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$98M Richmond apartment building to break ground in Q3
A $98 million luxury apartment building, The Ace Apartments, will be the newest addition to Richmond’s Scott’s Addition neighborhood. The 1.7-acre project will have 295 luxury studio, one- and two-bedroom apartments that will average 753 square feet per unit, and 85% of the units will have balconies. The development‘s plans also call for a 7,500-square-foot […]
Chesterfield County kicks off $210M mixed-use project
Chesterfield County officials began demolition Tuesday of the former Best Products Co. Inc. building in the Spring Rock Green shopping center to clear the way for the $210 million first phase of the Springline at District 60 mixed-use development. The 42-acre first phase of the project, located on Midlothian Turnpike off Chippenham Parkway, includes a […]
Divaris Group acquires N.C. mixed-use leasing, advising firm
Virginia Beach-based Divaris Group has acquired North Carolina-based real estate planning, advisory and leasing firm The McGarey Group, the firm announced Friday. Financial terms and other details of the acquisition were not disclosed. The McGarey Group, led by President and CEO F. Denver McGarey, is now operating within Divaris Advisory, a division of Divaris Group. […]
Richmond seeks developers for Coliseum property
Two Richmond city authorities issued a request for interest Thursday to redevelop the area surrounding the Richmond Coliseum into a hotel-anchored mixed-use development, the City Center Innovation District. Owned by Richmond’s economic development authority, the 9.4-acre property includes the shuttered Coliseum and other structures that were part of the failed Navy Hill development proposal.[...]
Surf’s up for Chesterfield’s The Lake
It took a lot to make The Lake happen. Developer Brett Burkhart had to nail down $323 million in financing, obtain a slew of permits and get Chesterfield County to offer performance grants or tax rebates. That took seven years, but he finally got it done, and clearing is underway on the 105-acre site on […]
UPDATED: Richmond picks Diamond District development team
Updated Sept. 15 The city of Richmond announced Monday it has selected a joint venture including Richmond-based Thalhimer Realty Partners to build a new baseball stadium for the Richmond Flying Squirrels, as well as a mixed-use development surrounding the stadium, revitalizing the area into a new neighborhood to be known as the Diamond District. The […]
Diamonds in developers’ eyes
Standing near the grand entrance of upcoming entertainment venue and food hall The Park at RVA, Orcun Turkay says he’s excited for the future of Richmond’s newly branded Diamond District. He calls it “Scott’s Addition 2.0,” referencing the trendy adjoining neighborhood. Exact plans for the Diamond District, which will include a replacement for the city’s […]
Norfolk’s Military Circle Mall headed for wrecking ball
Norfolk’s Military Circle Mall will close by the end of the year to make way for its demolition in the first quarter of 2023. The decision to close the mall came after Norfolk Economic Development Authority members toured the aging facility on Wednesday, Norfolk Economic Development Director Jared Chalk told Virginia Business. EDA members voted […]
Mixed-use Richmond building sells for $5.7M
A mixed-use building in Richmond sold for almost $5.73 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Tuesday. Located at 1508 through 1510 W. Broad St., the 1510 Lofts has 10,600 square feet of retail and 17 one- and two-bedroom apartments that are 100% leased. Foot Locker leases 44% of the ground floor. […]
A diversified portfolio
In a city where tourism reigns, nothing could be more welcome than a post-pandemic world. And though we’re not quite there yet, Virginia Beach is licking its chops over the prospect of maskless visitors pouring into town. The city, with fingers crossed in hopes that new coronavirus variants don’t arrive before the tourists do, is […]
West Falls Church on track for $1.2 billion transformation
Developers are expected to break ground this month on the first of three mixed-use projects near the West Falls Church Metro station with a total investment of about $1.2 billion. Each piece comes together to complete a puzzle that will transform about 40 acres of vacant land, parking lots and Virginia Tech’s Northern Virginia Center […]
Skanska tops out mixed-use building in McLean
Heming at 1800 Chain Bridge Road, a 28-story mixed-use building in McLean, has now been “topped out,’ Skanska announced March 23. Representatives from Skanska, CallisonRTKL, IMEG Corp., and Skanska’s construction partners commemorated the construction milestone by signing a steel beam and placing it at the highest structural feature of the building, a celebration referred to [...]
