RICHMOND, VA (WWBT) - Two downtown buildings are in for a makeover. They are the first ever projects to be financed under Mayor Dwight Jones proposed Arts and Cultural District.
The city is lending the developer $250,000 for a more than $3 million project to renovate one building on Grace Street and one on Broad Street into apartments and commercial space.
Abandoned on broad for years, Morton's Jewelry store is about to become 24 apartments with retail space on the ground floor.
The developer says the project also fits in with Mayor Jones' plan to designate 65 city blocks from Broad to Belvidere into an Arts and Cultural District.
"A newer concept in the city called Live Work space. Where artists can sell there wares in the lower level and live upstairs," said developer Mike Glass with The Becca Group.
The apartments will rent from $600 to $1,000