In November 2017, City of Richmond Mayor Levar Stoney released a detailed 35-page “Request for Proposals,” or RFP, calling on capable parties from anywhere to bring their ideas forth to redevelop a 10-block parcel of City-owned land in downtown Richmond. Among its many parameters, central to the RFP was the requirement that the City would not be on the hook for paying the bill.

NH Foundation Board of Directors, a diverse group of area philanthropists and business leaders who formed the NH District Corp. (NHDC), gathered input from thousands of passionate Richmonders and submitted a proposal to the Mayor in February 2018. The Mayor's staff and City Hall's finance and real estate consultants asked detailed questions of NHDC to further understand how the plan would be executed and to ensure it met every requirement established in the RFP.

In June 2018, the City entered into formal negotiations with NHDC. In November 2018, Mayor Stoney selected the NHDC proposal. The development plan now requires review and approval from City Council.

Untitled design.png

Read the Navy Hill documents.

Head over to the City of Richmond’s website to see the proposal and review regularly updated information on the Navy Hill development.

Visit the site.

Navy Hill is the revitalization of an entire neighborhood where one was lost, creating jobs and opportunity, affordable homes, and new tax revenue for the City. Here’s what the project will do:

Create new tax revenue for schools, public safety, and core City services (streets, utilities, etc).

  • Currently, there is nowhere to live, eat or shop in the neighborhood—meaning the downtown land generates almost no tax revenue to fund City services.

  • Once developed, there will be apartments, restaurants, stores, a hotel and commercial office spaces creating new tax revenue.

Create jobs.

  • This is the largest job creation project in Richmond history—both during construction (12,500 jobs) and once construction is complete (9,300 jobs).

Create affordable housing—the largest private commitment in Richmond history.

  • The neighborhood will be inclusive, with room for everyone. It will provide 480 units of affordable housing with the pathway to hundreds more—accessible for teachers, public safety workers and other local residents.

  • This is the largest commitment to affordable housing in recent years.

Create opportunities for minority business and job participation.

  • The project will invest more than $300 million with minority-owned businesses. This is the largest minority business commitment in Richmond history.

Job fairs will be held across the City, and the development team will work closely with contractors and the City’s Office of Community Wealth Building to offer job training.

Taxpayers are never on the hook.

  • Most of Navy Hill is funded by private investors, who will purchase the City-owned land to build new privately financed apartments, offices, the hotel, and restaurant and retail spaces.

  • The Arena and Armory are owned by Richmond taxpayers today—and will be in the future.

  • Arena construction will be funded by bond buyers.

  • These bonds will be backed by new tax revenue generated in a designated increment financing area.

  • No new taxes are being levied.

  • There is no “moral obligation” or “general obligation” of the City.

Richmond taxpayers will never be "on the hook" for development costs. The risk lies with the bond investors—not the City or the taxpayers. Private investors will pay for the private development.


Dive into the numbers.

Read the fiscal impact report of Navy Hill from the city’s financial advisors, Davenport & Co.

We continue to engage the community.

The Mayor is advancing a proposal to City Council that reflects 13 months of negotiations plus the input of thousands of citizens from across every City district who have attended workshops, participated in surveys and research, or met in person with NHDC team members.

  • These citizens have shared insights on everything from affordable housing and job training to minority participation and transit. This proposal would not be possible without their input.


NH Foundation Board of Directors

Thomas F. Farrell, II
Chairman, President and Chief Executive Officer, Dominion Energy

Tom Farrell is the presiding director of Altria Group Inc. and a member of the board of directors of AEGIS insurance company. Farrell also serves on the board of directors of the Edison Electric Institute and the Institute of Nuclear Power Operations. He is on the board of trustees of the Virginia Museum of Fine Arts and chairman of the Richmond Performing Arts Center. He is the past chairman of the Colonial Williamsburg Foundation and the board of trustees of the Virginia Business Council. He is a former member of the board of visitors at Virginia Commonwealth University and at the University of Virginia, where he served as rector. His is a former chairman of the Virginia Governor’s Commission on Higher Education and the State Council of Higher Education for Virginia.

