Area architecture firms are not immune to the effects of the changing business climate amid the coronavirus pandemic, particularly those that do business in the hard-hit hospitality industry.
Commercial Real Estate
While many local restaurants have closed abruptly during the coronavirus downturn, one Richmond restaurant group quickly reopened an outpost in Scott’s Addition it had closed when the economy was stronger.
A Shockoe Bottom eatery has tapped out permanently, while its sister restaurant in the West End continues cooking.
The brewery has sold its other Ownby Lane property to Spy Rock, which plans upwards of 200 residences on the surrounding parcels. And Hardywood says the extra cash will help it weather the coronavirus storm.
A residential real estate team backed by an online brokerage has found a brick-and-mortar home in western Henrico, less than a mile from where a new player in the market is planting its own flag near Short Pump.
The bank will trade digs downtown in favor of a from-scratch, 25,000-square-foot building on land it just purchased near the airport.
Auctions are continuing this week on a chunk of embattled businessman Michael Hild’s portfolio of Manchester properties.
The deal amounts to just over $1 million per acre, and gives the school part of the land it needs for its planned athletic village. Meanwhile, it’s decided to pump the breaks on its $16 million emergency room in New Kent County.
A lot of otherwise run-of-the-mill tasks are proving to be trickier than usual in the age of coronavirus. That apparently includes closing on a mortgage.
More than 200 new apartments are being eyed at Rocketts Landing, after the riverfront neighborhood’s developer filed plans days before the coronavirus pandemic swept the nation.