Overview
In 2020, Timmons Group partnered with Better Housing Coalition (BHC), Richmond’s largest nonprofit community development corporation, on The Planet Apartments project with the goal of bringing high-quality, affordable housing options to the Jackson Ward neighborhood in Richmond, Virginia. The newly constructed apartments welcomed their first residents in September of 2023.
Located at the corner of Cameo and Jackson Streets in the historic Jackson Ward neighborhood, the Planet Apartments consist of 67 one-, two-, and three-bedroom income-restricted units. The affordable housing apartment community sits on 1.5 acres that is situated in close proximity to Interstate 64-95 and multiple bus lines, which offers tenants a variety of multimodal transportation opportunities.
As a nod to the historic neighborhood, the 76K SF three-story apartment building is named for the Richmond Planet newspaper, which honors the rich history and important contributions of one of America’s first African American newspapers. Interior design of the community lends itself to the newspaper through accents of bright colors, uniquely angled walls, and modern lighting fixtures that resemble planet spheres.
Residents of The Planet Apartments will have annual household incomes between 40% – 60% of the Area Median Income (AMI). Residents have access to various amenities, including first-floor patios, second- and third-floor balconies, a rooftop deck, and a community room.
The Planet Apartments broke ground in May 2022 and were completed in September 2023. The development costs for the apartment community are estimated at $19.6 million.
