Richmond’s former Greyhound terminal at 2910 North Arthur Ashe Boulevard is being torn down to make way for a high‑end rental complex. Developers plan a Class A multifamily project that will blend upscale apartments with ground‑floor retail, targeting the city’s booming Scott’s Addition district. The project, led by XYZ Development, will include rooftop amenities and sustainable materials, matching the city’s green incentives.

The 1982 bus depot sat idle as passenger traffic shifted to highways. Converting the 1.2‑acre parcel into 200 units meets Richmond’s tight rental market and the neighborhood’s influx of tech firms and breweries, which have lifted rents about 15% a year. City officials approved rezoning last month, citing need for higher density near the new Bus Rapid Transit line.

Investors view the redevelopment as a bet on demographic trends, with rents projected above $1,800 per month. The mixed‑use design promises steady foot traffic for street‑level shops while supplying premium housing for young professionals. Completion slated for late 2025 will add an asset to Richmond’s urban core. Banks have pledged financing, seeing the project as a catalyst for further commercial development along Arthur Ashe Boulevard.