RICHMOND, Va. (AP/WWBT) — Richmond city officials are set to hold the first in a series of town halls to discuss a major downtown redevelopment initiative.
Mayor Levar Stoney and other officials will be available for questions about the Navy Hill proposal, which includes plans for a high-rise hotel, apartments, commercial space and new arena that would be the largest in the state. The meeting will be held from 6 to 7:30 p.m. Thursday at Carver Elementary School.
Stoney's administration has spent months negotiating the proposal with a private development group, NH District Corp., led by Dominion Energy CEO Thomas Farrell.
“They say that great things take time,” Stoney said earlier this year. “…This project is not only the largest economic development project in the city’s history, but also the largest economic empowerment project in our city’s history.”
Stoney’s administration says the project has the potential to reshape Richmond for generations to come. But critics have questioned those big promises, as well as the project’s financing arrangement, which depends on a tax increment financing zone.
The Navy Hill Advisory Commission is also holding a series of sessions that allow the public to comment on the project.