City Council unanimously approves sale of the Public Safety Building

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$325 million redevelopment project moves forward 

Richmond City Council approved three Ordinances introduced by the Stoney Administration for the sale and redevelopment of the site of the of the existing Public Safety Building.  The city is selling the 3-acre property to Capital City Partners, LLC for $3,520,456 who will then redevelop the site into a $325 million mixed-use project anchored by VCU Health System, The Doorways, and Ronald McDonald House Charities. The negotiated sales price takes into account the developer’s responsibility to demolish the existing building and build public infrastructure that includes reconstructing Clay Street between 9th and 10th Streets.

“The sale and redevelopment of the Public Safety Building site is a critical first step to improving downtown,” said Mayor Levar Stoney.  “My Administration was glad to work with City Council and Capital City Partners, LLC to create this great win for Richmond.  The project will aid minority businesses, create child care slots for Richmond families, fund scholarships for graduates of Richmond Public Schools, and generate nearly $56 million in new revenue for the city’s General Fund over the first 25 years. We can, and we will, continue to grow Richmond by redeveloping underutilized city-owned property.”

 

“For many years the city has needed to find a better use for the Public Safety Building site.  I am glad that City Council has approved this important project that moves the city forward in redeveloping our Downtown, benefits our community, and strengthens healthcare in the city and region,” said Councilmember Ellen Robertson.

 

“We want to thank Mayor Stoney and Richmond City Council for supporting the sale of this property and allowing this important development to go forward.  Too often real estate transactions are thought of only in terms of investment and economics, but not in the lives they improve.  This project will help improve the lives of thousands of families in crises and will further Richmond’s reputation as an important healthcare capital,” said Capital City Partners’ Susan Eastridge and Michael Hallmark.

 

“VCU and VCU Health are strongly committed to the redevelopment of this area.  The Public Safety Building Project, along with the current construction of our new children’s inpatient hospital and Adult Outpatient Pavilion, will play a critical role in supporting a thriving urban center,” said Michael Rao, president of VCU and VCU Health System.

 

“We are pleased that the City has chosen to move forward with the sale of the Public Safety Building to Capital City Partners, LLC.  This announcement marks the beginning of a long-awaited initiative to breathe fresh life into this section of the city, while providing a much needed new home for The Doorways to lodge the thousands of families who depend on our services to access their medical care.  This announcement is truly a win-win for the Doorways and the entire Richmond community,” said Stacy Brinkley, President and CEO of The Doorways.

 

“As specialty pediatric care grows in the Richmond region, so does the need to support the whole family.  A new, fully-accessible Ronald McDonald House provides more capacity to help families whose sick and injured children are receiving care at all pediatric hospitals throughout the Richmond region as well as families whose children are the most vulnerable and medically complex being cared for at Children’s Hospital of Richmond at VCU.  This project is a game changer for pediatric healthcare,” said Kerry Blumberg, executive director of Ronald McDonald House Charities of Richmond.

 

More details about the redevelopment of the Public Safety Building can be found at https://www.rva.gov//PublicSafetyBuilding.

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