The 12-story freshman dorm at 801 W. Franklin St. has been closed since November 2021, when high levels of mold spores were detected in the building. It displaced more than 400 students.
The VCU professor and former Virginia governor discussed the report’s findings in a series of interviews with BizSense: “What it amounts to is the Board of Visitors has not done its job, the president has not done his job…and the people of Virginia are being ill-served,” he said.
The third-party review represents the first accounting of the aborted Public Safety Building project that has ended up costing the health system at least $80 million, including a $73 million project-exit payment.
City Council on Monday introduced legislation to allow the health system to access the city-owned property to begin the demolition, which is expected to cost $5 million.
While the health system remains on the hook for Richmond real estate tax payments that continue to come due, it’s unclear whether a new university-led project for the same site would align with the city’s desire to keep the downtown property taxable.
Local operators of a national childcare chain are expanding their business with two new locations on either side of Chesterfield County. Married couple and franchisees Charul and Raj Patel plan to open new Kiddie Academy outposts at 660 Watkins Centre Parkway near Westchester Commons shopping center, and at 731 Bermuda Hundred Road near Meadowville Technology… Read more »
As its health system juggles the fallout from a failed downtown development deal, VCU’s real estate division remains in deal-making mode with a new acquisition around its Monroe Park campus.
The average full-time in-state undergrad will pay about $16,200 per semester, but the university will still have a nearly $60 million budget gap for the coming school year.
The known cost for the health system to walk away from the project on the site of the city’s Public Safety Building appears to be closer to $80 million – and could end up being higher.
“With this amount, how many students are robbed of attending VCU in scholarships? Most importantly, what actions are being taken to ensure that enormous wastes like these are prevented in the future?” Wilder said in Tuesday’s press conference.