The project’s expanded tax increment financing area includes multiple properties owned by Thalhimer Realty Partners, the local firm that’s helping lead the $2.4 billion mixed-use development.
Richmond’s proposed budget is up for potential adoption, Henrico adopts its budget plan, and townhomes and apartments are proposed in the county.
The payment was quietly made to Project 10th Street Owner LLC, tied to Oak Street Real Estate Capital, which was handling financing for the project for developer Capital City Partners.
The review comes two years after the city opened the door to using eminent domain to secure privately owned land for its planned Shockoe Bottom Heritage Campus.
The 55 lots in the Southside neighborhood were awarded for housing development in 2019, but have yet to be transferred. Dozens more remain in the queue.
The expansion would extend historic tax credit eligibility to several industrial properties along Hermitage Road to the south and east of the Diamond District.
Items tied to the Diamond District make the rounds in City Hall, a slavery museum location study could lead to property acquisition, and a dozen candidates vie for two seats on the Hanover School Board. (BizSense Pro subscription required)
“There are some responsible vape shops that are operating in the county and of course they should be able to continue to do so. This will put guardrails on any new shops coming into the county,” Supervisor Jim Ingle said of the new rules.
Initial tenants are Chesterfield County Public Schools and the county’s economic development department, which together are expected to occupy about half of the project’s first office building.
“I have yet to see where a parking requirement has actually solved the issues and concerns about parking,” Andreas Addison said before Monday’s vote. “We can require developers to build parking, but we cannot require people to park there.”
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