Dominion Energy plans to raze a 15,000-square-foot auxiliary building at 2501 Grayland Ave., which is part of the nearly 5-acre assemblage of land that the company is under contract to sell for a future redevelopment.
As it fends off public criticism from some vocal shareholders, a local publicly traded real estate firm is employing a new tactic to get its share price out of the doldrums.
“I have yet to see where a parking requirement has actually solved the issues and concerns about parking,” Andreas Addison said before Monday’s vote. “We can require developers to build parking, but we cannot require people to park there.”
In an interview Monday, officials said the soonest that shovels could get in the ground would likely be early next year, meaning the $2.4 billion project’s centerpiece baseball stadium could not be completed before a 2025 deadline.
“We feel there’s a growing scarcity of industrial properties, especially within the urban ring,” Noll said. “It’s the not-pretty side of real estate.
The plans come as the health system is putting the finishing touches on an expansion project at its Mechanicsville hospital and while its competitor HCA works to open a new hospital nearby.
Bailard, Inc. a San Francisco-based investment firm, is the new owner of the 350,000-square-foot facility, which was built last year by Red Rock Developments and Westport Capital Partners.
Class is now in session at Regency, as the Henrico County school division’s new adult education center at the mall held its first GED and English-as-a-second-language classes last week.
The regional food bank paid seven figures for the 9-acre site on Villa Park Drive, where it’s planning a new $40 million facility to replace its current headquarters near The Diamond.
After neighborhood feedback the developer tweaked the design, which reduced the number of apartments from 260 to 253, and the number of parking spaces from 335 to 330.
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