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Virginia Union University Acquires The Budget Inn Property

December 17, 2019

 Contact:  Pamela Cox

Director, Strategic Communications

Virginia Union University

 Office: (804) 257-5856

Cell:  (804) 937-7936

phcox@vuu.edu

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(Richmond, VA) - Virginia Union University has acquired the property formerly owned by The Budget Inn, located on the corner of Brook and Lombardy Roads. The property was purchased for an undisclosed amount and was closed on Thursday, December 5, 2019.

“This is a proud moment for Virginia Union University,” said Dr. Hakim J. Lucas, President & CEO of Virginia Union University. “For the first time in four decades, we are expanding beyond our current gates. It is a historic decision as we plan toward our future and identify ways to provide resources to strengthen redevelopment in the Northside Richmond community.”

VUU has committed to working with the Commonwealth of Virginia, the City of Richmond, and Richmond Public Schools to help accelerate the city’s economic diversification through entrepreneurial growth, workforce development, and identification of infrastructure investments needed in the Northside of the City. Since the launching of the “VUU is RVA” initiative, VUU has awarded scholarships to RPS 8th-grade students, opened a community health clinic on campus in partnership with the Capital Area Health Network, and offered space for community organizations such as The READ Center and Henrico PAL.

“The purchase of The Budget Inn is significant because it endorses the financial strength of the University,” said Gregory Lewis, Sr. Vice President & CFO. “We were able to purchase the property without incurring debt, using our available resources. We are very humbled to be able to purchase this property with plans to improve the community.”

VUU plans to revitalize the property with new construction that will include a multi-purpose space to focus on learning and community development.

For more information and to RSVP for the press conference, please contact Pamela Cox at phcox@vuu.edu or (804) 937-7936

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About Virginia Union University

Virginia Union University is a premier liberal arts urban institution of higher education and center of excellence for the preparation of students and the development of leaders for tomorrow’s world. It was founded in 1865 to give newly emancipated slaves an opportunity for education and advancement. Virginia Union University offers a broad range of educational opportunities that advances liberal arts education, teaching, research, science, technology, continuing education, civic engagement, and international experiences. Visit https://www.vuu.edu/ for more information.