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To designate the property known as 4611 Walmsley Boulevard as a revitalization area pursuant to Va. Code § 36-55.30:2.
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WHEREAS, pursuant to section 36-55.30:2 of the Virginia Housing Development Authority Act (the “Act”), as set forth in sections 36-55.24 through 36-55.52 of the Code of Virginia (1950), as amended, the governing bodies of localities may by resolution designate an area within such locality as a revitalization area for the purpose of facilitating financing by the Virginia Housing Development Authority to assist private entities with the development of mixed use and mixed income projects; and
WHEREAS, pursuant to the Act, in order to designate an area as a revitalization area, the local governing body must determine that, with respect to such area, (i) the industrial, commercial or other economic development of such area will benefit the city but such area lacks the housing needed to induce manufacturing, industrial, commercial, governmental, educational, entertainment, community development, healthcare or nonprofit enterprises or undertakings to locate or remain in such area, and (ii) private enterprise and investment are not reasonably expected, without assistance, to produce the construction or rehabilitation of decent, safe and sanitary housing and supporting facilities that will meet the needs of low- and moderate-income persons and families in such area and will induce other persons and families to live within such area and thereby create a desirable economic mix of residents in such area; and
WHEREAS, the Council believes that the property known as 4611 Walmsley Boulevard, identified as Tax Parcel No. C008-0829/098 in the 2026 records of the City Assessor, being more particularly shown on the survey entitled “Boundary Line Adjustment Plat for Parcels C0080829098, C0080829082 & C0080829090, City of Richmond, VA,” prepared by James West, dated November 24, 2025, and the plans entitled “Walmsley Multifamily, 4611 Walmsley Blvd, Richmond, VA 23234,” prepared by vhb, and dated June 10, 2025, copies of which are attached to and made a part of this resolution, is an area (i) for which the industrial, commercial or other economic development of such area will benefit the city but such area lacks the housing needed to induce manufacturing, industrial, commercial, governmental, educational, entertainment, community development, healthcare or nonprofit enterprises or undertakings to locate or remain in such area, and (ii) in which private enterprise and investment are not reasonably expected, without assistance, to produce the construction or rehabilitation of decent, safe and sanitary housing and supporting facilities that will meet the needs of low and moderate income persons and families in such area and will induce other persons and families to live within such area and thereby create a desirable economic mix of residents in such area; and
WHEREAS, the Council believes that it is in the best interests of the citizens of the City of Richmond that the Council designate the aforementioned property as a revitalization area pursuant to section 36-55:30:2 of the Code of Virginia (1950), as amended;
NOW, THEREFORE,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF RICHMOND:
That the Council hereby designates the property known as 4611 Walmsley Boulevard, identified as Tax Parcel No. C008-0829/098 in the 2026 records of the City Assessor and as shown on the survey entitled “Boundary Line Adjustment Plat for Parcels C0080829098, C0080829082 & C0080829090,” prepared by James West, dated November 24, 2025, and the plans entitled “Walmsley Multifamily, 4611 Walmsley Blvd, Richmond, VA 23234,” prepared by vhb, and dated May 29, 2025, copies of which are attached to this resolution, as a revitalization area pursuant to section 36-55.30:2 of the Code of Virginia (1950), as amended.
BE IT FURTHER RESOLVED:
That the Council hereby determines that the industrial, commercial, or other economic development of the area consisting of the aforementioned property will benefit the city, but that such area lacks the housing needed to induce manufacturing, industrial, commercial, governmental, educational, entertainment, community development, healthcare or nonprofit enterprises or undertakings to locate or remain in such area.
BE IT FURTHER RESOLVED:
That the Council hereby determines that the aforementioned property consists of an area in which private enterprise and investment are not reasonably expected, without assistance, to produce the construction or rehabilitation of decent, safe, and sanitary housing and supporting facilities that will meet the needs of low- and moderate-income persons and families in such area will induce other persons and families to live within such area and thereby create a desirable economic mix of residents in such area.
DATE: December 12, 2025
TO: The Honorable Members of City Council
THROUGH: The Honorable Dr. Danny Avula, Mayor
THROUGH: Odie Donald, II, Chief Administrative Officer
THROUGH: Sharon L. Ebert, Deputy Chief Administrative Officer, Economic Development and Planning
FROM: Merrick Malone, Director of Housing and Community Development
RE: Designating the 6.199-acre site at 4611 Walmsley Boulevard as a Revitalization Area pursuant to Virginia Code §36-55.30:2.A to secure VHDA (Virginia Housing) financing for the 219 multifamily development serving low-income individuals and families.
ORD. OR RES. No.
PURPOSE: To request a resolution from the City Council designating the 6.199-acre site at 4611 Walmsley Boulevard as a Revitalization Area pursuant to Virginia Code §36-55.30:2.A to secure VHDA (Virginia Housing) financing for the development of a 219 multifamily development serving residents at 60% of the area median income (AMI).
BACKGROUND: The proposed development at 4611 Walmsley Boulevard is the first phase of the Noon Cottrell development. The development will be constructed in accordance with the conditions and requirements outlined in the Special Use Permit (SUP). City Council approved the SUP on November 10, 2025.
The development will provide 219 units (115 one-bedroom, 89 two-bedroom, and 15 three-bedroom), all of which are restricted to persons earning 60% of the area median income. The site includes a four-story building with off-street parking. The multifamily development will be constructed to meet the EarthCraft Gold Standards with stainless appliances, stone countertops, an in-unit washer and dryer, a swimming pool, and a fitness center.
The development will include an on-site leasing office and staff that will work with service providers.
Lynx Ventures is an experienced developer that currently has NOON Hioaks II (151 units) and New Manchester Flat VI (127 units) under construction. Oak Grove Apartments is their most recent project with 243 units.
The estimated project cost is $ 64 million and will be financed through tax credit investments, VHDA financing, and deferred developer fees. Gates Hudson is anticipated to be the property management company. This will be a 30-year affordable housing development, with all units set aside for renters earning 60% of the area median income (AMI). The development will provide the following unit mix:
Ø 115 one-bedroom units
Ø 89 two-bedroom units
Ø 15 three-bedroom units
COMMUNITY ENGAGEMENT: The development is subject to a recently approved Special Use Permit. The SUP process required sending a letter of notification to nearby property owners and placing a sign noting the SUP request on the property. In addition, the developer has presented at 3 district meetings and has held three project-specific community meetings with adjoining neighbors.
STRATEGIC INITIATIVES AND OTHER GOVERNMENTAL: None
FISCAL IMPACT: None
DESIRED EFFECTIVE DATE: Upon adoption
REQUESTED INTRODUCTION DATE: January 26, 2026
CITY COUNCIL PUBLIC HEARING DATE: February 9, 2026
REQUESTED AGENDA: Consent
RECOMMENDED COUNCIL COMMITTEE: Land Use, Housing and Transportation
AFFECTED AGENCIES: Housing and Community Development, and Planning and Development
RELATIONSHIP TO EXISTING ORD. OR RES: Ordinance #2025-235 Special Use Permit allowing the development subject to specific terms and conditions
ATTACHMENTS: Draft Resolution, Survey, Map, Rendering, Plans
STAFF: Michelle B. Peters, Deputy Director, HCD 646-3975