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Dominion sets net-zero carbon goal by 2050
Richmond-based Dominion Energy Inc. announced Tuesday a new goal of achieving net-zero carbon dioxide and methane emissions from its electricity generation and gas infrastructure operations by 2050. The new benchmark significantly raises the stakes for Dominion, which announced in October 2019 plans for reaching 80% carbon reduction by 2050. The company previously committed to cut […]
Richmond’s $1.5B Navy Hill project is dead
Richmond City Council on Monday formally killed the $1.5 billion Navy Hill proposal, with seven of nine members voting to strike several elements of the plan from the council’s consent agenda. After the vote, council members passed a resolution that Richmond Mayor Levar Stoney start over with a request for proposals to develop the area […]
VCU Health proposes medical complex as part of Navy Hill project
The $1.5 billion Navy Hill project — as proposed — may be killed next Monday by Richmond City Council, but that hasn’t stopped Virginia Commonwealth University and other heavy hitters from making economic development announcements in an effort to salvage the controversial project. VCU Health System announced Tuesday that it would build a complex in […]
Virginia ABC breaks ground on $91M HQ in Hanover County
Gov. Ralph Northam led a groundbreaking ceremony Tuesday for the Virginia Alcoholic Beverage Control Authority’s $91 million state headquarters complex in Hanover County, expected to open next year. Virginia ABC’s existing warehouse in Richmond is just more than 295,000 square feet, but is operating at 100% capacity and “bursting at the seams,” said Virginia Secretary [&hel[...]
Richmond and Seattle moving companies merge
Richmond-based WayForth, a home moving management service, has merged with Seattle’s Livible, which provides on-demand moving and storage services. The merger of equals was announced Tuesday, and the combined companies will be known as WayForth Inc. and will have more than 400 employees. WayForth co-founder Craig Shealy remains CEO of the new business, and Livible […]
Casino operators go head-to-head in Bristol and Richmond
Casino operators are already maneuvering into position as they wait for state legislators to legalize gaming. The stakes are high, and in at least two regions multiple operators are competing to cash in. In Richmond, the Pamunkey Indian Tribe has announced a $350 million casino within city limits, while the Colonial Downs Group and parent […]
Richmond International Airport broke passenger record in 2019
Richmond International Airport (RIC) handled a record 4.3 million passengers in 2019 — a 7.4% bump from 12 months ago. In December 2019, RIC had a passenger traffic count of 381,767 — 12.7% more than December 2018. It was the 27th month in a row that the airport has reported record traffic. Southwest Airlines Co., […]
Richmond-based investment nonprofit to manage $33M guarantee pool
Richmond-based LOCUS Impact Investing, a subsidiary of Virginia Community Capital, will manage a newly formed $33.1 million national guarantee pool to encourage community development, according to a press release Tuesday. The Community Investment Guarantee Pool has $33.1 million in unfunded guarantee commitments from the endowments of 10 philanthropic organizations, which help mitigate investment [...]
Matrix Capital Markets Group adds two directors
Richmond-based independent investment bank Matrix Capital Markets Group Inc. has promoted William J. O’Flaherty and Stephen C. Lynch as directors. O’Flaherty has been a member of the investment bank’s consumer and industrial products group since 2011. He holds a bachelor’s degree in commerce with a concentration in finance from the University of Virginia’s McIntire Sc[...]
Williams Mullen taps new chief admin officer and CFO
Richmond-based Williams Mullen, the state’s third-largest law firm, has promoted Billie Jo Brooks to chief administrative officer and Brett Harn as chief financial officer. “Billie Jo and Brett both bring valuable experience and insight to areas critical to Williams Mullen’s operations,” Williams Mullen COO Craig Rascoe said in a statement released Thursday. “We look forward [&he[...]
Developer expects to break ground soon on luxury apartments in Richmond
Construction will start this spring on a six-story luxury apartment building in downtown Richmond geared toward young professionals, New York-based developer Goodstein Development Corp. announced Thursday. Goodstein plans to break ground at 507 E. Main St. in the next two months and complete the project by spring 2021, according to its press release. To be […]
Pamunkey Tribe proposes $350M casino in Richmond
Updated at 4 p.m. Friday The Pamunkey Indian Tribe has proposed a $350 million, 275-room resort hotel and casino in Richmond, the tribe announced Friday as the Virginia House of Delegates considers legislation to allow the Pamunkey to pursue commercial gaming in Norfolk and Richmond. The resort will include a four-diamond hotel tower with a […]
