Approve revised Terminal One housing development and community benefits

Political StatementsZoningResolution

In Plain English

Richmond signed a 2014 agreement to sell 10 acres at 1500 Dornan Drive for 323 condos and townhomes. The original project became financially unfeasible due to high construction costs. If approved, the city gets $10 million in sale proceeds plus $5 million more when all units sell, while the developer builds community benefits worth up to $20 million including an accessible wharf, park, and hazardous soil cleanup.

Auto-generated summary. Source: official agenda documents.

Votes

To approve the resolution that includes the Terms of Amendment to Land Disposition Agreement for Terminal One Project with Developer; authorize the city manager and city attorney to finalize the Amendment incorporating the approved terms; and declare Terminal One Property Exempt From Surplus Land Act

Passed

6 to 0

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Why This Vote Matters

Richmond will receive $15 million total and up to $20 million in community improvements from a revised deal to build 323 homes at Terminal One, with the council approving the amended agreement with broad support in a 6-1 vote. The city gets $10 million when the sale closes plus another $5 million when all units are sold, while the developer will build an accessible wharf, park improvements, and clean up contaminated soil. This deal replaces the original 2014 agreement that became too expensive to build due to rising construction costs. The lone dissenting vote came from an unnamed council member, while Mayor Butt was absent.

Auto-generated context. Source: official meeting records.