Virginia Student Power Network
History of Navy Hill
The Navy Hill RVA development project gets its name from the Navy Hill neighborhood, which had become a thriving Black community by the early 1900s. Navy Hill's history as a hub of Black resistance and survival is one that is oftentimes overlooked. Navy Hill school boasted high academic achievement and despite discriminatory funding, graduated some well-known students such as banker, entrepreneur and civil rights leader Maggie L. Walker. It was also the first school to employ Black teachers. Legally, civil rights lawyers such as Oliver Hill and Spotswood Robinson (known for their contributions to the Brown vs. Board of Education case) were based out of Navy Hill.
Despite this rich history, Navy Hill, along with other surrounding majority Black communities were practically wiped off the city map with the construction of Interstates 95 and 64, and again in the 1970s with the construction of the Convention Center. As a result of this construction, many families were displaced from their original, ancestral communities and concentrated into public housing communities that are now in danger of being demolished for the construction of a new Coliseum.
OVERVIEW OF NAVY HILL DEAL
What is the Navy Hill RVA Development Deal?
WHAT IS IT?
Anticipated $1.5B deal to redevelop the Coliseum arena and surrounding retail + residential areas spanning 5 years, with impacts for up to the next 30 years.
The deal will be funded through a mix of traditional construction loans ($500m), institutional credit-backed financing ($325m) + an equity contribution ($300m+)
Phase 2 will be funded through tax increment (TIF) financing
PHASE ONE
The Coliseum arena is redeveloped
The Blues Armory is redeveloped
Research + office space is introduced
Residential units are built on top of retail spaces
PHASE TWO
Expansion of retail + residential for rent and for sale
Courthouse will remain in operation until a new plan for its future is developed
GRTC Bus Transfer Center and “Educational-Related Facilities” are developed
Who Benefits?
Who benefits from this Navy Hill RVA development deal? Let's explore the different players that are at the table.
Our concerns
"These policies don’t exist independent of the power dynamics that are putting them forward”
- Kristin Reed, Richmond for All member
Public Education
This deal has been touted as one that will bring millions of dollars in schools. TIF districts re-direct revenues and tax revenues out of the City’s general fund and into paying back the loans for the development. The Local Composite Index (LCI), which is the formula the state uses to calculate funding for public schools can be impacted by TIF funding. TIF districts complicate LCI because it essentially inflates the amount of tax revenue, which the community doesn’t see as it is going back to paying the bonds, rather than the general fund. The Richmond City School Board recently passed a resolution asking the City to protect education funding from the economic risks associated with the project.
Public Housing
The housing crisis in Richmond is a multifaceted issue that is highly racialized and includes evictions, displacement + gentrification, housing insecurity + homelessness. There is a strong indication that the Navy Hill development deal will result in demolition of affordable housing units without a one-one unit replacement, leaving many folks vulnerable to homelessness.
The Navy Hill project is supposed to create 480 "affordable" units. Of those 480 units, none have been reserved for families living at or below 30% of the Richmond City Median Income (ELI units). It is important to note that 90% of the families living in RRHA housing are at or under 30% of the Richmond City Medium Income.
