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Youngkin announces $8.1M in GO Virginia grants
A variety of projects around the state intended to spur economic and workforce development will get a boost from $8.1 million in state GO Virginia grants, Gov. Glenn Youngkin announced Friday. The 17 projects are expected to add hundreds of jobs. Nearly $4.8 million will fund two Virginia Tech projects, including one expected to build […]
ASRC Federal to pay $350M for SAIC’s logistics biz
Reston-based Science Applications International Corp. (SAIC) has agreed to sell its logistics and supply chain management business to Reston-based ASRC Federal Holding Company LLC for $350 million in cash, both companies announced Thursday. About 240 SAIC employees will transition to ASRC Federal upon completion of the deal, which is expected to close in spring 2023. […]
Va. home sales down 20% from a year ago
Virginia home sales were down 20.3% in February compared with the same month last year, marking the 15th consecutive month of declining sales, according to a Virginia Realtors report released March 21. Home sales in the commonwealth last month totaled 6,505, a decrease of 1,655 sales from February 2022. The Northern Neck and par[...]
GDIT lands $1.8B Army flight sim contract
Falls Church-based General Dynamics Information Technology Inc. will provide flight simulation training services to the Army under a nearly $1.8 billion contract announced, the Pentagon announced Thursday. Work is estimated to be completed March 31, 2035, with locations and funding to be determined with each order. Also on Thursday, GDIT announced it received two contracts […]
Capital Square launches subsidiary to oversee multifamily portfolio
Glen Allen-based real estate company Capital Square has launched a wholly-owned subsidiary to oversee management of the company’s multifamily portfolio, the company announced March 20. Capital Square Living will oversee off management of the company’s 55 residential communities, including 14,000 units across the Sout[...]
GDIT lands EPA contracts valued at $380M
Falls Church-based General Dynamics Information Technology Inc. has received two contracts from the U.S. Environmental Protection Agency valued up to $380 million, the company announced Wednesday. GDIT will provide program support and infrastructure to the EPA’s Office of Superfund Remediation and Technology Innovation by applying technical, scientific, analytical chemistry and IT services under a contract […][...]
Va. hotel revenues in February up 14.9% from 2019
Hotel revenues in Virginia were 14.9% higher in February compared with pre-pandemic levels, largely because of increased room rates, according to data released Tuesday by STR Inc., a division of CoStar Group Inc. that provides market data on the U.S. hospitality industry. Hotel rooms sold increased by 4.3% last month compared wi[...]
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 Chippen[...]
Virginia ABC to hold Secretariat bourbon lottery
Bourbon fans should gallop to enter the Virginia Alcoholic Beverage Control Authority’s online lottery later this month for 187 autographed bottles of Secretariat Reserve Straight Bourbon, celebrating the 50th anniversary of the thoroughbred’s 1973 Triple Crown sweep. The bourbon comes from Charlottesville-based Ragged Branc[...]
Boeing to build 184 helicopters under $1.9B contract
Arlington-based Boeing Co. will build 184 AH-64E Apache attack helicopters for the U.S. Army and international customers under a $1.9 billion contract modification announced by the Pentagon Friday. The award brings the contract’s total funded value up to $2.1 billion and has the potential to surpass more than $3.8 billion [...]
Hampton Roads housing market appears to stabilize
The Hampton Roads housing market appears to be stabilizing, according to a new report from the Real Estate Information Network Inc. (REIN). “We expect 2023 to be similar to pre-pandemic years where inventory increases in the spring and summer, and as long as buyers have inventory to choose from, they’re going to shop for hom[...]
Four Richmond-area distribution centers sell for $105.6M
A joint venture between Glen Allen-based Lingerfelt and Swiss private investment firm Partners Group bought three Chesterfield County distribution centers and one Hanover County facility for $105.6 million, Lingerfelt announced Friday. The four multi-tenant facilities are 100% leased to 18 tenants and total 1.16 million square f[...]
