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redevelopment

Coworking hub for entrepreneurs opening in Harrisonburg
Nov 18, 2022

Coworking hub for entrepreneurs opening in Harrisonburg

The brains behind the Staunton Innovation Hub are working on bringing a new hub to a new city: the $4.5 million Harrisonburg Innovation Hub is expected to open in late 2023, investors and partners announced Tuesday. Harrisonburg “has a very vibrant and growing startup ecosystem in place already, and there’s just a need for it […]

Richmond seeks developers for Coliseum property
Nov 3, 2022

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.[...]

Thalhimer buys Diamond District properties for $4.6M
Nov 3, 2022

Thalhimer buys Diamond District properties for $4.6M

TRP Hermitage LLC, an entity connected to Richmond-based Thalhimer Realty Partners Inc., has purchased two industrial properties near The Diamond baseball stadium in Richmond for $4.6 million, S.L. Nusbaum Realty Co. announced Thursday. It was an off-market deal, according to Thalhimer. The plots — 0.735 acres at 1701 Rhoadmiller St. and 0.978 acres at 2508 […]

Norfolk city government acquired the unsuccessful Military Circle mall in 2020 and is seeking bids to redevelop it into a walkable, live-work-play community. Photo by Mark Rhodes
Aug 3, 2022

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 […]

Kate Pittman (L) is executive director of the nonprofit that promotes and supports Virginia Beach’s ViBe Creative District, the trendy area co-founded by Andrew Fine and Laura Wood. Marked by colorful murals and artwork, the district features a mix of art galleries, retailers, coworking space, restaurants, breweries and coffee shops. Photo by Mark Rhodes
Jul 28, 2022

Creating community vibes

In Virginia Beach, most tourists flock to the Oceanfront. But just a couple blocks west, you’ll find an area that feels a little more artsy and a lot more local. In the 15-block ViBe Creative District, situated between the Virginia Beach Convention Center and the Oceanfront, coffee shops and restaurants operate out of former industrial […]

Two years after the closing of the Central Virginia Training Center, its site in Amherst County will soon be available for private development. Photo by Parker Productions
Jul 28, 2022

CVTC property inches closer to redevelopment

Once home to more than 3,600 people with intellectual disabilities and other conditions, the Central Virginia Training Center property in Amherst County is drawing closer to a different future. In June, Gov. Glenn Youngkin signed into law the latest state budget, which removed $25 million in tax obligations from the 350-acre site, making it more […]

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Jul 6, 2022

Va. receives $22.7M to reclaim abandoned mine lands

The Virginia Department of Energy will receive $22.7 million in federal funding toward redeveloping abandoned mine lands across the commonwealth, Gov. Glenn Youngkin announced Wednesday. The funding is aimed at redeveloping the sites so that they can be used to attract new development and job opportunities to the region. Handled through Virginia’s Abandoned Mine Lands […]

Henrico assisted living facility to become affordable housing
Jun 3, 2022

Henrico assisted living facility to become affordable housing

Construction started this week on a $23 million project that will create 86 units of affordable housing in eastern Henrico County, Virginia Supportive Housing announced. Formerly an assisted living facility, Cool Lanes Commons, on the border of Richmond and Henrico, will create 80 one-bedroom apartments and six studio apartments for homeless and low-income people in […]

Lambert’s Point Docks in Norfolk to become $100M maritime center
May 5, 2022

Lambert’s Point Docks in Norfolk to become $100M maritime center

In a deal predicted to bring more than 500 jobs and over $100 million in capital investment, the Lambert’s Point Docks property in Norfolk will become a maritime operations and logistics center to support local offshore wind, defense and transportation industries. The land, owned by Norfolk Southern Railway Co., has been leased by Virginia Beach-based […]

Richmond marketing Diamond property for redevelopment
Jan 3, 2022

Richmond seeks developers for Diamond District

The city of Richmond issued a request for interest on Dec. 28, 2021, seeking developers for the 66.7-acre Diamond baseball stadium property it has dubbed the Diamond District. The city plans to demolish the stadium and construct a new multipurpose one that the Richmond Flying Squirrels will share with Virginia Commonwealth University’s baseball team near […]

Franklin Johnston Group plans Va. Beach apartments
Dec 28, 2021

Franklin Johnston Group plans Va. Beach apartments

The Franklin Johnston Group, based in Virginia Beach, has purchased a 37,500-square-foot industrial building in Virginia Beach with plans to redevelop it into apartments. The building, which sits on 9.44 acres at 925 S. Military Highway, was sold by Wildwood Park LLC for $4.75 million. Robert M. Thornton of Cushman & Wakefield | Thalhimer represented […]

Va. Beach’s Pembroke Mall to add apartments, senior living and hotel
Nov 16, 2021

Va. Beach’s Pembroke Mall to add apartments, senior living and hotel

Pembroke Mall in Virginia Beach is getting a $200 million makeover. The aging mall’s developers, Pembroke Square Associates, announced plans Monday for a series of updates to the 54-acre mall near the city’s Town Center area. “The mall industry is changing,” said Ramsay Smith, president of Pembroke Realty Group, asset manager for Pembroke Mall. “We […]

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