Documents reveal details of ill-fated VCU Health development deal

Rendering VCU Health System tower
Posted at 10:30 AM, Sep 25, 2023
and last updated 2023-09-25 10:30:46-04

RICHMOND, Va. -- Last week’s letter from Gov. Glenn Youngkin calling for changes to the governance of VCU Health, as well as to its relationship with Virginia Commonwealth University, is renewing scrutiny of the aborted downtown development that has cost the health system $80 million and counting in exit payments.

In the letter to General Assembly leadership, Youngkin states that the aborted redevelopment of the city’s old Public Safety Building site could end up costing VCU Health as much as $100 million and “should serve as a wake-up call to the significant flaws in the current governance of the University and (the health system), particularly related to the planning, approval, and implementation of sophisticated and costly capital projects.”

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