Richmond Public Schools staff on Monday presented the final drafting phase of a feasibility study that concluded the historic Maury Street (former Altria) warehouse can be renovated into a modern career and technical education campus.

The study — prepared with KEI Architects and technical subcontractors — called the building structurally sound for renovation and laid out a phased approach: a phase‑1 shell renovation and build‑out of roughly one‑third of the 290,000‑square‑foot structure, followed by subsequent phases to convert the remaining space. The presentation included three schematic mock‑ups rather than final designs.

Staff cautioned that the estimate is preliminary and highly contingent on core‑drill results, environmental testing for lead/paint/asbestos, and design choices. Presenters said the phase‑1 estimate was on the order of $79 million, with a broader program figure cited in the study near $196 million. The cost model includes a contingency line for abatement (presenters noted an abatement allowance of approximately $2 million in the estimate).

Board members asked detailed questions about contingencies, funding sources, and timing. Staff said roughly $60 million could be available from remaining tranches in the current new‑school construction program plus a $20 million state award specifically for the project; they also discussed pursuing historic‑tax‑credit strategies, city investment in exchange for transferring the existing RTC site, philanthropy, and corporate partnerships as potential gap‑closers.

Presenters emphasized additional steps before a design contract: environmental core drills and utility locating, and a traffic study to be scoped during the formal design phase. If the district proceeds on the projected timeline and closes funding gaps, staff said demolition/abatement could begin after design and an initial move‑in could be targeted for summer 2028.

KEI Architects’ Chris Humes told the board the cost estimate includes a contingency for abatement and that discovery of hazardous materials would be budgeted for rather than expected to double phase‑1 costs. Board members asked staff to continue community engagement, refine cost quotes through multiple bids, and begin formal discussions with the city about potential land‑transfer or developer partnerships.