With a $40M lawsuit hanging over the Diamond District, BizSense analyzed emails and court filings to learn how it came to be that two of the three firms that once led it stepped away from the $2.4B development. This is Part 1 of a two-part series.
Both complexes were originally constructed by local developer Guy Blundon. The per-door price for the properties were $248,000 and $253,000.
A cloud of sadness hangs over the recent sale of a downtown building, as the group that sold it found out one of their partners had passed away just days after the deal closed.
Though its landlord insists the lease has ended, Performance Food Group isn’t leaving its sizable Henrico warehouse without a fight.
The firm plans to break ground in mid-2025 on a 12-story Hilton with more than 270 rooms that will be built as part of the redevelopment of the former Spring Rock Green shopping center.
The 6-acre site sold for $3 million per acre and is planned for a 388-unit, 7-story apartment building next to the cinema complex.
The century-old house, originally built blocks away in the late 1700s, was purchased by a local developer two years ago and has been deemed by the city as unsafe.
“The office market is not ready for new construction, so we’re thinking about ways we can repurpose that land to make sure the Innsbrook community has another amenity,” said Highwoods’s Jane DuFrane.
The site is about half the size of the publicly traded company’s 142-acre campus in Northern Virginia, where five data centers are operational and four more are planned.
“I think getting the buildings demoed will be a real plus for the community,” said local developer Steve Leibovic, adding that demolition is expected to be completed by year’s end.
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