The city has secured a newly completed extension of the Canal Walk, a project that was completed and paid for initially by the developers of The Locks.
Last month the City of Richmond paid $1.8 million for about 0.09 acres at 390 S. 11th St., as well as improvements to the land, including the sidewalk, planters, fencing, lights and irrigation system.
The city’s purchase extends the Riverfront Canal Walk a block from 10th Street to 11th Street.
The seller in the deal was a partnership between WVS Cos. and Tom Papa, the developers of The Locks, the multiphase project that has rehabilitated the former Reynolds Metals complex along the canal.
The extension and improvements were done as part of the overall construction of The Locks tower, an adjacent, 12-story mixed-use building nearing completion.
“It was a project the city wanted to do and we helped them with that,” said Richard Souter of WVS. “They bought a finished project.”
The deal was recorded with the city on June 20, but has been more than a year in the making. City Council approved an ordinance in April 2019 to authorize the purchase of the land.
The Locks kicked off nearly a decade ago as a phased redevelopment of five buildings near the canal. To date, it’s brought nearly 500 apartments to market and houses Casa del Barco restaurant. The Locks tower is the penultimate project for The Locks, as WVS is planning a final phase on the canal’s south side.
The Locks Tower recently signed on C&F Bank as its first commercial tenant, and Souter said they’re now leasing and moving tenants into the apartments.
With work entering the home stretch at The Locks, WVS is looking to get another waterfront project off the ground.
In March WVS filed plans for a six-story mixed-use building with over 200 apartments at 4401 E. Main St. in Rocketts Landing, and Souter said they’re looking to begin work on the project by the end of 2020. WVS and Papa are also working on South Falls, a residential and office project in Manchester near the Southern States silos, which themselves are being eyed for redevelopment by Hourigan.