Virginia Approves Funding for VCU to Acquire Altria Center and Build New School of Dentistry Facility
Key Insights
The Virginia General Assembly approved the 2027-29 state budget, including funding for VCU to acquire the 450,000-square-foot Altria Center for Research and Technology.
The Altria Center will provide modern research space critical for VCU Massey Comprehensive Cancer Center (search) to maintain its NCI comprehensive designation and launch life-saving clinical trials.
A new five-story, 312,000-square-foot School of Dentistry building will be constructed, expanding clinical learning environments and patient care capacity for Virginia's only dental school.
The Virginia General Assembly approved the 2027-29 state budget on Monday, authorizing funding for Virginia Commonwealth University to acquire the 450,000-square-foot Altria Center for Research and Technology and to construct a new School of Dentistry building. Gov. Abigail Spanberger is expected to sign the budget imminently, ahead of the new fiscal year on July 1.
"We are profoundly grateful to the General Assembly and Governor Spanberger for their support and transformative investments in the Altria Center and a new facility for VCU's School of Dentistry," said VCU President Michael Rao, Ph.D. "These facilities represent a shared strategic commitment to advancing Virginia's health and innovation economy."
Altria Center Acquisition: A Once-in-a-Generation Opportunity
The nine-story Altria Center for Research and Technology, located at 601 E. Jackson St. adjacent to VCU's university medical center campus, features state-of-the-art research space, including wet labs, as well as academic space for VCU's new School of Public Health and School of Pharmacy, which consistently ranks among the top 20 pharmacy schools in the United States.
The facility will provide much-needed research space for the VCU Massey Comprehensive Cancer Center (search) — space that is needed for Massey to remain competitive for maintaining its comprehensive designation from the National Cancer Institute (NCI). This status unlocks federal funding, information-sharing and resources, and enables Massey to launch life-saving clinical trials and attract the best doctors and researchers to Virginia. To remain competitive for its comprehensive re-designation, Massey must identify 50,000 square feet of additional modern research space.
"Acquiring the Altria Center for Research and Technology is a once-in-a-generation opportunity for VCU," said Meredith Weiss, Ph.D., senior vice president for finance and administration and chief financial officer. "It provides the specialized research infrastructure we need immediately to support the growth of the Massey Comprehensive Cancer Center, while creating a platform to accelerate health sciences research across the university for decades to come."
Monica L. Baskin, Ph.D., interim director of VCU Massey Comprehensive Cancer Center (search), emphasized the clinical significance: "Our mission is to save lives and reduce the cancer burden for all Virginians. The procurement of this new space will enable Massey researchers and staff to utilize cutting-edge lab facilities that will allow us to rapidly translate discoveries into life-saving therapies."
By purchasing the Altria Center rather than building new, VCU estimates that constructing a new facility would cost over three times as much and would take an additional five to nine years before it could be fully operational.
Advancing Pharmaceutical Sciences and Public Health
For VCU's School of Pharmacy, the Altria Center will provide a modern facility to bring transdisciplinary teaching and research under one roof. The school offers master's, doctoral and postgraduate programs, a pharmacy technician training program, and its newest offering, the B.S. in pharmaceutical sciences program, built with the needs of the region's burgeoning pharmaceutical industry in mind.
"While we've long been at the forefront of drug discovery, development and delivery through our research enterprise, the modern research and teaching space this new facility offers is essential to advancing new therapies, pharmaceutical innovations, and breakthroughs in disease prevention and treatment," said Kelechi "K.C." Ogbonna, Pharm.D., dean of the VCU School of Pharmacy (search).
Monica Swahn, Ph.D., dean of the VCU School of Public Health (search) — established in 2023 — noted that with the launch of new programs, current academic space is expected to be at capacity and the Altria Center would help advance the school's mission to improve health, well-being and longevity for all populations.
VCU is the only university in the United States that has a doctoral program focused on pharmaceutical engineering, and the university expects the facility will help attract top talent and strengthen Richmond as an international destination of choice for pharmaceutical innovations.
New School of Dentistry Building
The five-story, 312,000-square-foot School of Dentistry building will include classrooms, academic offices, cutting-edge academic laboratories, and clinics for predoctoral, dental hygiene and specialty dentistry programs, aligning with modern practices in dental education. The facility will be constructed on the current Larrick Student Center site, which is slated for demolition in spring 2027.
"This new state-of-the-art facility will enable increased student enrollment and advanced clinical learning environments, ensuring that we can provide exceptional care for our patients while preparing the next generation of dentists and dental hygienists to serve the commonwealth of Virginia," said Jeff Johnson, D.M.D., Ed.D., interim dean of the VCU School of Dentistry (search).
The School of Dentistry currently accommodates more than 100,000 patient visits each year from across the commonwealth and serves as the state's primary dental safety-net clinic, functioning as the largest provider of dental care to Virginians insured by Medicaid. As the only dental school in Virginia, it is also the only facility in the state that offers complete multidisciplinary dental care.
Economic Impact
As a top 50 public research institution with more than $560 million in sponsored research funding, VCU views these investments as integral to accelerating growth in research across the health sciences. According to a March 2026 economic impact report, VCU added $7.8 billion in income to the Richmond Metro Area economy in FY 2023-24, or 6.9% of the regional total gross regional product, and supported 80,728 jobs — one out of every 12 jobs in the metropolitan region. Statewide, VCU's economic impact is $18.5 billion, with 95,707 jobs supported.