RICHMOND, VA. — Standard Communities has broken ground on Joyfield Towns at German School, an $88 million development that will include 234 affordable three- and four-bedroom townhomes. The development is located at 250 E. German School Road in the Southside area of Richmond, Virginia. The project takes the latter part of its name from German School Road, which was named for a small school that served the area’s German immigrant community in the early 20th century.
All units will be income-restricted, including 62 units for households earning up to 50 percent of area median income (AMI) and 172 units for renters earning up to 60 percent of AMI. Tenants leasing the 62 lower-income units additionally will receive project-based rental assistance through the Richmond Redevelopment Housing Authority (RRHA).
Standard is financing the development through a combination of federal Low-Income Housing Tax Credits, tax-exempt bonds issued by RRHA and financing from Citibank and U.S. Bank. The City of Richmond is also supporting the project through its Housing Trust Fund and Affordable Housing Performance Grant.
Amenities at the ground-up development will include a clubhouse, community gathering space, playground and a dog park. Residents will also have access to on-site supportive services provided by Ounce of Care, a New York-based resident-services company serving affordable housing communities. Completion is slated for 2028.