The tower, center, at about the time it was topped off late last year. (Courtesy SkyShots Photography)
The newest addition to the downtown skyline recently hit a major construction milestone.
CoStar Group held a ceremonial topping off of its new 26-story office tower at 600 Tredegar St. by placing the final steel beam during at a private ceremony in late December.
Installation of the 750,000-square-foot skyscraper’s glass façade has also begun, showing yet another sign of progress on the first new-construction office building to rise in the city in recent years.
At 421 feet tall, it’ll second only the state’s 449-foot Monroe Building on 14th Street, but that building may soon be razed. Regardless, due to its topographic location, CoStar’s building is set to be the highest building in the air at 522 feet above sea level.
Construction on the tower got underway in late 2022 and is just over a year away from wrapping up. A CoStar spokesperson said work is scheduled to be completed in March 2026 and that the company will begin moving in a month later. CoStar currently has 2,300 employees in Richmond and the new campus will have capacity for 4,000, the spokesperson said.
The two new buildings are rising next to CoStar’s existing local office at 501 S. 5th St. (Mike Platania photo)
In front of the office tower will be a six-story building CoStar is calling “Foundry Park” that will include 15,000 square feet of restaurant and retail space fronting the water and Brown’s Island.
CoStar’s spokesperson said Foundry Park will have room for four or five restaurants with outdoor dining space, 80 parking spots and a promenade that’ll connect 5th and Tredegar streets.
Pickard Chilton is the development’s architect and Whiting-Turner is general contractor. CoStar declined to disclose the overall project cost. At the time of groundbreaking it was estimated to cost $460 million.
The building is rising on a four-acre plot that CoStar bought in 2020 for a then-record $20 million. The company announced the tower plans a year later.
CoStar’s tower isn’t the only major new addition to the riverfront, as work continues on the 7,500-capacity Allianz Amphitheater at Riverfront venue just to the west.
The new venue has been steadily announcing acts beginning this summer, including Dave Matthews Band, “Weird Al” Yankovic and Styx.
The tower, center, at about the time it was topped off late last year. (Courtesy SkyShots Photography)
The newest addition to the downtown skyline recently hit a major construction milestone.
CoStar Group held a ceremonial topping off of its new 26-story office tower at 600 Tredegar St. by placing the final steel beam during at a private ceremony in late December.
Installation of the 750,000-square-foot skyscraper’s glass façade has also begun, showing yet another sign of progress on the first new-construction office building to rise in the city in recent years.
At 421 feet tall, it’ll second only the state’s 449-foot Monroe Building on 14th Street, but that building may soon be razed. Regardless, due to its topographic location, CoStar’s building is set to be the highest building in the air at 522 feet above sea level.
Construction on the tower got underway in late 2022 and is just over a year away from wrapping up. A CoStar spokesperson said work is scheduled to be completed in March 2026 and that the company will begin moving in a month later. CoStar currently has 2,300 employees in Richmond and the new campus will have capacity for 4,000, the spokesperson said.
The two new buildings are rising next to CoStar’s existing local office at 501 S. 5th St. (Mike Platania photo)
In front of the office tower will be a six-story building CoStar is calling “Foundry Park” that will include 15,000 square feet of restaurant and retail space fronting the water and Brown’s Island.
CoStar’s spokesperson said Foundry Park will have room for four or five restaurants with outdoor dining space, 80 parking spots and a promenade that’ll connect 5th and Tredegar streets.
Pickard Chilton is the development’s architect and Whiting-Turner is general contractor. CoStar declined to disclose the overall project cost. At the time of groundbreaking it was estimated to cost $460 million.
The building is rising on a four-acre plot that CoStar bought in 2020 for a then-record $20 million. The company announced the tower plans a year later.
CoStar’s tower isn’t the only major new addition to the riverfront, as work continues on the 7,500-capacity Allianz Amphitheater at Riverfront venue just to the west.
The new venue has been steadily announcing acts beginning this summer, including Dave Matthews Band, “Weird Al” Yankovic and Styx.
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Costar is still not a well known or understood name outside of the commercial real estate world. Although it also owns Homes.com and Apartments.com, both housed here in Richmond, its core business is its better known for its CRE research and its marketing arm, Loopnet.com. I first became familiar with CoStar and its founder Andy Florence back in the early 80’s in McLean when I received an invitation to a presentation he made to a group of real estate professionals hosted by NVCommercial’s Steve Cumbie and NVR Chair Dwight Schar. Florence said that his fledging company would soon have the… Read more »
Thanks for the explanation.
Great project for the city. Excited to see what materializes in the restaurant spaces. It is quite ironic however that CoStar declined to disclose the overall project cost.
I’d be surprised if it comes in less than $300 psf. Considering the glass and steel in the facades, and parking garage costs, maybe $400 psf. They are ahead of the curve in steel costs though.