900 E. Broad St., Suite 201
Navy Hill Development Project
In 2017, the City of Richmond announced a request for proposal for the revitalization of the city's downtown. After 21 months of negotiations with the respondent, Navy Hill Development Corporation, a plan to revitalize the city center and create a catalyst to increase funding for education, housing, transit, streets and other core city services has been publicized.
Included in the section below are significant documents from throughout the process. Explore the drop-down timeline to learn more about the revitalization of Richmond's downtown.
January 6, 2020 - The administration offers context for the Navy Hill Commission Report
December 5, 2019 - Navy Hill District Corp. offers a rebuttal to Meagher's presentation to the Navy Hill Advisory Commission
December 6, 2019 - MuniCap provides additional projections
December 7, 2019 - Navy Hill Advisory Commission meets
- Click here to access the overview presentation.
- Click here to access the legal protections presentation.
- Click here to access the Better Housing Coalition presentation.
- Click here to access the Citigroup presentation.
- Click here to access the MuniCap presentation.
December 11, 2019 - The administration responds to questions from the Navy Hill Advisory Commission
December 14, 2019 - The administration and Davenport present to the Navy Hill Advisory Commission
- Click here to access the school funding presentation.
- Click here to access the Davenport Credit Rating/Debt Capacity presentation.
December 17, 2019 - The administration responds to questions from the Navy Hill Advisory Commission
December 20, 2019 - The administration responds to questions from the Navy Hill Advisory Commission
December 22, 2019 - Navy Hill District Corporation provides information to the Navy Hill Advisory Commission
- Downtown retail opportunities
- Navy Hill Condo
- Overview of rental apartment project feasibility
- Hotel overview
- Richmond office market overview
- Greater Richmond Partnership - Strategic Insights from Leading Site Selectors
- Colliers Memo regarding Navy Hill proposed project
December 23, 2019 - The Navy Hill Advisory Commission issues its final report
November 2, 2019 - Davenport presents to the Navy Hill Advisory Commission
November 11, 2019 - Orrick issues a legal protections and safeguards memo
November 21, 2019 - The administration provides responses to questions from the Navy Hill Advisory Commission
November 22, 2019 - The administration provides responses to questions from the November 4 Council work session
November 25, 2019 - Navy Hill District Corporation offers a presentation on the proposed arena to a Council work session
November 26, 2019 - Mayor Stoney provides for the public a video of his first Navy Hill Town Hall, as well as the Powerpoint presentation accompanying his meeting
November 30, 2019 - Navy Hill District Corporation offers information on the proposed transit center to a Navy Hill Advisory Commission meeting
October 3, 2019 - Department of Planning and Development Review provides a staff report to Council
October 4, 2019 - City provides answers to questions raised at the Organizational Development meeting
- Click here to access the responses to the questions raised by City Council at the September 23 council work session.
- Click here to access the Davenport Cash Flow Impact Analysis.
- Click here to access the tax increment financing projection prepared by Municap, Inc., a public finance advising firm.
October 5, 2019 - Advisory Commission meets
October 7, 2019 - Orrick presents at the Council Work Session
October 10, 2019 - Administration provides answers to questions from the October 3 work session
October 11, 2019 - The administration and Davenport respond to the October 7 Council work session
- Click here to access the responses to questions from the October 7 council work session.
- Click here to access the Davenport Cash Flow Impact Analysis.
- Click below to access Coliseum financials from:
- Click here to access the Municap Projection.
October 14, 2019 - Davenport/Municap/Citi present at Council work session
October 15, 2019 - After a 7th District meeting, the administration provides answers to questions
October 19, 2019 - After a Navy Hill Advisory Commission meeting, the administration provides answers to questions
October 24, 2019 - The administration provides answers to questions from the October 14 work session
October 28, 2019 - Orrick presents to a Council work session
October 31, 2019 - The administration provides answers to questions from the October 28 Council work session
September 3, 2019 - Davenport and Company Presents to the Organizational Development Committee
The city's financial advisor, Davenport and Company, presented to the Organizational Development Committee of Richmond City Council. The materials from this meeting are available to the public below.
- Click here to access the Fiscal and Economic Impact Analysis.
- Click here to access the Richmond City Council presentation given on September 3.
- Click here to access the frequently asked questions sheet provided by Davenport.
- Click here to watch the video of the Navy Hill Organizational Development meeting.
September 10, 2019 - A Navy Hill Informational Meeting of the Planning Committee
The Planning Commission met to hear an informational presentation on Navy Hill.
- Click here to access a video of the special planning commission meeting.
- Click here to access the written summary of the meeting.
September 13, 2019 - City Provides Answers to Questions Raised at the Organizational Development Meeting
- Click here to access the administration's response to the questions posed by Richmond City Council at the September 3 Organizational Development Committee meeting.
