The New Navy Hill
This is more than just another real estate project. It’s a progressive, thoughtful, inclusive way to bring back Navy Hill—the historic 10-block neighborhood that runs from 5th to 10th Streets and Marshall to Leigh.
Richmond is on the move, and this project is one more example of how. We’re creating an inclusive community where people can live, work or play. For Richmonders, this project will create new apartments and homes where our citizens – like teachers, nurses and firefighters – can afford to live. Navy Hill will also feature easy access to public transit and a new state-of-the-art arena. Navy Hill can once again be a vibrant, bustling city center and an example of what RVA can achieve, when we put our minds to it
Here’s what you’ll find in the new Navy Hill.
We’ll create 2,500 new housing units - plus more than 680 affordable units within the neighborhood and in the city. That’s the largest private commitment to affordable housing in Richmond’s history. Navy Hill will be rich in economic and cultural diversity.
We’ll replace the dilapidated Coliseum with a 17,500-seat facility that will quickly become the center of Virginia’s sports and entertainment universe—attracting sought-after concerts and sporting events that currently have no place to go in Richmond. Ours would be the largest arena in Virginia.
RETAIL AND RESTAURANTS
The new Navy Hill will be home to stores, boutiques, restaurants and cafés – including a 20,000-square-foot fresh food market on the ground floor of the reinvented Blues Armory.
HOtel and Conference center
A new conference and tourism hotel will be the largest in the Richmond region and will attract larger events to the Greater Richmond Convention Center—creating hundreds of attractive new jobs and bringing more money to Richmond.
What it means to you.
This project will create thousands of jobs and job-training opportunities—covering a wide range of skill sets including construction, hospitality, food service, professional services and more. In addition to these new job prospects, the initiative will also provide the largest opportunity for minority participation the city has ever seen - more than $300 million in minority contracts.
As a Richmond taxpayer, you pay plenty to own and maintain the Coliseum, the Blues Armory, and the surrounding area, but they don’t generate any real estate tax revenue. Under this plan, new revenues generated in the neighborhood will help pay for the new arena and reinvented and preserved Blues Armory, plus create additional revenue to improve schools, roads, public transit, police, fire and other essential services.
A PLACE OF PRIDE
This is a once-in-a-generation opportunity to build a vibrant, thriving, diverse neighborhood in Navy Hill – creating a new crossroads for the culture, commerce and cuisine that define our great city.
By the Numbers
The City, Companies, and Nonprofits Working Together for Affordable Housing
In addition to the 2,500 market-rate homes in the Navy Hill neighborhood, the project includes 680 affordable housing units, representing the largest public-private commitment to affordable housing in the city’s history. Learn more about the affordable housing component of the project.