Norfolk’s Own Housing Authority Subsidiary Still Invests Millions Everywhere But Norfolk

https://www.youtube.com/channel/UCFRsz0wQzFOpQG6\_HUwLMRA/join Norfolk’s for-profit housing-authority subsidiary continues to direct New Markets Tax Credits out of the city while local leaders say the money should be working at home. Hampton Roads Ventures, created by the Norfolk Redevelopment and Housing Authority in 2003, has not backed a project inside Norfolk since 2008. In the past year it helped finance a $12 million Food City grocery store in rural Marion, a $10 million piece of a Rural King distribution center in Martinsville expected to create 150 jobs, and a $3 million supermarket project in Chalmette, Louisiana. None of the projects are in Norfolk. The annual report required by a City Council resolution passed more than four years ago outlines no efforts to invest in the city or the region. Council members called the outcome disappointing but not surprising. Carlos Clanton questioned whether the reporting gives a full picture of HRV’s financial activities. Jeremy McGee, co-chair of the city’s housing commission, said there is an opportunity to redirect the firm’s profits—usually more than $1 million a year—to address the housing crisis. John “JP” Paige noted the city needs grocery stores now. Courtney Doyle said she continues to be disappointed that year after year the entity does not invest in Norfolk and shows no interest in doing so. Mayor Kenneth Alexander did not respond to requests for comment. HRV CEO Jennifer Donohue also did not respond. The host notes that this is a Democrat-run city using the auspices of a public body to move tax incentives and public money into projects elsewhere while Norfolk still has 16 severely distressed census tracts. He points out the irony that the Redevelopment and Housing Authority’s own subsidiary is not redeveloping or investing in the city it was created to serve. Profits have been transferred to NRHA ($850,000 so far this year; more than $5.2 million since earlier reporting), and a previously unreported $300,000 donation went to Norfolk State University athletics after Michael Vick was hired. Transparency questions remain: donations have not always appeared in the required reports, and HRV has denied public-records requests despite being wholly owned by a public body. The pattern has held for 18 years. Allocations have grown to roughly $470 million. Other community-development entities typically focus locally. Norfolk is still waiting. Like, comment, and subscribe for more Virginia news that hits the Commonwealth. Hit the notification bell. Source: Virginia Mercury https://virginiamercury.com/2026/10/19/norfolk-backed-firm-invests-millions-elsewhere-as-city-waits/