Commerce Heights multifamily proposal enters federal public-comment period in Richmond
A proposed multifamily housing development at 1260 Ingram Ave. in Richmond has entered a federal public-comment period tied to proposed mortgage insurance from the U.S. Department of Housing and Urban Development.
The Virginia Department of Environmental Quality published notice that HUD proposes to provide Section 221(d)(4) mortgage insurance for the new construction of Commerce Heights. The notice identifies Berkadia Commercial Mortgage LLC as the applicant.
Comments are being accepted from July 20 through Aug. 14, 2026. The notice marks a review step for the proposed development, not a final financing approval or a construction start.
What the notice covers
Commerce Heights is proposed as new multifamily construction at the Ingram Avenue address. HUD’s Section 221(d)(4) program is the specific mortgage-insurance program identified in the public notice.
The published notice does not state how many homes the project would include, its total development cost, a construction timetable or a planned completion date. It also does not identify an affordability mix or affordability requirements for the proposed homes.
As a result, the available notice does not establish that the development has received final federal insurance, secured financing or moved into construction. The Aug. 14 deadline is the end of the stated public-comment period, not a project completion deadline.
Roles and next step
HUD is the federal agency proposed to provide the mortgage insurance. DEQ published the public notice, and Berkadia Commercial Mortgage LLC is listed as the applicant. The notice gives residents, agencies and other interested parties a defined period to submit comments before the review process advances.
No closure, traffic change, construction disruption or service impact is identified in the notice. Nor does the notice identify particular neighborhoods beyond the project’s Richmond address.
Housing-policy context
The Commerce Heights review comes as Richmond’s housing agenda identifies expanding housing supply and transit-oriented development as priorities. Separately, the city says City Council unanimously passed a new Affordable Housing Trust Fund ordinance on July 23, 2026.
The city’s housing agenda and trust-fund ordinance are broader policy actions. The available materials do not state that either action funds Commerce Heights or changes the status of HUD’s proposed mortgage insurance for the project.
For Commerce Heights, the known near-term milestone remains the public-comment deadline of Aug. 14. Further action on insurance, financing, construction or the project’s eventual operation would require information beyond the published notice.
Sources
- Public Notice – Commerce Heights, Virginia Department of Environmental Quality
- Mayor Danny’s Plan for Affordable Housing, City of Richmond