RICHMOND, Va. -- Since the pandemic began, the cost of homes in the Richmond area has skyrocketed -- but a nonprofit is working to help Richmonders find affordable houses.
Tuesday, Southside Community Development and Housing Corporation (SCDHC) celebrated the completion of its Matthews Subdivision on Chestnut Hill on Richmond's Northside.
With the help of the city and the U.S. Department of Housing and Urban Development (HUD), SCDHC developed 33 townhomes for Richmonders who make 80% below the HUD median income.
Wells Fargo and Truist Bank also made a $8.2 million investment in Richmond families.
"They have invested hard work, hard planning into a neighborhood, and it's a true community," explained Dianna Bowser, President and CEO of SCDHC. "They're so proud of it, and I'm so proud that we have made it a reality."
City leaders are expected to attend Tuesday's 11 a.m. to 1 p.m. tour of two of the townhomes at the new Matthews Subdivision.
Bowser and her team work to educate first-time homebuyers about the benefits of homeownership through virtual and in-person workshops. Then, they meet with them one-on-one to analyze their financial situation and what they're looking for in a home.
"Our job is to assist them with an action plan, so we can make that plan and their goals a reality," Bowser explained.
While Matthews Subdivision is now full, the group is currently building 22 townhomes on Richmond’s Southside. The development is going to be called The Hollands at Perry, and will be located between Perry and West 24th Street.
“Homeownership is very important, and we need everyone that wants to be a first time homebuyer to let their community leaders, city administration, county administration know that it is very important for HUD to continue to fund homeownership," said Bowser. "The funding is definitely needed to make it affordable."
If you'd like to learn more about Southside Community Development and Housing Corporation, you can contact the team here or by calling 804-231-4449.