Developers and nonprofit partners described large-scale projects in Henrico and Richmond that used land banking, trust funds, bridge loans, tax abatement and LIHTC equity to unlock redevelopment and preserve affordability.

Swift Current Energy has secured $242 million in financing for its 150 MW Prospect Power Storage facility in Rockingham County, Virginia, paving the way for operations to begin in 2026. The project, which boasts a 15-year power purchase agreement with Dominion Energy Virginia, aims to bolster the local electric grid's reliability and generate substantial tax revenue for Rockingham County over its lifespan, solidifying Swift Current Energy's commitment to expanding energy storage capabilities in the PJM service area.

Council approved a resolution supporting a proposed $450 million mixed‑use development by an affiliate of Hunt Military Communities at Huntington Avenue; councilmembers praised the project as potentially the city's largest investment while some procedural details and legislative sponsors were noted.

A comprehensive rezoning for The Bluffs at Kiskiak sked to rezone roughly 206 acres for mixed-use development including 704 homes, a CCRC and an open-air museum. Staff recommended denial for plan inconsistency; the Planning Commission split; the applicant requested and the board granted a deferral to October 13 to revise proffers and continue community outreach.

At its April 14 meeting the Virginia Beach Development Authority approved two EDIP part A awards (OneSpace Architects, PT2Go), authorized four Atlantic Avenue façade grants totaling $77,833, and approved two international incubator subleases, including Luna's Light; one member abstained on a sublease vote due to a disclosed firm relationship.

Delegate Reid told the subcommittee HB 11 22 would provide certainty in development approvals by clarifying vesting rights and streamlining reviews to encourage more rental and first‑time homes; environmental and planning groups warned the bill’s unlimited "look‑back" could revive decades‑old site plans and create costs and environmental risks.