Following on the success of the Whole Foods and CarMax-anchored first phase, Sauer Properties is looking to effectively build a new neighborhood from scratch in the next leg of its Sauer Center development in the city.
Fresh off opening The Park RVA entertainment venue, Michael & Son President Basim Mansour is now looking to Old Town Manchester for his next project.
Located at the corner of East Franklin and North Sixth streets, the existing building has fallen into disrepair in recent years.
On the heels of the Shockoe Small Area Plan being released, a chunk of Shockoe Valley is being teed up for redevelopment.
Parc View at Commonwealth, a 15-story, 168-unit apartment tower at 321 W. Grace St., is scheduled to be completed by next spring.
A changing of the guard has played out at the publicly traded Richmond real estate firm after months of pressure from shareholders and years of plummeting stock prices.
“We’re in a fluid position right now. If it doesn’t sell we’re still moving forward with the process,” for the gardens project, owner Arlene Simmons said.
“I believe over time, (the site) will want to be developed. We like what’s going on there and we believe in the future of that area,” CEO Neil Amin said of the 15-acre wooded plot near Meadowville Technology Park.
A local developer is further expanding his footprint in the Eastern Shore town, the latest in a line of Richmond business people dipping their toes into that part of the Chesapeake Bay.
The announcement appears to be a sign that the company’s board has taken to heart at least some of the concerns expressed in recent months by shareholders, some of whom went public with their grievances.
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