East End revitalization project receives $2.5M state grant | Apartment Loan Depot Since 2005 – Fannie Mae and Freddie Mac Multifamily Loans Nationwide

(RECAP: A major redevelopment project in Richmond’s East End will receive a $2.5 million grant from the state, Gov. Terry McAuliffe announced Wednesday. At an event on the lawn of the ancient Armstrong High School building, McAuliffe said the Richmond project will be one of the first beneficiaries of a new funding program to support affordable and mixed-income housing. The mixed-income development plotted for the Armstrong site, part of a larger effort to break up poverty in the East End, will include 40 townhouses for sale and 240 rental units for seniors and families. Some rental units will serve as replacement housing for residents of the Creighton Court public housing site. McAuliffe announced that another $2.5 million grant will go to a similar mixed-income housing project in Montgomery County at the site of a former elementary school.)