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Home Builder's Focus on Affordable Homes 'Energizes' Richmond Market

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Affordability

Home Builder's Focus on Affordable Homes 'Energizes' Richmond Market


November 5, 2020
Row of homes
Photo: Irina Shoyhet

Richmond-based builder Center Creek Homes only launched two years ago, but is making waves in the city by building low-income housing. According to Richmond Biz Sense, the home building company currently has dozens of homes under construction or in development. The most recent project takes land previously zoned for two single-family homes and will now house five smaller attached homes. One of these homes will be priced at $180,000 for income-qualifying buyers while the other four will be priced at about $260,000. Center Creek Homes received a special-use permit from the city in order to change zoning for the lots.

CEO Dan Magder, who founded Center Creek with COO and childhood friend Greg Shron, points to the project as a model of successful collaboration between the private and public sectors, and of maximizing use of available land.

The company designed the project with input from City Councilmember Cynthia Newbille and area group New Visions Civic League, while funding assistance from the city’s Department of Housing and Community Development allowed for the lower-priced home to be achieved, Magder said.

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