Demolition work has begun at the former N. Chasen & Son complex, where a trio of connected 7-story buildings totaling 352 apartments will become one of the largest new apartment developments in the neighborhood.
The known cost for the health system to walk away from the project on the site of the city’s Public Safety Building appears to be closer to $80 million – and could end up being higher.
The project on Jacque Street would add to the more than 1,000 apartments in the queue for the burgeoning Westwood area, which Henrico County has been positioning for growth in recent years.
“With this amount, how many students are robbed of attending VCU in scholarships? Most importantly, what actions are being taken to ensure that enormous wastes like these are prevented in the future?” Wilder said in Tuesday’s press conference.
Walter Parks, Richard Smith and Malcome Sargeant are behind the 42,000-square-foot structure that would replace a trio of derelict buildings at the corner of Hull and West 14th streets.
VCU Health revealed the payment Friday in response to a FOIA request from BizSense. The payment let the health system back out of the project and the 25-year lease it signed months into the pandemic.
Local engineering giant Timmons Group plans to relocate its corporate headquarters to Springline at District 60, where it is donning its developer cap for the first time.
Amid a changing market for how art house and independent films are viewed, the owner of Movieland at Boulevard Square is looking to convert the complex’s Criterion Cinemas building into a new use.
The project’s expanded tax increment financing area includes multiple properties owned by Thalhimer Realty Partners, the local firm that’s helping lead the $2.4 billion mixed-use development.
The payment was quietly made to Project 10th Street Owner LLC, tied to Oak Street Real Estate Capital, which was handling financing for the project for developer Capital City Partners.
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