The North Carolina investor paid nearly $1.5 million for the property in January of 2020, just in time to be dealt a blow by the pandemic-induced office market downturn.
Commercial Real Estate
Cousins look to Manchester to expand their neighborhood market chain
With four neighborhood markets up and running elsewhere in the city, three cousins are now looking to bring their concept to the Southside to help quell Manchester’s grocery needs.
Nonprofit planning dozens of low-income apartments near Six Points
Virginia Supportive Housing is planning the four-story building on undeveloped land across from the Northside Campus of Richmond Behavioral Health Authority, which is donating the site.
D.C. firm wants to build 221 apartments on former Dominion parking lot in the Fan
It would be the largest new-construction apartment development the neighborhood’s seen in recent years and would add to 125 units and dozens of townhomes that are already in the works next door.
Lego chooses local GC to build its massive factory in Chesterfield, delays start date
While it has the construction team in place, the Danish toymaker now expects to start production as the factory in 2027, rather than 2025 as initially announced.
Westward expansion of Rocketts Landing continues with 3-acre riverfront rezoning approval
“I can’t honestly tell you what it’s going to end up being,” said Richard Souter. “This rezoning just opens up our landscape of potential opportunities.”
Project Snapshot: Work begins on Grove Ave. apartments, cohousing project on Arthur Ashe Blvd.
Work is underway in the city on a pair of sizable multifamily developments that together will bring more than 450 new bedrooms to Scott’s Addition and the Museum District.
With local funding boost, development team winding up for Diamond District’s first phase
RVA Diamond Partners, led locally by Thalhimer Realty Partners, recently secured millions of dollars in additional capital from multiple Richmond investors that it plans to put toward land and bond purchases for the project’s first phase.
Code-named ‘Project Gale’ would add 2.4M-square-foot warehouse development near Chester
The proposal is the developer’s latest pitch for a property that was previously going to be part of the $2 billion Shandong Tranlin Paper Co. production facility that never materialized.
Planning Commission endorses boutique hotel in the Fan, new bridge on Arthur Ashe Blvd.
It was a busy night for the city’s Planning Commission on Tuesday, as it gave the thumbs-up to everything from a boutique hotel in the Fan, to a new Manchester apartment building, to a bridge replacement project near The Diamond.