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City council likely to vote down Navy Hill project

CoStar strikes a deal with Navy Hill developers
Posted at 10:35 PM, Feb 09, 2020
and last updated 2020-02-09 22:39:23-05

RIHCMOND, Va. -- City council members are expected to vote down the $1.5 billion Navy Hill project planned to revamp the Richmond Coliseum and surrounding area.

Five of the nine councilmembers voted against the project during a committee meeting last Tuesday, which sets up Monday evening’s vote.

Mayor Levar Stoney has sold Navy Hill project as an economic driver and job creator for the city.

On top of a brand-new coliseum, the plan calls for new retail spaces, affordable housing and space for VCU Health.

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The mayor said earlier in the week that he was not giving up on Navy Hill, but opponents said residents need more of a voice in the plan.

"There’s nothing wrong with the c-word, compromise,” Stoney said. “And that’s all we’re asking for in this process. For city council to come to the table, and let’s work on a compromise that will take Richmond to the next level, and also allow for opportunity to uplift people."

Councilwoman Kimberly Gray (2nd District) said council is not averse to development.

"We are not anti-development in this area,” Gray previously said. “We want development, but we want to have a very sound and very objective way of looking at what we’re signing on to.”

A non-profit development group led by Dominion Energy CEO Tom Farrell would pay for the bulk of the project, but the city would take out bonds to pay for its share.

Richmond City Council will meet Monday at 6 p.m. in council chambers