RICHMOND, Va. (AP) - A major redevelopment initiative that would have replaced a shuttered arena in Virginia’s capital city with a new venue as well as high rises, housing, commercial and retail space was struck down Monday night.
A majority of the Richmond City Council voted against the $1.5 billion redevelopment proposal that Mayor Levar Stoney had been championing for three years, the Richmond Times-Dispatch reported. The project centered around replacing the closed Richmond Coliseum and revitalizing the downtown space.
Supporters said the project, known as the Navy Hill deal, would spur downtown growth, create jobs and provide needed new housing. They cautioned that if the plan was rejected, it could negatively affect future investment in the area, the newspaper said. Opponents countered that the project would risk school funding, raise housing costs and contribute to displacement.
City Council members who opposed the project said in a joint statement that they would work with Stoney’s office to take a new approach to the redevelopment process that would call for greater public input, among other changes. The Council has said Stoney can issue a fresh solicitation for redevelopment following the new process.
Stoney said in a statement late Monday that he was disappointed in the decision, and has called the new approach outlined by the Council “laughable,” according to the Times-Dispatch. The development group behind the project said it had been working on amending its plan based on suggestions, but the council “voted to end it before learning more.”
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