Approximately 150 acres that were once part of Royal Virginian Golf Course were listed for sale last week for $1.8 million. The seller paid $750,000 less than a year ago.
The old shopping center is being cleared to make way for Springline at District 60, which is the newly unveiled name for the mixed-use development.
Georgia-based Flournoy Development Group must wait until next month to learn whether its six-story project at 3600 Grove Ave. will get a thumbs-up from the commission.
The downtown firm disclosed that it will “explore potential strategic alternatives focusing on maximizing stockholder value.” It said those alternatives could include a sale of all or part of the company’s assets, a joint venture, restructuring, or other transactions.
The investment firms closed Thursday on the nine-figure deal that purchased the Walthall Distribution Center near Chester and Northlake Distribution Center near Ashland.
The Henrico EDA paid $4.5 million for Saint Gertrude High School’s Outdoor Athletic Center, which is adjacent to the 200-acre GreenCity site.
The D.C.-based firm is returning to the neighborhood after three years in the Arts District, where it had been since 2020.
The city announced it is inviting formal proposals from four of the five respondents to its November solicitation for the redevelopment project that would replace the Richmond Coliseum with a mixed-use development and convention center hotel.
“You’re going to see a lot more development in that area,” said Doug Godsey, whose Varina-based Godsey Properties is driving the bulk of the new development that includes plans for a potential hotel.
The two sides became aligned in February 2022 when Jacobs acquired StreetLight Data from founder and Richmond native Laura Schewel.
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