments.
  3. Develop strategies for addressing the gap by reducing impediments and creating incentives for achieving the goal.
  4. Develop metrics to evaluate progress towards closing the gap.

This report to the Partnership for Housing Affordability reflects the most important results of research and analysis conducted by VCHR and VCU CURA and information on housing affordability strategies practiced by communities throughout Virginia and the United States.