RICHMOND, Va. — The next step in the evolution of Stony Point Fashion Park looks to involve a land deal with the city’s Economic Development Authority.
Starwood Capital Group, the firm that owns the 16-year-old South Richmond retail center at 9200 Stony Point Parkway, is purchasing a roughly 3-acre section of the surrounding parking lot for an expansion of the mall.
The EDA owns the lot and Starwood has the rights to buy it based on terms of a deal made between the city and the original developer of Stony Point, Taubman Centers, in the early 2000s. Starwood bought the mall from Taubman for $72 million in 2014.
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