Richmond Flats is a housing development situated on the southeastern edge of the city. In 2019, the RDA Board granted a land acquisition loan of $1.8 million to fund the project. This project is set to increase affordable housing options in areas of the City that are classified as “high opportunity.” The development is comprised of 55 one-, two-, and three-bedroom apartments, which will be affordably priced for households earning between 25% and 55% of the area median income.