Economic & Community Development News

March 5th, 2018

Local developer Hourigan Group announces that they will be developing Deepwater Industrial Park, located along the I-95 corridor near the Richmond Marine Terminal. The 110-acre site will feature up to 1.5 million S.F. of build-to-suit, high-bay warehousing space and is an ideal location for companies seeking a prime East Coast destination hub.

March 5th, 2018

Feb. 22, 2018: reports on a new study by online lendinge exchange LendingTree that Richmond, VA ranks 9th as a best U.S. for a fresh start. The study included eight elements that would impact a person's launch in a new city, including the cost of housing, median income, and rates of health insurance coverage. Read more.

March 5th, 2018

Feb. 26, 2018: According to Forbes, "Virginia's historic capital is buzzing with young energy and signature southern charm." Read more.

March 5th, 2018

Feb. 6, 2018: "From humdrum to happening." Lonely Planet names Richmond a top 10 destination for 2018. Read more.

March 5th, 2018

Feb. 1, 2018: According to Richmond Times Dispatch, Fodor's Travel lists Richmond among '19 U.S. cities with an unexpectedly international foodie scene. Read more.

March 5th, 2018

Feb. 18, 2018: notes that Richmond is "adding millenials at nearly double the average rate of other U.S. cities," and boasts affordable housing, a solid knowledge base from local universities, and top-tier employers like Amazon, Capital one, and Facebook. Read more.

March 5th, 2018

Jan. 29, 2018: VinePair names Richmond the top beer destination in the world for 2018. Read more.

January 30th, 2018 ranks Richmond, VA as the #1 top beer destination in the world for 2018. Ahead of cities such as Seoul, South Korea, Chicago, Beijing, and New York City, Richmond is noted for going from one to 22 craft breweries in less than 10 years in just the city itself. Read more.

November 9th, 2017

Richmond, VA- Mayor Levar M. Stoney today formally announced that the city has posted a Request for Proposals (RFP) to spur redevelopment of a significant portion of real estate located in the neighborhood north of Broad Street in downtown Richmond.

The RFP addresses a project area that is generally bounded on the west by North 5th Street, on the north by East Leigh Street, on the east by North 10th Street and on the south by East Marshall Street. The project area consists of properties that have been identified as an economic opportunity area in the Pulse Corridor Plan, which was recently adopted by City Council as part of the City’s Master Plan.

The North of Broad/Downtown Neighborhood Redevelopment Project will include a number of economic development components aimed at revitalizing underutilized city assets and improving the quality of life for Richmond residents in the areas of employment, housing and transportation.

Components to be addressed by potential respondents include:

* A replacement for the Richmond Coliseum

* Mixed income and affordable housing

* Local job creation and local hiring with Minority Business Enterprise and ESB participation goals

* A replacement of the GRTC transfer station

* A Convention Center hotel

* Historic preservation and adaptive reuse of the Blues Armory

“The goals of this RFP are bold,” said Mayor Stoney, but provide an opportunity to achieve a number of strategic objectives for the City. “To expand economic development and affordable housing opportunities; to generate revenue while achieving poverty mitigation through jobs and training; to provide historic preservation and community revitalization, to promote and support tourism, and to ensure sustainable development and investments in infrastructure.”

But Mayor Stoney made it clear that the City will not entertain any proposals that require the city to use its existing tax revenue or debt capacity to fund the project.  The City will not incur any moral or general obligation bonds to fund any private component of a proposal, but is willing to consider proposals that incorporate tax increment financing or the creation of special service districts.

“We have too much to do for schools, housing, roads and other city priorities to leverage our limited borrowing capacity for this redevelopment,” Mayor Stoney said.

Prospective developers will have 90 days to submit proposals. City officials expect this to be a highly competitive process. A copy of the RFP can be found here.

“We are setting a high bar for our respondents,” said Mayor Stoney. “But that’s what we have to do if we want true neighborhood revitalization. This is a great opportunity for our city, and we want all of Richmond to benefit. By leveraging City-owned land, we can achieve transformational change. We look forward to receiving proposals that will continue our growth and serve the best interests of Richmond.”The City of Richmond is please to release a Request for Proposal (RFP) for the North of Broad/Downtown Neighborhood Redevelopment Project, an opportunity to redevelop a major portion of the City's downtown area.



November 3rd, 2017

Richmond Bizsense reports that Net-zero engineering firm CMTA locates office in the city of Richmond's Scott's Addition neighborhood. Learn more.

City of Richmond
Economic & Community Development

Main Street Station
1500 East Main Street, Suite 400

Richmond, VA 23219