Transforming Richmond: The $500 Million Midtown64 Mixed-Use Development Begins
- Altay Uzun
- Jan 22
- 3 min read
Richmond, Virginia, is about to see a major transformation with the launch of Midtown64, a $500 million-plus mixed-use development. This ambitious project will reshape a 46-acre site, formerly home to Genworth Financial's headquarters, into a vibrant community hub. The development promises to bring new apartments, townhouses, office space, retail, and hotel accommodations, creating a dynamic environment for residents and visitors alike.
A New Chapter for Richmond’s West Broad Street
The Midtown64 project marks a significant investment in Richmond’s West Broad Street corridor. The site, spanning 46 acres, was purchased by Baltimore-based developer Greenberg Gibbons and Shamin Hotels for $23.75 million. Shamin Hotels is known as Virginia’s largest hotel owner and operator, bringing valuable hospitality experience to the venture.
This development will replace the former Genworth Financial campus, which included four office buildings and two land parcels. The transformation will create a mixed-use campus covering 2 million square feet, designed to meet the growing demand for housing, office space, and amenities in Richmond.
What Midtown64 Will Include
Midtown64 is planned as a comprehensive community with a variety of uses to support modern urban living. Key components include:
Up to 1,000 rental apartments offering diverse housing options for individuals and families.
194 townhouses constructed by Miami-based Lennar, known for quality residential developments.
300,000 square feet of office space designed to attract businesses and foster economic growth.
A 226-room dual-branded hotel, including Tempo by Hilton, to serve visitors and business travelers.
130,000 square feet of retail, restaurant, and entertainment space, anchored by a grocery store and a fitness center.
This mix of residential, commercial, and hospitality elements aims to create a walkable, convenient neighborhood where people can live, work, and play.
Impact on Richmond’s Community and Economy
Midtown64 will bring hundreds of new homes to Richmond, addressing the city’s growing need for rental housing and townhouses. The addition of office space will provide opportunities for local businesses and attract new companies to the area. Retail and entertainment venues will enhance the neighborhood’s appeal and provide amenities for residents and visitors.
The hotel component will support tourism and business travel, contributing to the local economy. By creating a vibrant, mixed-use environment, Midtown64 is expected to boost job creation during construction and after completion.
Design and Development Partners
Greenberg Gibbons leads the development, bringing extensive experience in mixed-use projects. Their partnership with Shamin Hotels combines real estate development expertise with hospitality management, ensuring a well-rounded approach to the project.
Lennar, responsible for the townhouses, is a nationally recognized homebuilder with a reputation for quality and innovation. Their involvement guarantees that the residential portion of Midtown64 will meet high standards for design and livability.
What Residents and Visitors Can Expect
Midtown64 aims to offer a modern urban lifestyle with easy access to shopping, dining, fitness, and entertainment. The grocery store and fitness concept will serve as anchors for daily needs and wellness activities. The mix of apartments and townhouses will provide options for different preferences and budgets.
The office spaces will be designed to accommodate a range of businesses, from startups to established firms, fostering a collaborative work environment. The hotel will offer comfortable accommodations with the convenience of nearby amenities.
Looking Ahead
Construction is underway, and the Midtown64 development is expected to take several years to complete. As the project progresses, it will transform a key part of Richmond into a lively, multi-use community that supports the city’s growth and enhances quality of life.
Residents, businesses, and visitors will benefit from the new housing options, office spaces, retail outlets, and hospitality services. Midtown64 represents a significant step forward in Richmond’s urban development, setting a new standard for mixed-use projects in the region.
This project highlights the potential for thoughtful redevelopment to revitalize existing sites and create spaces that meet the needs of today’s urban populations. Midtown64 will be a place where people can connect, work, and enjoy life in Richmond.
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