Virginia Business announces Top Projects/Real Estate Deals awards

In July, Virginia Business will introduce its inaugural Virginia Top Projects & Real Estate Deals recognition program, honoring the innovative buildings, facilities and transactions reshaping Virginia’s landscape. (Applications are due April 17 and can be submitted at virginiabusiness.com/event/top-projects/.)

Top Projects will spotlight the best building and construction projects delivered in Virginia during 2025 across key commercial and institutional categories, including office, medical, multifamily and education developments, while Real Estate Deals will recognize significant transactions shaping the commonwealth’s commercial real estate market.

The statewide program will recognize not only project owners, but also the contractors, architects, engineers, interior design firms, brokers and other professionals who helped bring these projects and deals to life.

The awards launch at a time when construction activity remains a significant force in the commonwealth’s economy. Virginia’s construction workforce totaled about 229,500 workers in mid-2025, up roughly 10,100 jobs (5%) year over year, according to an Associated General Contractors of America industry fact sheet.

Industry demand also remains strong nationwide. Sixty-three percent of contractors expect to add workers in 2026, according to the 2026 Construction Hiring & Business Outlook survey released by AGC and technology firm Sage.

Growth in specialized construction sectors is helping drive that demand. In the same survey, 65% of contractors said they expect the data center construction market to expand, while energy and power projects were another area where firms reported rising optimism.

Virginia is particularly well positioned to benefit from those trends. The commonwealth hosts one of the world’s largest concentrations of data centers in Northern Virginia, while a growing pipeline of advanced manufacturing, health care and education projects continues to generate construction activity statewide.

Large-scale manufacturing investments are helping drive billions of dollars in new development. In 2025, Eli Lilly announced a $5 billion manufacturing campus in Goochland County, while AstraZeneca unveiled a $4.5 billion life sciences investment in Albemarle County and Merck began construction on a $3 billion pharmaceutical manufacturing facility in Rockingham County.

Health care and institutional projects are also fueling activity across the state, alongside continued investment in schools and higher education facilities.

Together, these developments — along with the transactions that support them — reflect the wide range of projects transforming communities across the commonwealth.

Through the Top Projects & Real Estate Deals program, Virginia Business will recognize the projects, deals and teams helping shape Virginia’s built environment and drive economic growth.

Apply now at virginiabusiness.com/event/top-projects to ensure your project or deal is recognized.