Redevelopment thumb|left|upright|Pt. Richmond Historic District The former Richmond Shipyard No. 2 and Inner Harbor were transformed starting in the late 1980s into a multiunit residential area, now known as Marina Bay. Starting in the early 2000s, the city began an aggressive redevelopment effort spurring exurban tract housing, condominiums, townhomes, a transit village, and terraced hillside subdivisions. The city also created a redevelopment agency that refurbished Macdonald Avenue, funded the Metro Walk transit village, resurrected the Macdonald 80 Shopping Center, and created the Richmond Greenway rails-to-trails trail and urban farming project. Since 1996, new homes have increased in price by 32%, and there has been a 65.6% increase in the total amount of new dwellings built annually.
Redevelopment thumb|left|upright|Pt. Richmond Historic District The former Richmond Shipyard No. 2 and Inner Harbor were transformed starting in the late 1980s into a multiunit residential area now known as Marina Bay. Starting in the early 2000s, the city began an aggressive redevelopment effort spurring exurban tract housing, condominiums, townhomes, a transit village, and terraced hillside subdivisions. The city also created a redevelopment agency that refurbished Macdonald Avenue, funded the Metro Walk transit village, resurrected the Macdonald 80 Shopping Center, and created the Richmond Greenway rails-to-trails trail and urban farming project. Since 1996, new homes have increased in price by 32%, and there has been a 656% increase in the total amount of new dwellings built annually.