RVA 5x5 - November 4, 2022
The Two Towers (That Weren’t); The Bridge to Be Named Later; Bless the Blessing Warriors; Sanctuary Sell-Out; Casino Chess Game
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STORY #1 — The Two Towers (That Weren’t)
There is an old saying that the past is prologue. If you apply that saying to big, shiny project economic development deals in Richmond that promise to fix all of our ills, that usually means the project doesn't deliver on what was promised. The economic realities don't meet “projections,” the City ends up bailing out the shortfall, and our ills get exacerbated instead of resolved. Wash, rinse, repeat.
But in this story, a positive example of the past is prologue applies, specifically concerning two events in the last two weeks and two towers that will not be built. They both are direct proof that Richmond made the right choice by rejecting the Navy Hill arena project and why the City is going to be better off for decades because of that decision.
Navy Hill never would have delivered on its “promise” — it was far too risky financially, used questionable economic assumptions (on …
