Investor Loop Capital is no longer involved in the mixed-use portion of the ballpark-anchored project, leaving Thalhimer Realty Partners the lone lead developer amid a $40 million lawsuit from former teammate Republic Properties.
“We’re restoring the ceilings and returning the wood floors to the look and appearance of the original manufacturing (facility),” said the developer. “There’s a real sensitivity in bringing it back to what it was.”
The new plan scales down the planned apartment buildings on Overbrook Road from six stories to four with 31 fewer units between them. The 1930s-era hospital building also would be fully preserved and repurposed.
The 1 million-square-foot mall off Midlothian Turnpike dates back to the 1970s and most recently changed hands in 2013.
The Richmond EDA, which owns the century-old building, is looking to field proposals that would see it restored or renovated, not demolished.
Chris Harrison, a former UVA and NFL football player and principal of Maryland-based C.A. Harrison Cos., was indicted this week on embezzlement charges involving the Model Tobacco project and an aborted rehab of the former Ramada Inn in Petersburg.
“While we were demoing it, our team came to the leadership and said, ‘This would be a great office. We should look at leasing this,’” DPR’s Emily Covey said of the former ECPI building.
Allianz Partners, which has a major office presence locally and provides event ticket insurance through venue promoter Live Nation, was announced as the title sponsor for the now-named Allianz Amphitheater.
“Within commercial real estate, this asset class is oftentimes labeled as recession-resistant. It performs well in up markets and also performs well in down markets,” developer Nitesh Sapra said.
The apartments are a change from Landmark’s original plan that called for townhomes on the site behind the commercial section.
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