City Hall is moving forward to acquire a 57,000-square-foot office-warehouse at 10 W. Belt Blvd. in South Side to expand shelter capacity for the homeless.

Mayor Levar M. Stoney’s administration introduced the legislation Monday seeking the City Council’s approval to proceed with the purchase after coming up with the $3.65 million that it plans to pay, more than double the $1.7 million the property is valued at by the city for real estate tax purposes.

The proposal represents the third prong of the city’s plan to expand the total space to house the unsheltered during the winter, major storms and heat waves.

The city already has partnered with nonprofits to open and operate a 150-bed shelter for single adults at 1900 Chamberlayne Ave. and a 50-bed shelter for families at 7 N. 2nd St.

The new space would provide additional capacity to serve a growing homeless population, according to the administration. It is not clear when the building will open.

If the council authorizes the administration to proceed, it would take at least several more months before the transaction would be completed.

According to the administration, the money to cover the cost would come from the return of an overpayment of lodging taxes and from extra interest income the city has earned from the use of city funds.

In information attached to the ordinance, the administration states that it anticipates the Greater Richmond Convention Center Authority will return $3.14 million to the city.

The city transmits lodging taxes from hotels, motel and other short-term rentals to help repay the bonds that paid for the expansion of the convention center between 1998 and 2003.

In addition, the city is gaining nearly $510,000 in additional interest on the use of city funds, providing sufficient funds to pay the $3.6 million purchase price and the $50,000 in closing costs.

The Finance and Economic Development Committee led by 7th District Councilwoman Cynthia I. Newbille is to consider the administration’s proposal Thursday, Jan. 18, and it could go to council for approval on Monday, Jan. 22, if the committee recommends it.