News

The Pipeline: Commercial Real Estate Round Up for 5.1.09

Thalhimer reports Kimages Wharf Associates L.C. purchased 800 acres of land on Route 5 in Charles City County from Creswick Management for $4.5 million as an investment. The farm land has 3,000 feet of frontage on the James River. Central Virginia Health Network leased 14,700 square feet at 4900 Cox Road in Henrico. Health Diagnostic… Read more »

Mixed-use development planned for Cary and Meadow

A mid-rise building for residential and retail use has been proposed for the northeast corner of Cary and Meadow streets in the Fan. A BP service station and coin laundry currently operate at the site, but West Cary Street Planning Committee chairman Ed Eck has produced a plan to build a three- to five-story residential… Read more »

Small biz owners seek SBA loan help

Bernie Katz, Robert White and Michael Bucci have something in common. They all own small businesses and have had difficult experiences with bank financing. That prompted them to show up for a Wednesday morning meeting to help small businesses survive the economic downturn. They were among about 60 small-business owners at the meeting at the… Read more »

Hotel bookings in the pits for race weekend

Hotels across the metro region have dropped rates to lure NASCAR fans to Saturday night’s race at Richmond International Raceway. But even at lower prices, hotel managers expect to have plenty of empty rooms. “Quite honestly, I think the economy has really impacted people’s decision to come to the race this year,” said Fritz Schwartz,… Read more »

Restaurants forced to chomp away at prices

Five is the magic number. First it was the $5 footlong at Subway. Now T.G.I. Friday’s is going on the offensive with its own $5 meal. Starting Monday, Friday’s will offer all salads and sandwiches for $5 during the month of May. These days, restaurants are using cheaper prices as a tool to take a… Read more »

VDOT cutting 230 jobs, 90 in Richmond

The Virginia Department of Transportation announced that it will lay off 230 employees throughout the commonwealth. The cuts go into effect June 6. Spokesman Jeffrey Caldwell said that 63 of the cuts are at the central office and that 27 cuts are in the Richmond district for a total of 90 positions in the area…. Read more »

Pontiac’s demise hits area dealerships

Richmond area Pontiac dealers are trying to figure out what the discontinuation of the once popular auto will do to their businesses. General Motors said Monday that it will stop making Pontiacs by 2010. This was part of the company’s reorganization plan to receive government assistance, which also includes the elimination of 21,000 jobs by the auto maker.

Chesterfield looks to cut development fees

Development in Chesterfield County is set to become less expensive, if the Board of Supervisors follows a recent recommendation by the planning department to cut fees. The Chesterfield Planning Commission voted unanimously last week to lower fees on residential, office, commercial and industrial conditional-use applications by more than 20 percent. The fees were raised in… Read more »

Monday Q&A: Looking for work is a full-time job

When Collins Denny held the first meeting of the Virginia Career Network in November, two people showed up. Now the group has more than 1,000 members registered between Meetup.com and Linkedin.com. The Virginia Career Network,  founded by Denny, a manager at the local information technology firm Leading Edge Systems,  and Deborah Gallant of Convergent Technology… Read more »