Black History Museum
Project Impact
For decades the Leigh Street Armory has served as a strong symbol of strength, perseverance, and pride in the historic Jackson Ward district of Richmond, VA. Built in 1895 and listed on the National and State Registers of Historic Landmarks, the building originally served as an African American military battalion. It later became a public school for black students, then a reception hall for black soldiers during World War II before falling into disrepair. Today, after an adaptive reuse renovation, the Armory is once again a vibrant cornerstone of the neighborhood, serving as the Black History Museum and Cultural Center of Virginia.
Summarizing the three key reasons his bank chose to invest in the Black History Museum, executive Harry Turton says, “it complements the neighborhood. It repurposes a historically significant property. And it pays homage to Richmond’s history.” The investment was through the Dogwood Equity Fund, a proprietary fund of Union Bank & Trust. Renovations included an addition to the rear of the building, doubling the space of the previous structure.
In 2019, the VCDC Vern Henley Special Initiatives Grant Fund awarded the Black History Museum and Cultural Center of Virginia funds to support facility upgrades as they prepared to host the national traveling exhibition Paradox of Liberty: Slavery at Jefferson’s Monticello.
The transformation of the Leigh Street Armory exemplifies VCDC’s mission to revitalize communities while creating impactful opportunities for investors through federal and state historic rehabilitation tax credits.
Location:
Richmond, VA
Date of Closing:
January 2015
Development Partner:
The M Companies, LLC
Project Cost:
$6,420,612
Private Equity Invested:
$1,630,000
