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Residential tower, 800-space parking garage proposed for Grace Street lot across from Carpenter Theatre

A group of Richmond developers wants to construct a residential tower across from the Carpenter Theatre in downtown Richmond that would include 28,000 square feet of ground-floor retail and an 800-space parking garage.

The developers said plans remain very much in flux, but presented a rendering showing an 18-story structure on the block bounded by Grace, Sixth, Seventh and Franklin streets. The space currently houses a surface parking lot and a parking garage built in the 1920s.

City Center LLC put forward the plans. The company is a partnership between CathFord Consulting, Price Studios and Taylor and Parrish Construction, along with an unspecified number of unnamed investors.

They said they plan to spend a minimum of $86 million on the development. The group made an unsolicited offer to buy the land for the project from the city of Richmond for $3.95 million.

The city’s Planning Commission unanimously recommended approval of the sale Monday. The City Council is scheduled to vote on the sale next week.

By: Amy O'Connor

Amy O’Connor is the Branch Administrator for the Strawberry Street Sales location. She is originally from Buffalo, NY and moved to Richmond in the Summer of 2016. In previous positions, she was the Office Administrator for MJ Peterson Real Estate in NY, worked for real estate attorneys as an Administrative Assistant, and for title insurance companies as a Title Searcher and Word Processor.

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