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Chesterfield endorses $700,000 in public funding for 112 affordable apartments

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CHESTERFIELD COUNTY, Va. (WRIC) – Chesterfield County has approved public investment in much-needed affordable housing on Route 1, paving the way for construction to begin on the 112-unit apartment complex.

Map of the proposed apartment complex on Route 1, just south of Route 288. (Courtesy of Chesterfield County)

The money, however, does not come from county coffers. Instead, the $700,000 loan comes from a state program approved by former Gov. Ralph Northam last year.

The project, called Lambert Landing II, will receive state funds in exchange for a guarantee that at least 20% of the apartments will be rented to families earning less than $80,000 a year or singles earning less than 56. 000 dollars per year.

Although funding came from the state, the county still had to approve the project before funding could be sent. In its resolution, the county wrote that “private enterprise and investment are not reasonably expected, without assistance, to produce the construction or rehabilitation of decent, safe and healthy housing.”

The complex will be built in two phases, with the second phase being the target of public funding. Woda Cooper Companies, the developer, will initially build 48 2-bedroom units and 16 3-bedroom units, before moving on to the second phase with 40 2-bedroom units and 8 3-bedroom units.

Site plan of the proposed apartment complex. Route 1 is shown at the bottom of the diagram. (Courtesy of Chesterfield County)

The developer previously worked on a 68-unit affordable housing project in Hopewell called Freedman Point, which opened in 2019.

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