September 23, 2019 - City Council Hosts Navy Hill Work Session
City Council hosted a Navy Hill Council Work Session. At the beginning of this work session, the administration offered a presentation for general overview. Click here soon to access that presentation.
- Click here soon to access the presentation given by the Navy Hill developers.
- Click here to view the entire video of the work session.
August 5, 2019 - Stoney administration announces that negotiations for the Navy Hill Development Proposal had concluded
The Mayor also introduced a package of legislation to City Council. Upon introduction, the members of City Council were provided with binders containing one resolution and nine ordinances, including the entire development agreement. Below are the entire contents of each binder.
- O&R Request and Fiscal and Economic Impact Statement
- Ordinance creating city special revenue fund
- Ordinance to convey certain currently city-owned real estate to the Economic Development Authority
- Ordinance to convey certain currently city-owned real estate to the NH District Corporation
- Ordinance reconfiguring portions of public right-of-way
- Ordinance authorizing certain encroachments in the public right-of-way
- Ordinance to modify the zoning regulations applicable in the CM Coliseum Mall District
- Ordinance to rezone certain properties from the B-4 Central Business District to the CM Coliseum Mall District
- Ordinance to designate certain streets as either priority streets or street-oriented commercial streets on the official zoning map
- Resolution establishing the key funding priorities for the project's revenue surplus
- Ordinance authorizing the execution of the development agreement
- Development agreement
- Exhibit A - Cooperation agreement
- Exhibit B1 - Form of arena lease
- Exhibit B2 - Form of armory lease
- Exhibit C - Form of purchase and sale agreement
- Exhibit D - Open space/public areas
- Exhibit H - Right of way reconfiguration conditions
- Exhibit I - Utility terms and conditions
- Exhibit J - Project schedule
- Exhibit K - Map depicting development parcels
- Exhibit L - Master plan
- Exhibit M - Affordable housing covenants
- Exhibit N - Hotel use covenant
- Exhibit O - Form of performance and payment bond
- Exhibit S - Right of entry agreement
- Exhibit T - Key personnel
August 7, 2019 - City Financial Advisor Fiscal Impact Report for City Council
City code requires that City Council be provided with a fiscal impact statement upon the introduction of the North of Broad/Downtown Neighborhood Redevelopment Project. The city, in coordination with financial advisor Davenport and Company, provided that statement to council along with a visualization in council chambers.
November 1, 2018 - Mayor Stoney announces the agreement in principle with NH District Corporation on the observation deck of City Hall
From the Office of the Press Secretary, November 1, 2018:
Mayor Announces Agreement in Principle on North of Broad Development
Mayor Levar M. Stoney today announced that the City of Richmond has reached an agreement, in principle, with the nonprofit NH District Corporation for the development of the Navy Hill neighborhood north of Broad Street. Pending final negotiation and satisfactory resolution of several outstanding details, the administration will submit ordinances to the Richmond City Council in the coming weeks for consideration and public deliberation.
- The independent, third-party analysis of the proposed North of Broad project by Hunden Strategic Partners, Inc. can be found here.
- Click here to watch Mayor Stoney's remarks.
- Click here for a transcript of Mayor Stoney's remarks as prepared.
November 16, 2018 - Mayor Stoney Announces Key Priorities for Navy Hill Project Surplus in a Press Conference
From the Office of the Press Secretary, November 16, 2018:
Mayor Stoney Announces Key Priorities for Navy Hill Project Surplus
Additional $1.2 billion over 30 year dedicated to Education (50%), Housing (15%) and the Arts (1%).
Mayor Stoney announced his intention today to dedicate significant portions of the surplus revenues from the Navy Hill Redevelopment Project to his core priorities of education and housing. The Mayor’s proposal, which will be included in the ordinances submitted to city council in the coming weeks, would direct 50 percent of surplus revenues from the Tax Increment Financing district to support Richmond Public Schools, 15 percent to support housing opportunities and homeless services and 1 percent for art, history and cultural opportunities. The remaining 34 percent would remain in the general fund for investments in public safety, public works and other core city services.
“By dedicating significant portions of the surplus revenues that this project will create to our top priorities of education, housing opportunities, and arts and culture, we are following through on my commitment that this project will truly be the greatest economic empowerment project in our city’s history,” said Mayor Levar Stoney.
The city’s third party analysis estimated the Navy Hill Project would generate $1.2 billion in surplus revenues to the City General Fund over 30 years. The Mayor’s proposed distribution of surplus revenues would provide an estimated $600 million for schools to use on operations or could be bonded for infrastructure and capital needs, in addition to the $34 million projected to be generated from the 1.5% of meals tax collections that will still go to the special fund for school construction. $180 million would be available for investments in housing needs such as affordable housing opportunities, public housing transformation and homelessness services intervention. $12 million would be dedicated for public projects that add to the artistic, cultural and historic assets of the city. In addition to these commitments, an additional $400 million would be available for the city to invest in neighborhoods through roads and infrastructure improvements, police and fire services, as well as other city services.
