Developers attempting to salvage portion of Navy Hill project make push for $350 million office tower downtown

The Navy once-struck Navy Hill project – or at least a portion of it – might be coming back from the dead under a new proposal to build a 20-story office building downtown that would be home to a number of businesses and nonprofits.

From Richmond BizSense:

Three months after Richmond City Council said “no” to the controversial Navy Hill project, the developers behind it are looking to revive a portion of the proposal with a mixed-use development that now calls for a taller VCU Health-anchored tower.

Capital City Partners, the development team that was enlisted for Navy Hill, has submitted an offer to the City of Richmond to buy the Public Safety Building property at 500 N. 10th St. and redevelop the site as a privately owned mixed-use office complex, highlighted with a 20-story tower that would exceed the height of the 17-story VCU Health outpatient building under construction across the street.

The $350 million project, totaling 545,000 square feet, is a variation of what was known as “Block D” in the Navy Hill project, but with the taller tower that would accommodate an additional 150,000 square feet of Class A office space. A tenant for that space isn’t named in the proposal, which describes the space as spec and “designed to attract new business to downtown Richmond.”

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