Mayor Levar M. Stoney today
announced that the city administration has completed negotiations with The NH
District Corporation (NHDC) on a transformational, economic development plan to
revitalize downtown Richmond and dramatically increase the city’s capacity to fund
education, housing, transit, streets and neighborhoods for generations to come.
The plan, subject to the
approval of Richmond City Council, will be submitted in the form of ordinances
and supporting legal documents introduced at a special meeting of the council to
be held on Monday, August 5.
“The ordinances
we will deliver to the city council on Monday propose a responsible and
inclusive opportunity to grow our economy by creating a thriving city center
and community,” said Mayor Stoney.
“The agreement we
have negotiated ensures that the Navy Hill development project will create thousands
of jobs, hundreds of affordable housing units, job-training opportunities, new
revenue, and world-class amenities for ALL Richmonders,” the mayor added.
The proposed
project will redevelop significant portions of Richmond’s under-utilized
property downtown, turning valuable land that costs the city money today into
properties that generate revenue tomorrow.
The $1.5 billion project
is expected to generate $500 million in annual wages in the region, in addition to an estimated $1 billion in surplus revenue to the city over
30 years for priorities such as education, housing, streets and the arts.
Highlights of the
negotiated proposal include:
· 12,500 jobs in construction
and 9,300 permanent jobs
· 480 affordable housing units,
with a pathway to hundreds more
· $300 million in minority
business participation, largest in city history
· New GRTC bus transit center
· Renovated historic Blues
Armory
· New arena to replace the
Richmond Coliseum
· New 525+-room Hyatt Regency hotel
“This project is
not only the largest economic development project in the city’s history, but also
the largest economic empowerment
project in our city’s history,” the mayor said.
“The overarching
goal for this proposal is to significantly improve the quality of life for all
Richmond residents.”
Under the
proposed agreement, the Department of Social Services will stay in its current
location until a future home can be found downtown. If another home cannot be found for DSS, the city will be under no
obligation to move from its existing facility at Marshall Plaza.
Thursday’s announcement
follows 17 months of intensive negotiations between the city and Richmond-based community
leaders of the nonprofit NH Foundation on behalf of NHDC, working with the developer,
Capital City Partners (CCP).
As negotiated, the agreement
accomplishes the city’s goals without
utilizing debt capacity, and without taking any existing tax money away from
our schools or services. It does so without raising taxes, and without any
subsidies or handouts for the developers of this project.
“During this time,
we worked hard to memorialize in legal documents unprecedented protections for
the city to ensure this project will be a safe and responsible investment for
Richmond without leaving the City or taxpayers on the hook,” said Chief
Administrative Officer Selena Cuffee-Glenn, the lead negotiator of the city’s
team. “As the mayor has said, we’ve dotted the “i’s” and crossed the “t’s,” and
the language in the ordinances will make sure that what we have agreed will
happen, does happen.”
The public
process now begins in earnest. Leaders
of NHDC and CCP have committed to a series of public outreach and engagement opportunities
with city residents in the coming weeks in addition to participating in the
legislative process with city council and the Navy Hill Development Advisory
Commission it formed to evaluate the proposal over the next 90 days.
“NH District Corporation’s
goal is to help create a diverse downtown neighborhood that welcomes everyone,”
said Dr. Monroe Harris, NH Foundation Board member. “Lots of people have worked
hard to shape this plan, and we are excited to share the full detail of the
project next week.
“We look forward to hearing
the community’s feedback and to working with neighborhoods, Richmond residents,
and the city council to shape the downtown we all deserve for the city we
love.”
NHDC has also set up a
website to share information and answer questions about the project, which can
be accessed here.
Upon formal introduction
of the ordinances on Monday, the original proposal submitted by NHDC, the
request for clarifications document and the ordinances themselves will all be
posted on the city’s
website and accessible to everyone. The city’s original Request for
Proposal and previously released public documents on the project can also be
found here.
“Now is the time
for the public to see for themselves how this will benefit all Richmonders, and
for the members of City Council to begin their review,” said Mayor Stoney.
“I fully support
City Council taking the time it needs to review this project, and I also
encourage the public to engage and ask questions of the developer, which is
ready and excited to share the details of this project. Everyone will have the
chance to kick the tires, as we have.”
News of the
project moving forward was welcomed by local elected and area leaders.
“Richmond
Region Tourism is thrilled with today’s announcement,” said Jack Berry,
president and CEO of Richmond Region Tourism. “This is a game changer for our
destination. This will put our convention and tourism industry on a larger
national platform.”
Sheryl
Adams, Interim CEO of GRTC, said the development and the new GRTC Transit
Center it will build will enhance the customer service experience for the
city’s mass transit riders.
“We
look forward to a permanent transit facility Downtown for our customers and
employees to provide safe, sheltered and convenient connections between buses,”
she said.
“This project is
an opportunity for our city to take another very big step in the right
direction of inclusivity, equity and opportunity -- one I believe can have a
positive and transformative impact on Richmonders today, tomorrow and for years
to come,” said Mayor Stoney.
For additional
background and answers to frequently asked questions, see the attached
document: http://www.richmondgov.com/PressSecretaryMayor/robocopy/documents/Navy_Hill_Background_Attachment.pdf
For information
on Navy Hill, contact: Jeff Kelley, (804) 397-9700 or visit www.navyhillrva.com
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