(RECAP: Developers have moved a step closer to their vision of reshaping the Grace Street corridor with a mixed-use development that could cost as much as $100 million. The Richmond Planning Commission approved the sale of city-owned land across from the Carpenter Theatre, an L-shaped parcel encompassing most of the block between Grace, Franklin, North Sixth and North Seventh streets. If City Council approves the plan Monday, the 1.6-acre site will be sold to City Center Development LLC for $3.95 million. Requirements for the sale include providing at least 800 parking spaces, with 600 available to the public, 28,000 square feet of ground-level retail space and 372,000 square feet of residential or commercial space — or a combination. The first phase of parking and retail must be completed within 20 months, and the second phase within five years. Residential use or such commercial projects as a hotel are still being considered. The project also could include one tower or two.)
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