Henrico County continues to prioritize its residents by seeking innovative solutions to the shortage of affordable housing. The purpose of this program is to expand accessibility to affordable housing by lowering the purchase price of newly constructed homes.
Program Overview
The Affordable Housing Trust Fund was established in 2024 to expand affordable housing options for first-time homebuyers purchasing in Henrico County. The Affordable Housing Trust Fund utilizes funds from taxes paid by new data centers to reduce the purchase price of newly constructed homes so that homeownership remains accessible to buyers who otherwise may have been priced out of the current market. Both for-profit and non-profit housing developers can complete a detailed application to receive funding and fee waivers that enable them to deliver new homes at a lower price.
Application Process
The Affordable Housing Trust Fund is administered by the County’s non-profit partner, Partnership for Housing Affordability (PHA). Individuals looking to purchase a home can learn about eligibility requirements and search available homes by visiting: https://pharva.com/homebuyers/. Developers and builders who are interested in applying for funding to produce affordable homeownership opportunities in Henrico County can learn more by visiting: https://pharva.com/developers-and-builders/.