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.
“Once we are finished, it will be our largest investment to date,” said Greta J. Harris, president and CEO of the coalition. The property transfer was recorded Friday.
