Bon Secours Richmond Health System Agrees To Join City In Funding Camp Site Next To Science Museum
The City of Richmond has designated a 17-acre tract off West Lee Street next to the Science Museum of Virginia as the location for a summer training camp facility to be used by the NFL's Washington Redskins starting next year.
Bon Secours Richmond Health System (BSRHS) will partner with the city to sponsor a major portion of the development costs. Under a letter of intent, the health system agreed to invest nearly $6.4 million over 10 years to be used toward the cost of construction for the two full-size practice fields and sports medicine facility on Leigh Street.
Bon Secours also plans to develop a 75,000-square-foot medical building at the former Westhampton School site and develop a smaller medical wellness and fitness center and related use property in the East End adjacent to the Bon Secours Richmond Community Hospital.
The team announced in June that it had selected Richmond to host its summer training camp and team officials made the final site selection last week after reviewing several available options. The team committed to hold its training camp in Richmond for the next eight years as part of the agreement. City officials said the camp is expected to have an annual economic impact of $8.5 million in Richmond.
"This agreement, in partnership with Bon Secours and the EDA, places the city in a position to not only build the practice fields and field house for the Redskins, but to generate investment and business expansion throughout the city," said Mayor Dwight C. Jones.
Under the agreement, the city will provide the health system with a long-term lease for the Westhampton School site. In exchange for being able to develop and use the school site without making an outright purchase, the health system agreed to apply the market value of the property toward the construction costs of the practice facility and the development of Richmond Community Hospital in the Richmond's East End.
According to Bon Secours, the Westhampton development is expected to generate 120 new jobs with a minimum payroll of $10 million annually while the East End development is expected to generate 75 new jobs and a minimum annual payroll of $5.7 million.
The city of Richmond plans to make a short-term bridge loan to the Economic Development Administration to close the overall Leigh Street transaction. The loan will be paid back to the City through rent and sponsorship money to be collected by the EDA. The EDA will act as the official agent for the Leigh Street site and will lease the facility to the health system for its use by residents and local teams, reserving it for a six-week period for the exclusive use of the Redskins.
Specifics of the performance agreement and transaction terms are still being finalized. A final agreement is expected to be signed in the near future.