Saint Elizabeth Apartments brings modern, affordable homes to Richmond families
VCDC is pleased to welcome Saint Elizabeth Apartments to our portfolio.
Saint Elizabeth Apartments is a new construction affordable housing community in the heart of Richmond, Virginia’s Northside that will create 56 rental homes for low-income families making 40%-60% of the Area Median Income. Saint Elizabeth is being developed by Commonwealth Catholic Charities (CCC) through its development arm, Commonwealth Catholic Charities Housing Corporation (CCCHC). The design and implementation of this community has been in the works since 2019, when CCCHC held over 15 community meetings until 2021 to learn about the housing needs of the neighborhood. The resulting development plan honors the neighborhood’s unique historical and architectural context while meeting the modern needs of the current community.
This multi-family community will feature studios and 1-, 2-, and 3-bed units configured in 14 buildings across the three-acre site. Each building includes four apartment units and is designed to resemble the shape and style of the American Foursquare homes found in the surrounding neighborhoods. Similarly, Saint Elizabeth’s stand-alone community room and rental office are designed to resemble the cottage Bungalow style also found in the area. The redevelopment of the property also includes a tree-lined urban driveway, community playground, and a walking trail linking the apartment community to the neighboring elementary school. CCCHC will provide resident services including a continuum of support from rent and utility assistance, financial counseling, intensive case management, resource identification, and food and nutritional supplements.
The site where Saint Elizabeth Apartments will be constructed has strong ties to the Richmond Catholic Diocese, originally donated in 1923 for the construction of Saint Elizabeth Roman Catholic Church. The church later expanded onto adjacent land, which became vacant in the 1980s and was returned to the Diocese.
The Diocese will provide the land for Saint Elizabeth Apartments through a 99-year ground lease. The project honors the legacy of Saint Elizabeth Church’s community service and reflects the Diocese’s ongoing commitment to supporting a racially and economically diverse urban neighborhood for the next century.
In partnership with CCCHC, VCDC has invested $9,307,119 in Low-Income Housing Tax Credit Equity through the VCDC Housing Equity Fund 27 to support the long-term success of Saint Elizabeth Apartments. In addition, our lending services affiliate provided a $1,300,000 low-interest loan to help cover hard and soft construction costs for the project. Headquartered in Richmond, Commonwealth Catholic Charities is a 100-year-old nonprofit with a long history serving vulnerable individuals throughout Virginia. The organization’s broad range of programs include interventions for people experiencing homelessness and food insecurity, immigrant and refugee resettlement support, support for families engaged in the adoption or foster care process, services for Seniors, and mental health services. Over the last decade CCC strategically expanded its capacity to provide housing services culminating in the hiring of a Vice President of Housing with diverse LIHTC development experience. Charged with utilizing the venerable organization’s resources and goodwill to create and support affordable housing, CCCHC housing development staff initiated the development of Saint Elizabeth Apartments as the first project in its anticipated LIHTC portfolio.