(RECAP: A nonprofit developer has purchased a hotel most recently known as a Quality Inn for a redevelopment project in the rapidly changing Scott’s Addition area of Richmond.
In a competitive bidding process, the Better Housing Coalition plans to invest a minimum of $30 million to transform the six-story building at 3200 W. Broad St. and the entire block into a mixed-income apartment complex for families — with commercial space on the first floor fronting Broad Street. The Better Housing Coalition plans to turn the hotel into a family property and offer one-, two- and three-bedroom units, unlike many of the efficiency apartments that have opened in recent years in Scott’s Addition.)