Richmond Greyhound station on Arthur Ashe Boulevard closing in October

After more than 40 years on Arthur Ashe Boulevard, Richmond's Greyhound station will close in October to make way for a hundreds of new apartments and a mixed-use development.

Why it matters: Intercity bus riders will have to catch a ride in the parking lot across from Main Street Station in Shockoe Bottom after it closes.

The big picture: The shuttering of the Greyhound station has seemed likely for nearly a year, but a clear timeline wasn't available until WRIC reported the October date and the possible station move to Shockoe Bottom.

• "This is a spot where FlixBus ... and Virginia Breeze already conduct services," city spokesperson Gianni Snidle told Axios, confirming the month and relocation.
• A specific date wasn't available. It's also unclear if passengers would have access to Main Street Station while waiting or after the building closes in the evening .

Catch up quick: Greyhound bus stations nationwide have been closing and relocating at a rapid pace since 2022 after dozens, including Richmond's, were acquired by Alden Global Capital, the investment firm that rose to infamy for its acquisition and gutting of American newspapers .

• After the sales, multiple downtown Greyhound stations — many of which occupied prime real estate — closed and were relocated to spots that lacked indoor waiting areas, bathrooms or seating.

Zoom in: Alden paid $11.1 million for Richmond's 5-acre Greyhound property, which sits across from the $2.4 billion Diamond District project .

• A New York developer filed plans late last year for a two-building, mixed-use development with 650 apartments and nearly 11,000 square feet of retail space fronting Arthur Ashe, BizSense reported .
• Those plans were approved in April, according to city records .

Meanwhile, Megabus, an alternative low-cost intercity bus option popular for its cheap rides out of Shockoe Bottom, stopped service in Richmond and multiple other cities across the South earlier this month.

• Its owner filed for bankruptcy in June citing low ridership, the Baltimore Sun reported .
• Rival company Peter Pan Bus Lines took over all Megabus routes in New England and the mid-Atlantic, but apparently Virginia lines weren't included in the mid-Atlantic routes.

Yes, but: Routes on the statewide intercity bus service, Virginia Breeze , which worked with Megabus on its ticketing platform, aren't affected by the change because a separate company operates the lines, a spokesperson tells Axios.

• German transport company FlixBus , which operates Greyhound as well as its own brand, will also continue to service Richmond.