Commercial Real Estate

“I can’t honestly tell you what it’s going to end up being,” said Richard Souter. “This rezoning just opens up our landscape of potential opportunities.”

Work is underway in the city on a pair of sizable multifamily developments that together will bring more than 450 new bedrooms to Scott’s Addition and the Museum District. 

RVA Diamond Partners, led locally by Thalhimer Realty Partners, recently secured millions of dollars in additional capital from multiple Richmond investors that it plans to put toward land and bond purchases for the project’s first phase.

The proposal is the developer’s latest pitch for a property that was previously going to be part of the $2 billion Shandong Tranlin Paper Co. production facility that never materialized.  

It was a busy night for the city’s Planning Commission on Tuesday, as it gave the thumbs-up to everything from a boutique hotel in the Fan, to a new Manchester apartment building, to a bridge replacement project near The Diamond. 

Taft-Mills Group, a housing developer that does most of its work in and around its home market of Greenville, N.C., is behind the 54-unit project.

The filing from Larry Shaia and Jesse Lennon, whose 55-and-up Summerlyn project was rejected in November, is at least the second in the past year from a residential developer challenging a Hanover vote.

This is not something that most small businesses plan for,” said one of the tenants. “There was no contingency plan in place and our work is not work that can be done remotely.”

The joint venture between VUU and Philadelphia-based Steinbridge Group would kick off the university’s recently released $500 million master plan.

Daniel Salomonsky said his mission is clear: to maintain what his father and the company have built over decades, and to shepherd its latest project to the finish line.