The owners of a Richmond design firm have purchased a downtown building as the company looks to bring on new partners and expand.
Rohn Price, Matt Simpson and Steve Harvey bought the three-story office at 207 N. Foushee St. for $600,000 on May 16. The three are partners at Price Studios, an architecture and interior design firm that will relocate to the Monroe Ward building from its current home in the Fan.
Price Studios has been based out of 9 S. Harvie St. since 2012. The company was formed in 2009 as a subdivision of Richmond-based Delta Airport Consultants. Price, Simpson and Harvey, along with Syd Tetterton, bought the division in 2013 to form Price Studios. Over the course of the last three years, the company has grown from six to more than 20 employees.
“We’ve run out of space,” Simpson said. “Our operations had grown to the point that we’re out of capacity here.”
The growth has been fueled by Price Studios’ work designing healthcare, aviation, corporate, mixed-use and higher education buildings. Simpson said last week the firm was awarded the job to design a $42 million terminal building at Missoula International Airport in Montana. Locally, the company has done design work for Hardywood Park Craft Brewery’s new facilities in Charlottesville and Goochland, Commonwealth Pediatrics new office in Chesterfield County, the Uptown Alley opening in China and a VCU medical office in Short Pump.
Simpson said he and his partners considered other parts of town like Scott’s Addition but liked the activity taking place in the shadow of the redeveloped Central National Bank Building at 219 E. Broad St.
“We feel like it’s up and coming,” Simpson said. “We decided we had to jump on it.”
Built in 1910, Price Studios’ new office building was formerly called the arcade building, according to Simpson. The property was an outpost for the Southern Bell Company and later used as local bridge and structural workers’ union meeting place.
Price Studios will use 4,600 square feet of the building – about 2,000 square feet more than it has at its Fan location. Remodeling plans call for adding new windows, furniture and paint. The property is also used by Bowyer Studio, a commercial photography shop, and Third Surface, a 3D printing company.
In addition to adding employees, Price Studios is finalizing terms to add two new partners from within the company and changing its name and logo. Amy Fox, an interior designer based in Roanoke, and Jeff Loinette, an architect based in Richmond, are the two new future partners. Price Studios will eventually do business as Price Simpson Harvey.
“We’re really excited about the aviation market taking off,” Simpson said of the company’s future. “We want to fill that building with architects on all three floors.”