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Recent Articles from Katherine Schulte
Va. hotel revenues down 19% from Nov. 2019 levels
Virginia hotel revenues in November were 19% below November 2019 levels, according to data released Wednesday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, hotel rooms sold decreased by 12% compared with 2019 levels. The average daily rate (ADR) paid for hotel rooms […]
47 mixed-use parcels in Richmond sell for almost $22M
Seven bundles of properties totaling 47 parcels in Richmond sold for almost $22 million, Commonwealth Commercial Partners LLP announced last week. The mixed-use properties are located in Richmond’s Fan District and consist of retail, office and restaurant space, as well as about 24 apartments and 267 parking spaces. Richmond-based Eck Enterprises LLC sold the properties […]
Homes inventory declined sharply last month in Va.
Virginia’s inventory of homes continues to decline, but buyer demand remains high, according to a report released Tuesday by Virginia Realtors. At the end of November, there were 16,242 active listings across the commonwealth, nearly 25% fewer than the same time last year. The rate of decline in homes on the market slowed down over […]
Virginia Beach, Manassas apartment complexes sell for $77.6M
An apartment complex in Virginia Beach sold for $52.1 million, and an apartment building in Manassas for $25.5 million, Alexandria-based real estate company Bonaventure announced Monday. Sitting on 19.83 acres, Magnolia Run is a 200-unit, 421,272-square-foot apartment complex in Virginia Beach with two- and three-bedroom units, a pool, 24-hour fitness center, playground and clubhouse. Bonaventure [...]
EVMS, ODU and Sentara sign health center agreement
Eastern Virginia Medical School, Old Dominion University and Sentara Healthcare entered into a memorandum of understanding Friday to work toward a collaborative academic health center. Officials from each institution will cooperate to improve health care disparities in Hampton Roads and to seek more consistent funding of EVMS from public and private sources, leaders said at […]
Va. unemployment rate dropped to 3.4% in November
In November, Virginia’s unemployment rate fell to 3.4%, 0.2 points below October’s rate, marking 18 straight months of declines, Gov. Ralph Northam announced Friday. In November 2020, the jobless rate was 2.4 points higher than last month. The labor force increased by 2,706 to almost 4.26 million, and the number of unemployed residents decreased by 8,627 […]
Q&A: Quebec official discusses Va. trade mission
Quebec’s delegate general in New York, Martine Hébert, visited Virginia this week on a trip to strengthen economic relations between her province and the commonwealth. Appointed in August by Quebec Premier François Legault and based out of New York, Hébert is responsible for promoting the province’s economic interests in the mid-Atlantic region. She previously served […]
Cvent goes public again
Tysons-based event software company Cvent Holding Corp. began trading on the Nasdaq Global Market Dec. 9 after closing its merger the day before with San Francisco-based SPAC Dragoneer Growth Opportunities Corp. II. The move is Cvent’s second time going public. In 2016, Vista Equity Partners acquired it for $1.65 billion and took it private. The […]
Southwest Va. project will help manufacturers enter wind energy supply chain
Public-private campaign InvestSWVA announced Tuesday the launch of an economic development initiative designed to help Southwest Virginia manufacturers find entry points in the supply chain for wind energy equipment components. The initiative, called Project Veer, will connect Southwest Virginia manufacturers with industry experts, public sector partners, the Hampton Roads Alliance, Dominion Energ[...]
Two Va. projects are finalists for $100M U.S. EDA grants
Two Virginia projects — one to make Central Virginia an advanced pharmaceutical manufacturing hub and one to support the transportation and logistics cluster in Southern and Southwest Virginia — are two of 60 finalists for the U.S. Economic Development Administration’s Build Back Better Regional Challenge, which will provide awardees with up to $100 million each. […]
