title
To declare surplus and direct the conveyance of the City-owned real estate known as 500 North 10th Street, consisting of 3.010± acres, for nominal consideration to the Economic Development Authority of the City of Richmond for the purpose of facilitating the redevelopment of such parcel as part of a transit-oriented, mixed-use project known as “City Center.”
body
WHEREAS, by Resolution No. 2020-R034, adopted June 22, 2020, the Council declared surplus and authorized the Chief Administrative Officer to seek proposals for the City-owned real estate known as 500 North 10th Street, with Tax Parcel No. E000-0235/001 in the 2025 records of the City Assessor, for the purpose of facilitating the sale and development of such parcel; and
WHEREAS, by Ordinance No. 2021-025, adopted on February 22, 2021, the Council directed the sale of such parcel to Capital City Partners, LLC for the purpose of facilitating the redevelopment thereof; and
WHEREAS, the City conveyed such parcel to Capital City Partners, LLC’s affiliate, Project 10th Street Owner LLC, on July 15, 2021; and
WHEREAS, Project 10th Street Owner LLC failed to timely satisfy the development requirements imposed by the City as to such parcel; and
WHEREAS, Project 10th Street Owner LLC reconveyed such parcel back to the City on February 3, 2023; and
WHEREAS, in light of such reconveyance to the City, for the avoidance of doubt, the Council affirms that the said parcel is no longer necessary for public use and desires to, once again, declare such parcel as surplus real estate;
NOW, THEREFORE,
THE CITY OF RICHMOND HEREBY ORDAINS:
§ 1. That the City-owned real estate known as 500 North 10th Street, consisting of approximately 3.010 acres and identified as Tax Parcel No. E000-0235/001 in the 2025 records of the City Assessor, is hereby declared surplus real estate and directed to be conveyed to the Economic Development Authority of the City of Richmond for nominal consideration for the purpose of facilitating the redevelopment of such parcel as part of a transit-oriented, mixed-use project known as “City Center.”
§ 2. That, pursuant to section 8-65(b) of the Code of the City of Richmond (2020), as amended, the Chief Administrative Officer is hereby directed to execute, on behalf of the City, the deeds and such other documents, all of which must first be approved as to form by the City Attorney, as may be necessary to consummate the conveyance of the real estate authorized by section 1 of this ordinance.
§ 3. This ordinance shall be in force and effect upon adoption.
City of Richmond
Intracity Correspondence
O&R Transmittal
DATE: September 30, 2025
TO: The Honorable Members of City Council
THROUGH: The Honorable Dr. Danny Avula, Mayor
THROUGH: Odie Donald II, Chief Administrative Officer
THROUGH: Sharon Ebert, Deputy Chief Administrative Officer
FROM: Angie Rodgers, Director, Department of Economic Development
RE: Conveyance of 500 N. 10th Street (Public Safety Building) to the EDA
ORD. OR RES. No.
PURPOSE: Conveyance Ordinance: Ordinance to direct the conveyance of the city-owned real estate commonly known as the former Public Safety Building and located at 500 N. 10th Street for nominal consideration to the Economic Development Authority of the City of Richmond for the purpose of advancing the redevelopment of 500 North 10th Street as part of a thriving, transit-oriented mixed-use City Center.
BACKGROUND: The City Center Plan adopted by City Council in 2022 provides a framework for the redevelopment of the City Center area to catalyze the development of a thriving, mixed-use downtown. The City owns multiple parcels of underutilized real estate located within City Center, including the approximately 3.01 acre parcel located at 500 N. 10th Street and referred to in the records of the City Assessor as Parcel No. E00000235001 (the “PSB Parcel”). Pursuant to Ordinance No. 2024-320, the City and the Greater Richmond Transit Company (“GRTC”) entered into that certain non-binding GTRC Downtown Transfer Hub Site Memorandum of Understanding dated June 24, 2025 (the “City/GRTC MOU”) contemplating advancing the construction of dense mixed-use transit-oriented development and a permanent bus transfer hub within City Center. Section III of the City/GRTC MOU asserts the City’s its intent to transfer the PSB Parcel to the EDA to enable advancement of redevelopment thereof in accordance with the goals set forth in the MOU and the City Center Plan.
This ordinance will authorize the City’s conveyance of the PSB Parcel to the EDA. Collectively, this ordinance and a companion ordinance authorizing a cooperation agreement between the City and the EDA will effectuate the City’s intent set forth in the MOU to convey the parcel to the EDA for the purpose of advancing the redevelopment of the property in coordination with GRTC.
STRATEGIC INITATIVES AND OTHER GOVERNMENTAL: City Center Plan; City/GRTC MOU
FISCAL IMPACT: There will be nominal costs associated with recording land records.
DESIRED EFFECTIVE DATE: Upon Adoption.
REQUESTED INTRODUCTION DATE: December 8, 2025
CITY COUNCIL PUBLIC HEARING DATE: January 12, 2026
REQUESTED AGENDA: Consent
RECOMMENDED COUNCIL COMMITTEE:
-Conveyance Ordinance - Planning Commission
AFFECTED AGENCIES: Department of Economic Development, Department of General Services
RELATIONSHIP TO EXISTING ORD. OR RES.: Ordinance No. 2024-320
ATTACHMENTS: PSB Cooperation Agreement; GTRC Downtown Transfer Hub Site Memorandum of Understanding
STAFF: Matt Welch, Department of Economic Development
DJ Mulkey, Department of Economic Development