If a recent event downtown is any indication, urban development is not likely to slow anytime soon in Richmond.
Eighteen developers presented updates on 55 projects during Monday night’s Downtown Development forum, hosted by the City of Richmond, Greater Richmond Area Commercial Real Estate, and Venture Richmond.
The event, held at Richmond CenterStage, focused on projects in and around the downtown area, Manchester and Shockoe Bottom, including those recently completed and soon to be completed.
The night emphasized big projects that have been on Richmond’s horizon for some time, including the Central National Bank building, where unit delivery should start this spring, Quirk Hotel, GRTC Pulse, Main Street Station, and the Virginia Capital Trail.
Local developers offering updates included Ed Solarz of Genesis Properties. The company’s Hatcher Tobacco project in Manchester is 95 percent completed and already 70 percent leased.
“We can’t lease them up fast enough,” Solarz said.
Drew Wiltshire of Thalhimer Realty Partners presented on the Manchester development formerly known as Reynolds South, now renamed City View Landing. Apartments in its first phase should be completed by July.
Ultimately, local developer Charles MacFarlane, who recently finished up his project at 2323 Main St., said the forum’s participants presented projects that represent 2,200 units either in development or about to be developed. They amount to a combined investment of just over $1 billion, he said.