Shockoe Economic Revitalization Strategy
Richmond, Virginia
The City of Richmond commissioned the Shockoe Economic Revitalization Strategy to provide a strategic framework for future revitalization of this historic neighborhood with an emerging urban housing and entertainment district. The Strategy’s focus is on transforming the district to attract creative workers and industries to unique historic buildings, capitalizing on over $1B of prior public investment, including extensive improvements to the Main Street Train Station, which will become the hub for high speed rail serving the region
BAE led a team of planners and transportation experts to work with property owners and stakeholders, envisioning Shockoe’s future urban neighborhood. BAE conducted an extensive market feasibility study, reviewed existing Richmond economic development incentives and tools, and proposed innovative new uses including co-working facilities to anchor the Main Street Station Shed.
BAE also focused on food retailing, including recommendations to expand and relocate the existing farmer’s market. Strategies to advance the National African-American Heritage District, including a planned museum, were also incorporated into the Strategy. BAE’s final report, culminating more than a year of planning, analysis, and stakeholder outreach, re-positioned Shockoe as a cutting-edge business and entertainment district for the 21st century.
BAE provided a detailed Action Plan, including short- and long-term infrastructure investments, updated zoning regulations to encourage mixed-use buildings, treatment of flood plain constraints, and a menu of funding sources and tools to stimulate revitalization. The Mayor of Richmond showcased the Strategy in a series of public presentations. The Shockoe Economic Revitalization Strategy is available online.