FHA rules, oversupply and looming shadow inventory are among the obstacles facing Richmond condo developers
Commercial Real Estate
Shockoe apartments heading to auction
A Shockoe Bottom apartment complex is scheduled to be auctioned on the courthouse steps Feb. 9.
Rain delay for storm water rules
New rules on how builders must account for runoff that eventually flows into the Chesapeake Bay will have to go through another comments period. The development community has resisted the new standards, which they say will make costs prohibitive just as the industry is trying to recover from the recession. The rules are intended to reduce pollution in the Bay.
Commercial broker flies solo
A Henrico-based commercial real estate firm is shedding its national brand and starting from scratch.
Blockbusted
Another Richmond movie store goes the way of the VHS.
The Pipeline: Commercial Real Estate Round Up for 1.8.10
Vulcan Materials Company leased 12,360 square feet at Ironbridge Commons, 5601 Ironbridge Parkway in Chesterfield. Allied Pallet Company leased 26,190 square feet at 1401 Ingram Street in Richmond. P. T. O’Malley Lumber Company, Inc. purchased a 156,485-square-foot manufacturing facility on 92.58 acres in Essex County for $1,250,000. A ton of other deals this week.
200 more apartments coming to Shockoe Bottom
The project had been in the planning and financing stages for about three years, but the development company just closed on the property about two weeks ago.
Two apartment complexes sold in Henrico
Capreit, a Maryland-based owner and operator of apartment properties, recently sold off two large complexes in Henrico.
More wide open space for outdoors shop
A Virginia-based outdoors gear and apparel shop is upping its game now that a national chain has come to town. It’s also likely opening a local outlet concept where customers can also order online while in the store.
Bowling complex coming to Chesterfield
You’ll know the new entertainment complex off Hull Street Road by the giant bowling pin on the roof. No confusion there. Plus, several other commercial real estate updates from Chesterfield.