350-unit income-based apartment project in Northside headed for City Council vote

A rendering of one of the proposed buildings. (City documents)

One of the highest-density affordable housing proposals in the city’s pipeline is up for a deciding vote. 

Tennessee-based developer Elmington will have its proposal for Rady Flats, a 352-unit apartment project at 2811 Rady St. in Northside, heard by Richmond City Council at its meeting tonight. 

The four-building complex would rise on a 23-acre wooded parcel near the Six Points neighborhood. Elmington filed plans for the development last spring, but at the time details were scant. More particulars were revealed at this week’s Planning Commission meeting. 

Rady Flats’ buildings would reach up to four stories, with planned amenities such as a pool and clubhouse, and 528 parking spaces and 105 bike parking spaces. 

Units at Rady Flats would be available to households earning up to 60% of the area median income.

Rady Flats’ site plan.

City Council has already approved another ordinance related to the development.

In January council approved a grant that will allow Elmington to pay real estate taxes based only on the assessed value of Rady Flats’ land, not the total assessed value of the improved real estate once the project is built. It’s part of the city’s new Affordable Housing Performance Grant, a relatively new program that’s been popular among developers looking to build affordable housing in the city. The abatement would be active for up to 30 years. 

Elmington officials weren’t available for comment by press time. 

The company is asking council to approve a special-use permit for the project. The land on which Elmington is looking to build is zoned for industrial use and is owned by Payne Trucking, a firm out of Fredericksburg.

Earlier this week the city Planning Commission voted to recommend approving Elmington’s SUP request. Williams Mullen’s Preston Lloyd is representing Elmington in the process. 

Also on the agenda for tonight’s meeting is a proposal to redevelop the Westhampton Pastry Shop building at Libbie and Patterson avenues. 

Rady Flats is one of two projects that Elmington is working on in the Richmond region. Last fall it had an SUP approved for a 266-unit affordable housing development off Semmes Avenue in Swansboro. Work on that development has yet to begin. 

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