Standard Communities Breaks Ground on Nearly $90 Million Richmond Development that will Deliver 234 Affordable Townhomes

Public-private partnership with the City of Richmond, RRHA and Virginia Housing creates community for working families.

RICHMOND, Va., October 20, 2026--Standard Communities, one of the nation's largest and fasting growing affordable housing investors, developers and operators, broke ground today on Joyfield Towns at German School, an $88 million development that will deliver 234 affordable three- and four-bedroom townhomes to South Richmond. Joyfield Towns at German School is the third Joyfield Living community to bring brand-new construction with luxury finishes and fixtures at a price that working families can afford.

The development brings together federal resources, private investment, and local support to serve households earning 50%–60% of area median income that for a four-person household represents a family earning between $56,750 and $68,100 a year. Those families at the top of that income range will be paying $1,653 and $1,836 for 3- and 4-BRs respectively, compared to area market-rate rents for a similar community that averages $2,800 and $3,000 for 3- and 4-BRs, respectively.

"My mom was a public high school teacher in Virginia, and growing up I often heard about the students in her class who were struggling," said Joe Ouellette, Chief Operating Officer of Standard Communities. "More often than not, the reason wasn't the classroom at all. It was instability at home. When families can count on a quality home they can afford, kids can make the most of their education, and that opens doors for the rest of their lives. I'm excited that Joyfield Towns will give more Richmond families the opportunity to not just get by, but to thrive."

"I'm excited for this intentional project that will bring affordability for the residents of the 9th district," said Richmond City Councilmember Nicole Jones. "It's how we keep our community whole. Projects designed with residents in mind will give families a dignified place to call home."

"A strong community starts with a safe, quality place to call home," said Steven Nesmith, Chief Executive Officer of the Richmond Redevelopment and Housing Authority. "For too many Richmond families, finding housing they can afford remains a challenge. Joyfield Towns at German School represents the kind of partnership we need to expand housing choices, strengthen neighborhoods and create more opportunities for residents to build a stable future. RRHA's investment of over $25,000,000 in Project-Based Vouchers over the next 15 years will increase the housing options for eligible families needing larger sized units."