Chesley Mutual Housing, completed in 2005, is another CHDC project that significantly upgrades North Richmond’s affordable rental opportunities. After the project completes its 15-year tax credit financing period, CHDC also plans to set up a mutual housing ownership structure that will invite residents to serve on the property’s board of directors and possibly hold a collective ownership stake.
CHDC and Eden Housing, Inc. co-developed the 30-unit development at 802 Chesley Avenue in partnership with the City of Richmond’s Redevelopment Agency. The architectural firm of Kodama Diseño created a lively and colorful design for the complex, with well-defined shapes and skillfully mixed arrangements of unit sizes and exteriors. The buildings center around an enclosed, sunny courtyard with a lawn and play structure for small children. A 1,900 square foot community building at the front of the complex houses the management office, resident services office and a spacious community room.
The apartments and townhouses at Chesley are rented at rates affordable to families earning up to 30%, 40%, and 50% of the area median income. This means that a family of three living at Chesley will typically will earn between $22,000 and $38,000 annually.
The $9.8 million develop