Henrico County Channels Data-Center Revenue Into Housing
Henrico County, Virginia, is diverting new tax revenue from more than $1 billion in data-center investments by companies like Meta and Google into an Affordable Housing Trust Fund that recently subsidized starter homes for buyers earning 60%–120% of area median income. The fund provides tens of thousands in per-unit grants—examples include $112,000 reductions on $465,000 townhomes—aiming to offset a roughly 32% rise in median sale prices since 2020.
Key Points
- 1Channels new tax revenue from >$1 billion in data-center investments into an Affordable Housing Trust Fund
- 2Offsets rising housing costs—median sale prices up 32% since 2020, income needed up about 70%
- 3Enables developers and public agencies to deliver deed-restricted starter homes affordable to 60%–120% AMI buyers
Scoring Rationale
High practical novelty and replicability drive the score, though scope is localized to one county limiting immediate nationwide impact.
Sources
Public references used for this report.
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