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Why did the Reed Square Foundation buy Reed Square?

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Why did the Reed Square Foundation buy Reed Square?

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The Reed Square Foundation bought Reed Square to protect it from development and to honor Church Hill benefactors. In February 2002, it became clear that the Historic Richmond Foundation no longer wished to own or maintain Reed Square and that its development was a distinct possibility. Reed Square is one of the last undeveloped pieces of property in the immediate area. The founders of the Reed Square Foundation oppose any structural or residential development on the property. It adjoins one of the oldest and most historic homes in the neighborhood, the Turner/Reed House at 2520 East Franklin (built between 1803 and 1810). The street has its original stone paving.

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