Richmond seeks developers for bus station, mixed-use project

Richmond is seeking a development team to transform the former Public Safety Building site into a mixed-use complex built around a new downtown bus transfer hub.

The Greater Richmond Transit Company (GRTC) and the Richmond Economic Development Authority issued a request Thursday seeking interested developers for the public-private venture.

The selected site is also within the City Center Innovation District, a downtown area city officials have targeted for redevelopment. The project is expected to include a 10-bay bus terminal and has the capacity to support more than 500 residential units, 30,000 square feet of amenity space and 28,000 square feet of ground-floor retail space, according to an analysis the city provided in its request to developers.

Bordered by Ninth and Leigh streets, the 3-acre site at 500 N. 10th St. is a convergence point for GRTC’s East-West routes and the transit system’s planned North-South Pulse Bus Rapid Transit (BRT) routes. Currently, GRTC operates a temporary transfer station off 9th Street, a short walk from the proposed site.

“This location offers unmatched multimodal connections, with convenient transfers via public transit to intercity passenger rail and coach bus connections at the nearby Main Street Station as well as access to the broader region via Interstate 95,” the city’s request states.

“By strengthening our transit network and activating a critical downtown site with new housing, retail and public space, we are setting the stage for a more connected, innovative, and people-centered Richmond,” Mayor Danny Avula said in a news release.

The cost of the downtown transfer hub portion of the project, which will be funded by public sources, is estimated to be $47.3 million, according to the city. So far, the project has received a $6.5 million grant from the Central Virginia Transportation Authority and a $3 million grant from the Virginia Department of Rail and Public Transportation.

“Additional financial tools will be available to support the mixed-use development,” a city press release states.

Responses from developers are due Jan. 30. The project site is currently owned by the city, but ownership is being transferred to the EDA.

The lot where the city’s Public Safety Building previously stood has received considerable attention over the years. VCU Health announced plans in 2021 to build a $325 million medical office tower and multiuse project there. News broke in 2023, however, that VCU Health had backed out of the plan after learning it would cost more to build there than initially anticipated.

The city demolished the Public Safety Building, which was built in 1954, last year.