Richmond judge approves foreclosure auction of South Richmond properties

Richmond Circuit Judge Claire Cardwell has agreed to allow Virginia Credit Union (VACU) to foreclose on and auction five properties in the Manchester area of South Richmond, Richmond BizSense reported.

The properties include three restaurant spaces on the 1200 block of Hull Street, a single-family home at 2010 Maury Street, and a vacant lot at 1124 Bainbridge Street. These properties have been under VACU control since 2024 after loans tied to local businessman Michael Hild fell into default.

Hild, who was convicted in 2021 on fraud charges related to his reverse mortgage company Live Well Financial, began serving a 44-month federal prison sentence in Petersburg in July 2026. His legal appeals delayed the sale process.

VACU had placed the properties in receivership and leased the commercial spaces to new tenants including Bolo’s Eatery, The Sassy Biscuit, and Scharolina’s Custom Cakes & Confections. The foreclosure auction will be conducted later this year by auction house Tranzon.

This ruling clears the way for the long-awaited sale of these South Richmond properties, which had previously housed Hild's businesses such as Dogtown Brewing Co. and Butterbean Market & Cafe.