Once home to Richmond�s wealthiest citizens, Grace Street boasted stately houses until the late 19th century, when commercial development and churches replaced many residences. Only a handful of Grace Street�s original structures, such as St. Peter�s Church, survived its urbanization, which led to a retail boom, inviting comparisons to New York�s Fifth Avenue. Built in 1904, the Hotel Richmond stood on the street corner overlooking Capitol Square and quickly became a central player in Richmond�s political history.