The Better Housing Coalition (BHC) has purchased the property most recently known as the Quality Inn at 3200 W. Broad Street in the rapidly developing neighborhood of Scott’s Addition. The six-story building and accompanying property occupies a full block in a high-profile location along the Broad Street corridor, in close proximity to Interstates 95, 64 and the Downtown Expressway. It is also a block from a planned stop of the GRTC Pulse (the city of Richmond’s Bus Rapid Transit System), which, when completed will better connect residents with quality housing employment and services between the city and Henrico County.
BHC expects to invest a minimum of $30 million to develop the property. When completed, the development will be BHC’s largest single investment in the city in our 28-year history. Our desire is to develop and model a high-quality, mixed-use, mixed-income Transit-Oriented Development (TOD). A TOD is commonly defined as a high-density, mixed-use development withing walking distance of a transit station.
We are excited about the potential to offer future residents (in particular, families of modest income) better housing and school options as well as greater access to career opportunities.
For more information, read the full press release here.