RICHMOND, Va. (WWBT) - History is being made at Virginia Union University after the school purchased the property formerly owned by The Budget Inn.
The property, located on the corner of Brook and Lombardy Roads, was purchased for an undisclosed amount on Thursday, Dec. 5.
“For the first time in four decades, we are expanding beyond our current gates. It is a historic decision as we plan toward our future and identify ways to provide resources to strengthen redevelopment in the Northside Richmond community,” said Dr. Hakim J. Lucas, President & CEO of Virginia Union University.
VUU plans to revitalize the property with new a building that will include a multi-purpose space to focus on learning and community development.
“The purchase of The Budget Inn is significant because it endorses the financial strength of the University,” said Gregory Lewis, Sr. Vice President & CFO. “We were able to purchase the property without incurring debt, using our available resources. We are very humbled to be able to purchase this property with plans to improve the community.”
VUU will accept the keys to the property at 1 p.m. on Tuesday, Dec. 17 in the Claude G. Perkins Living and Learning Center, Virginia Union University, 1500 N. Lombardy Street, Richmond Virginia 23220.
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