Melody Barnes
Co-Founder and Principal, MB2 Solutions

Melody Barnes serves as an Independent Director on the Boards of Ventas, Inc. (NYSE:VTR); Booz Allen Hamilton Holding Corporation (NYSE:BHA); Public Policy Advisory Board, Uber; the Marguerite Casey Foundation and Year Up. Ms. Barnes also chairs the Aspen Institute Forum for Community Solutions and Opportunity Youth Incentive Fund. She previously served as Assistant to the President of the United States and as Director of the Domestic Policy Council., where she provided strategic advice to President Obama. She worked as Executive Vice President at the Center for American Progress, a progressive research institute and think tank. She worked for Senator Edward M. Kennedy and the Senate Judiciary Committee. Her media appearances include This Week with George StephanopoulosThe Daily Show with Jon Stewart, Charlie Rose, The PBS NewsHour and Morning Joe.

Martin J. Barrington
Former President, Altria Group Inc.

Marty Barrington is President of the Navy Hill District Corporation. Marty also is Chairman of the Board of Directors of Anheuser-Busch InBev; the retired Chairman, Chief Executive Officer and President of Altria Group; and a former partner of the law firm Hunton Andrews Kurth. Marty has served and continues to serve the Richmond and Virginia communities in several capacities. These include serving on the boards of the Virginia Museum of Fine Arts; NextUp RVA (founding chairman); the Virginia Port Authority; and the Richmond Performing Arts Corporation.

William H. Goodwin, Jr.
Retired Chairman and President, CCA Industries, Inc.

William H. “Bill” Goodwin, Jr. is the retired Chairman of CCA Industries, Inc., a diversified holding company with various business and real estate interests in the Richmond area including The Jefferson Hotel.

Monroe E. Harris, Jr. D.M.D.
Oral & Maxillofacial Surgeon, Virginia Oral & Facial Surgery

Dr. Harris is a board-certified oral and maxillofacial surgeon. He frequently provides volunteer care and free oral surgery to patients in Richmond at the Crossover Clinic, the Fan Free Clinic, Donated Dental Services of Virginia and Missions of Mercy. His professional service includes being the past president of the Old Dominion Dental Society and the Virginia Board of Dentistry. He is also an examiner for the Southern Regional Testing Agency. He typically coordinates the Armstrong High school Young Men of Distinction Mentoring Program. Additionally, he is the Vice President of the Board of the Virginia Museum of Fine Arts and is the President of the Board of the Virginia Repertory Theatre. He is also a board member of the Black History Museum and Cultural Center of Virginia and the American Civil War Museum. He has been named “Top Doctor” for Oral and Maxillofacial Surgery in Virginia Living magazine three years in a row, and he was named one of the Richmond Times-Dispatch’s People of the Year in 2018. Aside from oral and maxillofacial surgery, Dr. Harris is passionate about sports, music, education and the arts. He has a vast collection of African and African American art which can be seen around his office.

C.T. Hill
Retired Chairman, Mid-Atlantic Banking Operations and Consumer Banking Executive, SunTrust Bank

C.T. Hill retired from SunTrust Bank as both chairman for the Mid-Atlantic banking operations and consumer banking executive. His 42-year career with SunTrust and its predecessors also included serving as chairman, president, and CEO of the Mid-Atlantic banking group, as well as head of the company's retail line of business. Hill has served on boards of Virginia Tech, the Massey Cancer Center, the Richmond Performing Arts Center, and the Metropolitan Business League Foundation. He is a member of the Management Roundtable and a past chair of Venture Richmond, the Virginia Bankers Association, the Forum Club, and the Virginia Foundation of Independent Colleges, and Virginia's Department of Game and Inland Fisheries. Hill attended Virginia Tech and the University of Richmond, and later graduated from the Stonier Graduate School of Banking at Rutgers and the National School of Real Estate at Ohio State. He also completed the Executive Program at the University's Darden School of Business.

Pamela J. Royal, M.D.
President, Royal Dermatology

Dr. Royal is a board-certified dermatologist and has been the owner and President of Royal Dermatology and Aesthetic Skin Care, Inc. since 1990. She received her M.D. from Eastern Virginia Medical School of the Medical College of Hampton Roads and served her residency at Howard University Hospital in dermatology.

Dr. Royal serves on the boards of Bon Secours Richmond Health System and St. Christopher’s School, and she is a member of the Executive Committee of Venture Richmond. She is Chair of the Community Foundation for a Greater Richmond. Dr. Royal is a member of the Local Advisory Board of BB&T, the Board of Directors of Dominion Energy and the Board of Trustees of Virginia Museum of Fine Arts. She is a previous chairman of the United Way of Greater Richmond & Petersburg and The Valentine Museum. Dr. Royal was the recipient of the YWCA’s Outstanding Women Award in Volunteerism in 2010.