Project Snapshot: Carytown Exchange takes shape, puts some inline sections on hold

The future main entrance to Publix, seen from Ellwood Thompson’s parking lot. (Photos by Mike Platania)

View from Thompson Street shows Publix’s structure coming together.

The two-level underground parking deck was among the first structures to go vertical. Seen here from the CVS on Nansemond Street’s parking lot.

An overhead shot of crews continuing to dig in on Carytown Exchange, which encompasses an entire block in the busy neighborhood. (BizSense file photo)

The Carytown Exchange, a $40 million, 120,000-square-foot development at the western end of the retail district, continues to go vertical.

The project was announced two years ago after years of speculation about the future of the Richmond Shopping Center, which was razed to make way for the Exchange. Regency Centers, a Florida-based firm, is the project’s developer.

Publix is the development’s anchor tenant, taking 49,000 square feet. The Carytown Exchange also features retail outparcels facing Cary and Ellwood. A roughly 100-spot parking deck was among the first parts of the project to begin going vertical after demolition concluded last year, and now other structural parts of the Publix store have begun taking shape.

Rendering of Carytown Exchange along West Cary Street. (Courtesy Regency Centers)

Regency spokesman Eric Davidson said in an email that while construction on Publix and the Ellwood buildings is on schedule, the Cary-facing storefronts are lagging behind.

“It would be careless of us not to take the current economic conditions into our redevelopment planning,” Davidson said. “Given the severity of this national crisis, we look forward to completing the retail buildings along Cary Street at a later date.”

The construction schedule on those buildings is unclear, Davidson said. Publix finalized its lease in the space in late 2018, about six months after the project was announced.

The other 71,000 square feet of retail space across 23 storefronts is still available, as no other tenants have formally signed on. The Virginia ABC is considering moving its store from 10 N. Thompson St. into the development, but no lease has been finalized.

Davidson said they’re still in discussions with the ABC and other prospective tenants.

“We continue to see strong interest and there are multiple tenants we are in lease negotiations with, but none that we are in a position to announce at this time,” he said.

Thalhimer’s Jim Ashby, Connie Jordan Nielsen and David Crawford have the listing on the retail outparcels, along with Regency’s Annie Dlugokecki.

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Michael Dodson
Michael Dodson
5 months ago

So what will be along Cary Street red clay with a silt and construction fence for a couple of years?? A temporary park?? This was sold to the residents as being an extension and improvement to Carytown and now you are leaving it unbuilt. I know it did not need any special use permits or zoning change; I get the economy changed but can we get sometime line or idea of temp space use?

Michael Dodson
Michael Dodson
5 months ago

So what will be along Cary Street red clay with a silt and construction fence for a couple of years?? A temporary park?? This was sold to the residents as being an extension and improvement to Carytown and now you are leaving it unbuilt. I know it did not need any special use permits or zoning change; I get the economy changed but can we get some timeline or idea of temp space use?