After receiving two offers on city-owned properties once tied to the failed Navy Hill project, Richmond administrators are delaying a proposed surplus-property designation as they plan to rework it around one of those offers in particular.
An unbuilt infill apartment project that’s been years in the making near Virginia Union University is being shopped around to firms that could take the development vertical.
Enjoy these highlights and the best soundbites from this week’s BizSense Assembly episode, which focused on the state of commercial lending in the midst of coronavirus and how the loan pipeline could be affected going forward.
As development interest continues to pick up along Richmond’s bus rapid transit line, city planners are looking to keep their finger on the pulse with another round of zoning changes, this time in the area across Broad Street from the Fan.
The first phase of one of the biggest residential developments to come to the county is beginning to take shape off Route 288 beside Capital One’s West Creek campus.
Unexpected, unsolicited offers and fallout from the pandemic has landed a Manchester multifamily project on the back burner.
A top-floor penthouse unit in the heart of a West End condominium complex out-sold all other local residential real estate transactions in April, according to the Central Virginia Regional Multiple Listing Service.
“If you don’t stay three to five years ahead, you’re behind,” said Richard Smith, who partnered with Tom Papa and Walter Parks on the deal.
“It’s still a 1956 Oldsmobile. Sometimes you have to just buy a new car.”
“Multifamily (housing) weathers recessions really well, especially B-grade multifamily, and that’s what we do.”
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