In 2004 Richmond’s historic Shockoe Bottom was devastated by Hurricane Gaston. Drainage systems malfunctioned and overflowed, and floodwater ran freely through the streets causing extensive damage to businesses. Four years later, the area is showing a few signs of recovery, but the vacancy rate hovers above 20%. Turnover in restaurants and bars is high.
Commercial Real Estate
A Tale of Two Broad Streets
The farther east you walk down Broad Street and away from VCU, the more beat up and empty it gets. There are “For Sale” signs, “For Lease” signs, and signs simply marked “Closed.” Some buildings are boarded up with plywood, others with construction paper and tape. And that’s a significant improvement from even a few… Read more »
Coming spring 09: Boulevard Movie Theater
A new movie theater on North Boulevard in Richmond will be showing flicks in early 2009, according to a mondo banner that went up this week. Bow Tie Partners, the NY-based developer, is calling the project Boulevard Square. The theater is slated to be called Movieland. It will be the only theater in the City… Read more »