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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 Unive[...]
Richard Cullen to become Youngkin’s counselor
Gov.-elect Glenn Youngkin has selected former Virginia Attorney General Richard Cullen as counselor to the governor. A senior partner and former chairman of McGuireWoods, Cullen will leave Virginia’s largest firm on Jan. 14, the day before Youngkin is sworn in. Cullen joined McGuireWoods in 1977. From 1991 to 1994, he serv[...]
Looking back
In November 2021, Gov. Ralph Northam sat down for an interview with Virginia Business, looking back at his eventful four-year term. This is a transcript of the full interview, part of which was used in the January 2022 cover story, “A dramatic shift.” The interview has been edited for length and clarity. Virginia Business: W[...]
Consumer Technology Association: “CES will and must go on”
The Arlington-based Consumer Technology Association (CTA) is moving forward with its CES consumer technology trade show in Las Vegas in January, despite cancelations from big exhibitors and the surge of COVID-19 cases fueled by the omicron variant. Formerly known as the Consumer Electronics Show, CES typically draws thousands of[...]
Chantilly’s CTSI acquires Fla. security firm
Chantilly-based technology firm Corbett Technology Solutions Inc. (CTSI) announced Tuesday it had acquired Orlando, Florida-based risk, resilience and security services provider Star Asset Security. Financial terms of the transaction were not disclosed. CTSI is a portfolio company of Chicago-based private equity firm Wind Point Partners. The transaction is CTSI’s sixth acquisition since it was acquired […][...]
30 Va. projects awarded $24.5M in flood prep grants
The Virginia Community Flood Preparedness Fund has awarded $24.5 million in grants for 30 projects statewide, Gov. Ralph Northam announced Thursday. “The Community Flood Preparedness Fund will provide an estimated $75 million a year to improve the resilience of our commonwealth, including targeted funding for Virginia’s most vulnerable and underserved communities,” Northam said in a […][...]
$40.8M apartment building in Alexandria sells
A 227-unit apartment building in Alexandria assessed at $40.8 million sold for an undisclosed sum, JLL Capital Markets announced Tuesday. JLL Capital Markets arranged a three-year $34.34 million loan for commercial real estate company Washington Property Co., which brought the property from 100 South Reynolds LLC. The loan was s[...]
Construction starts on $100M industrial center in Hanover
Construction started Dec. 9 on the $100 million, 1.1-million-square-foot East Coast Commerce Center in Hanover County. The speculative industrial project is slated for completion in mid-summer 2022. The 129-acre center will have 120 truck docks, 540 trailer parks, 8-foot floor slabs, a 2:1 parking ratio and more than 35 surplus [...]
Va. had fewer job openings in October
Virginia had 308,000 job openings in October, the largest drop in openings among U.S. states, as well as 108,000 quits, according to U.S. Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS) data released Dec. 17. In September, Virginia had a record-setting 336,000 job openings, but in October, openings declined by 28,000, […]
ODU earns R1 classification in national ranking
Old Dominion University has earned the highest research activity classification in the Carnegie Classification of Institutions of Higher Education, the university announced Tuesday. ODU is now one of 137 four-year research institutions with the Research 1 classification, which indicates “very high research activity.” To rece[...]
$55M affordable housing community to be built in Richmond
Construction is set to start in January 2022 on a new $55 million affordable housing community in Richmond, developer Dakota Partners announced this week, after having purchased a 14.4-acre parcel at 2200 Brady St. on Richmond’s South Side. To be known as Brady Square, the community will include 264 residential units in tw[...]
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 [...]
