City Council on Monday introduced legislation to allow the health system to access the city-owned property to begin the demolition, which is expected to cost $5 million.
City setting stage for VCU Health to demolish Public Safety Building
Education
VCU Health continues to pay for downtown development exit
While the health system remains on the hook for Richmond real estate tax payments that continue to come due, it’s unclear whether a new university-led project for the same site would align with the city’s desire to keep the downtown property taxable.
Childcare chain expanding in Chesterfield with two new locations
Local operators of a national childcare chain are expanding their business with two new locations on either side of Chesterfield County. Married couple and franchisees Charul and Raj Patel plan to open new Kiddie Academy outposts at 660 Watkins Centre Parkway near Westchester Commons shopping center, and at 731 Bermuda Hundred Road near Meadowville Technology… Read more »
VCU adds BookHolders building to its real estate collection with $3M deal
As its health system juggles the fallout from a failed downtown development deal, VCU’s real estate division remains in deal-making mode with a new acquisition around its Monroe Park campus.
VCU board OK’s 3% tuition increase; CoStar pledges $18M for school’s new arts center
The average full-time in-state undergrad will pay about $16,200 per semester, but the university will still have a nearly $60 million budget gap for the coming school year.
$73M and counting: VCU Health on the hook for millions more in downtown project-exit costs
The known cost for the health system to walk away from the project on the site of the city’s Public Safety Building appears to be closer to $80 million – and could end up being higher.
‘It’s not their money’: Wilder calls for Rao’s dismissal, state investigation after $73M VCU Health development payout
“With this amount, how many students are robbed of attending VCU in scholarships? Most importantly, what actions are being taken to ensure that enormous wastes like these are prevented in the future?” Wilder said in Tuesday’s press conference.
VCU moving ahead with arts building planned at Broad and Belvidere, now expected to cost $253M
Amid inflation and supply chain challenges, VCU expects it will cost tens of millions more to build the sizable new arts building it’s planning downtown.
Update: Wilder calls for Rao’s dismissal, JLARC investigation after $73M VCU Health development payout
VCU Health revealed the payment Friday in response to a FOIA request from BizSense. The payment let the health system back out of the project and the 25-year lease it signed months into the pandemic.
VCU finishes construction of $125M STEM building on Franklin St.
Built on the site of the former Franklin Street Gym, the new 168,000-square-foot, six-story building brings added lab, classroom and office space to the university’s College of Humanities and Sciences.