Bids on RRHA houses generate $1.4M
7/7/2017, 7:01 a.m.
Bidders offered a collective $1.4 million for 26 vacant houses that the Richmond Redevelopment and Housing Authority auctioned last week. That’s an average of nearly $54,000 per house, according to the final tally.
RRHA officials indicated that the total is about double what officials anticipated the properties scattered around the city would generate.
Dozens of bidders participated in the June 29 auction at the Greater Richmond Convention Center.
The final bids still need approval from the U.S. Department of Housing and Urban Development, the actual owner, before the sale is complete. — JEREMY M. LAZARUS