“I believe the 21,000 jobs, nearly 700 units of affordable housing and the more than $300 million in opportunities for minority business that the Navy Hill project will create already provides tremendous economic opportunities for our residents. But I’m just as excited about its potential to generate significant revenues that we can use to build a world-class educational system, to improve housing opportunities for all our residents, and to invest in art and cultural projects that tell our full and complete history. This type of project will truly enable us to build One Richmond,” said Mayor Stoney.
The Mayor’s plan won immediate support from leaders of Richmond Public Schools, who were in attendance for the announcement outside of George Mason Elementary School in Church Hill.
“This partnership is a signal of new collaboration between RPS and the City,” said RPS School Board Chairwoman Dawn Page. “I want to thank the Mayor for listening and prioritizing our children. There is much more to do, but this agreement helps us move forward together.”
“This is an important symbol of what we can achieve when we work together as One Richmond,” said Richmond Public Schools Superintendent Jason Kamras. “Starting in 2023, this revenue will allow us to rebuild at least another half dozen schools. That means thousands of children will have a beautiful, modern building to walk into every morning. Of course, this doesn’t solve our facility challenges, nor does it address our immediate need for more instructional dollars. But it’s a significant step in the right direction.”
Advocates for improving housing opportunities in the city also voiced support for the plan.
“This level of investment into affordable housing will change so many lives,” said Councilwoman Ellen Robertson, Chairwoman of the Richmond Affordable Housing Trust Fund. “Right now, too many Richmonders are living in unsatisfactory conditions and we haven’t had the resources to adequately help tackle this problem. This proposed financial pledge to housing and homelessness services is exactly what our city and our citizens need.”
“This distribution of surplus revenue which directs 15 percent to housing goes a long way in finding the funds needed to rehabilitate or replace aging buildings in our public housing communities and bolster our homeless services. Everyone in Richmond deserves a high-quality home, and Mayor Stoney’s proposal affirms that it’s a priority,” said Robert Adams, Chairman of the Board of Commissioners, Richmond Redevelopment and Housing Authority.
“This announcement of an estimated $180 million over the next 30 years, in conjunction with the already announced commitment of nearly 700 affordable housing units, will change the face of housing for this city,” said Greta Harris, CEO of the Better Housing Coalition. “It will address head-on the housing crisis and homelessness and help us build an inclusive community that sends a message that Richmond welcomes and serves residents of all income levels.”
“It’s no secret that Richmond’s culture is strongly rooted in history and the arts. This commitment that the Mayor has put forward will be a significant investment in our community arts and culture programming. It is, in part, recognition that a city without arts and culture is a city without a soul. And if there’s one thing we know, Richmond has soul,” said Sarah Cunningham, Chairwoman of the Richmond Public Arts Commission.
While the Navy Hill Project still requires City Council approval, the Mayor’s plan to dedicate a significant portion of the surplus revenue to education, housing and the arts was met with support by members of City Council.
"While I will fully vet the Navy Hill proposal with the community and council, I would strongly support the Mayor's proposed allocation of the largest portion of the anticipated revenues to be generated by the project to go to our public schools, followed by housing and core services,” said Council Vice-President Cynthia Newbille. “Education and housing are the city’s most critical needs and require more resources. And the arts and cultural component will go a long way in helping to bring art into our neighborhoods to help tell the history of our city and highlight the culture of our communities.”
I look forward to reviewing this proposal carefully to ensure that it delivers all that it promises. However, I think dedicating 50% for schools, 34% for core services, 15% for affordable housing is a clear demonstration of meeting the City’s commitment to these priorities,” said City Council President, Chris Hilbert. “This is a very positive development in this process and I welcome the Mayor’s decision to pursue this avenue.”
September 11, 2018 - City administration provides an update on the progress of the conversations with NH District Corporation via press release
From the Office of the Press Secretary, September 6, 2018:
Update on North of Broad Development
After months of thorough negotiations, the city administration is pleased to report significant progress in its discussions with NH District Corporation on the proposed North of Broad Development. Negotiators for the city report consensus among the parties on Mayor Stoney’s key priorities regarding affordable housing, minority business participation and a new GRTC transfer station. “Things are moving in the right direction,” said Mayor Stoney, “While this is not a done deal, I’m optimistic our negotiations will continue to be productive.”
