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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&[...]
Lidl US chief to leave, reports say
Updated Aug. 7, 2023 The president and CEO of Lidl US, the Arlington-based United States branch of the German grocery chain, is set to leave the post at the end of August, according to reports in German and U.S. trade publications citing an internal memo. Michal Lagunionek, Lidl’s U.S. president and CEO since 2021, will [&[...]
8 Va. companies make 2023 Fortune Global 500
Eight Virginia-based companies made Fortune magazine’s 34th Global 500 list, released Tuesday, notably including the newly renamed RTX and Boeing Co. as Virginia’s second and third highest-ranking companies, both of which are also newcomers to the state, having moved their headquarters to Arlington County last year.[...]
ManTech to acquire Definitive Logic
ManTech International Corp. on Tuesday signed an agreement to acquire Arlington County-based Definitive Logic in a deal that will add 330 employees to the Herndon-based federal contractor’s workforce. Financial terms of the deal were not disclosed. Definitive Logic provides digital transformation consulting services and te[...]
PharmaVille
A coalition of public and private sector partners is hoping to write a new chapter for Central Virginia — and ultimately the country — in its mission to fight drug shortages and create low-cost medications. Anchored by wet labs and research and development in Richmond and manufacturing in Petersburg, the Alliance for Buildi[...]
Surge of credit card defaults ahead?
Americans owe an all-time high of nearly $1 trillion on their credit cards, setting the stage for a possible surge in consumer delinquencies and defaults. “There are nascent signs of trouble brewing,” investment firm Glenmede Trust Co. warned in an April research note. “An ever–larger share of credit balances have transi[...]
Building equity
When BB&T recruited Thomas Ransom, a Black economics student at Hampden-Sydney College, to join its management development program in the late 1990s, he quickly had to pick up the world of banking and its culture. The Urbanna native says he’d never met a banker before starting at BB&T and certainly didn’t k[...]
Global coworking franchise coming to Chesapeake
Venture X, a global coworking office space franchise, is entering the Hampton Roads market, with its first location coming to Summit Pointe in Chesapeake, Cushman & Wakefield | Thalhimer announced Tuesday. HMP Properties LLC, a Venture X franchisee, has leased 18,543 square feet of space in the 555 Belaire office tower, whic[...]
$77.8M apartments break ground outside C-ville
Charlottesville-based GW Real Estate Partners, a vertically integrated multifamily construction and development firm, and Austin, Texas-based Virtus Real Estate Capital, have broken ground on a new, $77.8 million apartment community at the entrance to North Pointe, a 224-acre mixed-use community near Rivanna Station in Albemarle[...]
Virginia MOCA moving to Virginia Wesleyan campus
The Virginia Museum of Contemporary Art is moving from Virginia Beach’s ViBe District to Virginia Wesleyan University’s campus, with the aid of a $25 million gift, the museum and university said Tuesday in announcing the partnership. The gift, from Jane Batten, Joan Brock and David and Susan Goode, will fund construc[...]
Richmond casino returning to Nov. ballots
It wasn’t exactly a surprise, but the Virginia Lottery and the Richmond Circuit Court have approved Richmond’s do-over casino referendum to appear on ballots this fall. “I am excited to see the Virginia Lottery and the Richmond Circuit Court approve the referendum for a Richmond destination resort and entertainment[...]
Plans revealed for second Buc-ee’s Va. location
Buc-ee’s appears to be planning its second Virginia location, this time along Interstate 81 in Rockingham County near Mt. Crawford. According to a post on the county’s Facebook page, Buc-ee’s, the Texas-sized travel center chain, has applied for a special use permit for review and approval of a proposed sign pl[...]
