Commercial Real Estate

GVA Advantis closing some Virginia offices

The Richmond office of the commercial brokerage firm GVA Advantis apparently has escaped the ax. On Monday the company said it will close offices in Newport News and Northern Virginia. And unlike at the Norfolk office, where brokers have left for other firms, GVA’s Richmond brokers are staying put — for now.

Just around the corner

Development of the next retail complex at Short Pump is back on schedule.

More Manchester mojo

New Manchester Flats is Fountainhead’s latest project, located at Gordon Avenue and East Seventh Street.

When finished, it will represent a $35 million investment and add about 175 residential units to the area. The development is partly financed by historical tax credits, as well as New Market tax credits (for development in low-income areas).

Wrecking ball takes aim at former hotel

One of Richmond’s first modernist hotels might soon be demolished to make way for a mixed-use center, including residences for adults with developmental disabilities.

VCU retail struggles to take hold on Broad

The rapid growth of VCU attracted a number of new businesses hoping to cash in on the expanding student body. But apparently students are a fickle bunch: Several businesses around campus have shuttered their doors in recent months, including Cuppa Tea and Common Groundz.

Tougher runoff standards would slow growth

The state is seeking to reduce the amount of phosphorous runoff allowed by new developments, a measure that could limit the scope of new construction projects if it becomes law.

More residential units coming in Manchester

The almost century-old Acme Paper warehouse in Manchester is being converted into a $6.5 million, 70-unit complex called Perry Place Apartments. The historic renovation joins a growing list of redevelopment projects in the Southside neighborhood and is expected to be ready for residents by the end of summer.

Developer withdraws from Hanover project

A Washington developer has pulled out of its commitment to buy and develop 36 acres near Bass Pro Shops in Hanover County. So far, the boat and fishing store is the only structure. But outlet shopping is still on track.