The transaction with Altria subsidiary Philip Morris closed three months later than originally scheduled, and the same week that VCU received approval from Gov. Youngkin to buy Altria’s downtown research building.
“I’m quite confident it will be in litigation very shortly,” said Bill Leighty, recently dismissed from the VCU Wilder School, of the dispute between VCU Health and Richmond over the payments stemming from a failed development project.
Mayor Danny Avula presented his administration’s $3 billion spending plan, which would maintain the current real estate tax rate and increase general fund spending by 5.5% over the current budget.
After finding the project’s original developer in default, Henrico “is eager to attract a new partner or partners that are proven, competent and capitalized to deliver on what’s clearly a once-in-a-lifetime development opportunity.”
Ryan Homes has started construction on Fairways, the 290-home redevelopment of the former public golf course by local development firm Godsey Properties.
Gov. Youngkin said Monday he is vetoing language that legislators put into the state budget to allow Henrico to hold a referendum on the controversial project, which is already underway.
Mayor Danny Avula and other officials took a tour Thursday morning of the under-construction CarMax Park, which is approaching its topping-off point for steelwork for the stadium.
McShay Communities has started going vertical on Kings Park, a 20-lot subdivision a couple miles east of Chesterfield County Airport. The 30-year-old firm is expanding from Alexandria.
A holdout among the sprawl between Short Pump and Wyndham, the 9-acre site along Pouncey Tract Road has been under the same ownership since 1980, when it was last purchased for $22,000.
The $5.2 million payment was officially due Feb. 28, but a purchase agreement for the massive arena-anchored development allowed a 10-day cure period that expired Thursday at midnight.
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