Photo by Mark Robinson
The Greater Richmond Transit Company has settled on which suitors have dibs on its old bus barn property at 101 S. Davis Ave. in the Fan.
The transit company has chosen a $9.12 million offer from DKJ Richmond LLC, according to a GRTC memo. Local developers Chris Johnson and Tom Dickey of The Monument Cos. and Howard Kellman of The Edison Co. formed the entity to bid on the bus barn, according to a Richmond BizSense report.
At its monthly board meeting on Tuesday morning, GRTC’s Board of Directors is scheduled to vote on whether to proceed with the transaction for the 112-year-old property.
GRTC received 12 proposals for the bus barn property in July. In its request for proposals, the transit company said it would choose the bid that gave the “highest value” for the property.
No details on the DKJ Richmond's proposal were immediately available. Before the deal closes, the company must hold at least two public meetings to gather public feedback on its development plan for the property, according to the GRTC memo. The dates of those meetings are not yet set.
The transit company intends to use the proceeds of the sale to fund another unnamed capital project, according to the memo.
The deal could close as early as mid-November.