[1][page needed] The neighborhood is named for Luther Libby, who built his home on the corner of Main St. and 29th St. in 1851.

[1][page needed] Looking from Libby Hill down towards the James River is said to be "The View That Named Richmond".

There is a plaque on Libby Hill that states the following: As of 2014, there is a proposed condominium project that could threaten this view.

[1][page needed] The Confederate Soldiers' & Sailors' Monument Association was formed in 1889, with future Richmond mayor David C. Richardson as its chair.

[10] It covers the slopes of the hill between E. Franklin St and Main St. and includes fountains, paths, a small park house, the plaque describing the view that named Richmond, and the Confederate Soldiers and Sailors Monument.

It also includes monuments to Sergeant John Henry Taylor and Officer Thomas "Mongo" McMahon.