Before the terms of a Master Development Agreement can be structured, city officials and the city’s financial advisors must analyze the financing proposed for the project and will await results of a third-party review of the proposal by Hunden Strategic Partners. Further updates will be provided when they are available.
June 13, 2018 - The administration provides background information on the North of Broad/Downtown Redevelopment
May 9, 2018 - The NH District Corporation responds to the city's initial questions for clarification in response to the original proposal.
This document includes both the questions from the city and the manner in which NH District Corporation responds to those inquiries.
April 12, 2018 - The city administration issues a statement updating the public on the received proposal and detailing the path forward
From the Office of the Press Secretary, April 12, 2018:
Since receiving the Proposal on February 9, the City has engaged in an initial review in which City staff analyzed the voluminous materials contained in the Proposal and its appendices to determine whether they adequately address the City’s key objectives for the project. To ensure a comprehensive and thorough analysis, the review involved employees with relevant subject matter expertise in a wide range of areas including finance, economic development, community development, community wealth building, housing, historic preservation, operations, minority and emerging small business, planning, public safety, parking, transportation, and law.
As a result of the initial review, we determined that the Proposal warrants further consideration. The next step in the review process will afford the City the opportunity to engage the Respondent to request clarifications/pose questions regarding the contents of the Proposal. The Respondent will be provided with a request for clarifications and given an opportunity to present the requested information to the City.
This clarifications step is not the beginning of a negotiation process.The City will only enter into negotiations with Respondent if, following review of the information provided, the City determines moving forward is in its best interest.
We anticipate the clarifications process to be completed by the end of June. The City’s priority is to continue to conduct a thorough, methodical, and impartial review. Updates on the review process and any next steps will be provided as decisions are made.
February 9, 2018 - NH District Corp. Submits a Proposal in Response to the RFP
The NH District Corporation, in affiliation with the NH Foundation and Capital City Development, LLC, submits a response to the city's request for proposals.
In the introductory letter, the NH District Corporation notes: "We respectfully submit this proposal to seize Richmond's once-in-a-generation opportunity to create a new neighborhood where one was lost - and to begin healing past actions that divided the city."
That proposal is available here.
February 16, 2018 - Mayor Stoney provides a North of Broad project update
Mayor Stoney provides an update on North of Broad/Downtown Redevelopment request for proposals.
From the Office of the Press Secretary, February 16, 2017:
Update on North of Broad/Downtown Redevelopment Request for Proposals
On November 9, 2017, Mayor Stoney formally announced the issuance of a Request for Proposals (RFP) for the North of Broad/Downtown Neighborhood Redevelopment Project. Issuing the RFP was the first step in initiating an open competitive process for a transformative opportunity to spur redevelopment of a significant portion of real estate located in the neighborhood north of Broad Street in downtown Richmond.
Upon announcing the RFP, Mayor Stoney noted that “The goals of this RFP are bold, 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 mitigations 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.”
The RFP required respondents address a variety of components, including:
- Replacement of the Richmond Coliseum
- Mixed income and affordable housing
- Community revitalization
- Infrastructure improvements necessary to support new traffic patterns and increased pedestrian activity
- Poverty mitigation including local job creation, training, and hiring
- Minority and Emerging Small Business participation
- Replacement of the GRTC Transfer Station
- New Convention Center Hotel
- Historic Preservation and adaptive reuse of the Blues Armory
- Project financing that does not involve the moral or general obligation of the city
Mayor Stoney made it clear that the city will not entertain any proposal that requires the city to use its existing tax revenue or debt capacity. 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.
Last Friday, February 9, 2018, was the deadline for the city to receive submissions in response to the RFP. The city received one Proposal prior to the submission deadline and will now turn its focus towards the review process.
A review committee of city staff will conduct a rigorous initial review and assessment of the Proposal, which is expected to take approximately 30 days. In order to ensure that all facets are evaluated and the city’s interests are protected, the review will involve multiple city disciplines including finance, economic and community development, operations, minority and emerging small business, planning, and transportation.
If the results of the initial review warrant moving forward, preliminary discussions will be undertaken over approximately 45 to 60 days following completion of the review. Contract negotiations, if warranted, would follow so that any project agreements and related ordinances could be finalized and presented to City Council for consideration later this year.
“The North of Broad area presents a tremendous opportunity for transformational change, and as I stated from the onset, we set a high bar for respondents because that’s what we have to do to achieve true neighborhood revitalization,” Mayor Stoney said.
“I expect a thorough and meticulous review process, and we will only move forward if the Proposal is in the best interests of the city and does not negatively impact the city’s finances and debt capacity. If the Proposal does not live up to the goals set forth in the RFP, then we will have to explore other alternatives.”
November 9, 2017 - The Mayor announces that the city has issued an RPF for downtown redevelopment
Mayor Levar M. Stoney formally announced today 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.”