We’ll know soon enough how long Justin French will spend in prison — what’s less clear is how long it will take Richmond to clean up his mess. For now, the state Department of Historic Resources is taking steps to prevent future abuse of its tax credit program.
Commercial Real Estate
Pipeline: Commercial Real Estate Round Up for 1.14.10
Top Gun Motor Sports leased 10,000 square feet at 10471 Cobbs Rd in the City of Ashland. Plus Boushra Mikhael purchased 7,980 square feet at 15 & 23 W. Clopton Street in Richmond from BB&T for $100,000
Internet sweepstakes like their odds
In the face of skepticism and on shaky legal ground, controversial Internet cafes continue to roll the dice and open locations in storefronts across Richmond.
Former halfway house gets its own second chance
An abandoned dormitory on West Grace Street is getting an apartment makeover.
Real estate firm finds new home
Snipes Properties had been displaced by the wake of foreclosures left by developer Justin French.
Banks go after one another in French fiasco
Two more Virginia banks are trying to recover millions squandered on incomplete historic renovations by Justin French. Only this time the banks didn’t lend directly to French.
‘We are continuing to sign leases’
A Chesterfield shopping center is adding a handful of big chains, including Dick’s Sporting Goods and 5 Below.
Broad Street demo plans on hold
It has been more than two years since the CommonGroundz coffee shop closed, and the space has sat vacant, aside from the apartments upstairs.
More foreclosures in French’s portfolio
Another bank is foreclosing on some of developer Justin French’s property, and it could leave the tax credit investor in the lurch.
Do you have the receipt?
Despite having a profitable year so far, the owner of Regency Square has decided to stop paying its mortgage on the West End mall.