City reaches deal for redevelopment of Public Safety Building site
Images courtesy of Capital City Partners)
Months of negotiations have reached a proposed deal for a multimillion-dollar redevelopment of Richmond’s city-owned Public Safety Building property.
Ordinances and legal documents reflecting the negotiated deal between the city administration and developer Capital City Partners were formally introduced to the City Council at its meeting Monday evening. The deal will be reviewed in committee and brought back to the council for consideration at a future meeting.
Capital City Partners, consisting of the development team that designed the former Navy Hill plan, has proposed a 20-story, VCU Health-anchored tower and mixed-use office complex that would fill the bulk of the 3-acre property at 500 N. 10th St.
Henrico County positions Best Products site for GreenCity deal
Images courtesy of GreenCity LLC)
With a pair of procedural approvals, Henrico County has taken its first step down the proverbial yellow brick road to GreenCity.
As they said they would do when they announced the $2.3 billion arena-anchored development in December, Henrico supervisors last week approved a transfer of the county-owned Best Products site to Henrico’s economic development authority, which will negotiate a sale of the 92-acre site to developer GreenCity LLC.
The EDA board voted two days later to accept the transfer, directing Executive Director Anthony Romanello to proceed with a memorandum of agreement for disposition of the property. The EDA would then begin negotiations, though the county has already said its preferred sale price: $6.2 million, the amount it paid for the property in 2011.
The Future Of: GreenCity
January 28, 2021 1
Richmond BizSense presents The Future Of…, the popular series of panel discussions focusing on themes and trends that shape the local business community. Our next topic of the year will be The Future of GreenCity.
Confirmed Panelist:
Michael Hallmark, Founding Partner of Future Cities
John Vithoulkas, County Manager of Henrico County
Guests will attend a live panel discussion via Zoom, with access to virtual networking from the comfort of their homes/offices. The ticket window will close at 10 a.m. EST the day of the event.
Registered Attendees: Please check spam and promotion folders for Zoom instructions around 10 am the morning of the event. A recording will also be provided.