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Richmond switches up stadium funding plan
UPDATED JULY 16 Richmond City Council this spring pitched a bit of a curveball on financing of the city’s new baseball stadium. On May 8, councilors approved a plan that they say would save the city money and get the replacement stadium — part of the proposed Diamond District — completed in time to meet […]
State delays choosing Shenandoah medical marijuana provider
At its June 26 meeting, the Virginia Cannabis Control Authority was expected to announce which company, among 40 applicants, had been selected from a highly competitive process to become the sole licensed pharmaceutical processor of medical cannabis for a region including the entire Shenandoah Valley, as well as the cities of Ch[...]
Chesterfield County industrial properties sell for $9.85M
An industrial warehouse and about 11.6 adjoining acres in Chesterfield County were sold for $9.85 million, Cushman & Wakefield | Thalhimer announced earlier in June. According to county property records, 2001 Bellwood Road LLC purchased an 85,549-square-foot warehouse at 2001 and 1911 Bellwood Road and an additional 11.6 acr[...]
Barkin: Still a waiting game for interest rates’ effect on inflation
The U.S. economy has yet to feel the effects of current interest rates, but it eventually will, Federal Reserve Bank of Richmond President and CEO Tom Barkin predicted Thursday during an event held by the Risk Management Association’s Richmond chapter in the city’s East End. “I’m optimistic that we’ve g[...]
Condair invests $57.2M on new Chesterfield County plant
Switzerland-based Condair Group, a manufacturer of commercial and industrial humidification systems, will invest $57.2 million to establish a new production facility in Chesterfield County that is expected to create 180 jobs, Gov. Glenn Youngkin announced Tuesday. The company will convert a pre-existing warehouse facility on 1[...]
Retro Hospitality adds three hotels to portfolio
Richmond-based boutique hotel advisory and management firm Retro Hospitality has added three Virginia hotels to its portfolio, the firm announced Wednesday. The company now operates The Bee and The Holbrook Hotel in Danville and The Lofts at Downtown Salem in Salem. Other hotels in its portfolio include the Blackburn Inn and Con[...]
VCU names new dean of health professions college
Virginia Commonwealth University’s College of Health Professions will have a new dean effective Aug. 15, the university announced Wednesday. Amy R. Darragh comes from Ohio State University, where she is director and vice dean of the School of Health and Rehabilitation Services. Darragh succeeds interim dean Paula Song, the[...]
Developers break ground on rent-restricted, solar-powered apartments
Developers broke ground May 30 on the The Helios, a $54 million, rent-restricted, solar-powered apartment building in Henrico County, according to an announcement by Bank of America, which is financing construction. A joint venture between Spy Rock Real Estate Group and Crescent Development, both based in Richmond, the apartment[...]
JLARC calls for governing changes at VCU Health
After a failed development deal and a nearly $80 million payout, VCU Health needs to change the way it is governed, the Virginia General Assembly’s investigative body declared Wednesday. Virginia Commonwealth University’s president has too much room to influence the health system’s operations, the Joint Legisla[...]
Dominion closes sale of Utah gas utility for $4.3B
Richmond-based Fortune 500 utility Dominion Energy has closed on its $4.3 billion sale of subsidiaries Questar Gas and Wexpro to Canadian pipeline and energy company Enbridge, Dominion announced Monday. Salt Lake City, Utah-based natural gas utility Questar serves more than 1.2 million customers in Utah, Wyoming and Idaho. Wexpr[...]
Accenture names managing director for D.C. market
Accenture has named Ed Engles office managing director of its Metro D.C. office, overseeing a region stretching from Baltimore to Richmond, the global professional services company announced Thursday. Engles steps into the shoes of Marty Rodgers, who has been filling that role for almost a decade while also serving as Accenture&[...]
Richmond region scores in sports tourism
With several new and expanded facilities across the region, the greater Richmond area has become an attractive hub for amateur sporting events, bringing in hundreds of thousands of visitors and millions of dollars in added revenue. The region’s amateur sports tourism generated $88.7 million in hospitality-related revenue i[...]
