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Surf’s up for Chesterfield’s The Lake
It took a lot to make The Lake happen. Developer Brett Burkhart had to nail down $323 million in financing, obtain a slew of permits and get Chesterfield County to offer performance grants or tax rebates. That took seven years, but he finally got it done, and clearing is underway on the 105-acre site on […]
COVID challenges continue for Va. restaurants
Liz Kincaid faced a major problem in August after the walk-in refrigerator in one of her Richmond restaurants — Max’s on Broad — broke. Her usual supplier told her the wait for the replacement part would take two months. “I have raw oysters and produce and fish and chicken,” recalled Kincaid. “I’[...]
Conways make $13M donation to VCU nursing school
McLean philanthropists Joanne and William E. Conway Jr. have given $13 million to Virginia Commonwealth University’s School of Nursing, the university announced Monday. The gift is the largest in the school’s history and will provide more than 1,000 undergraduate and doctoral students with scholarships over the next [...]
17th Street Lofts sells for $4.65M in Richmond
An apartment building in the city of Richmond has changed hands. BP I LLC purchased the 17th Street Lofts, located at 329-333 Oliver Hill Way, from 333 Oliver Hill LLC for $4.65 million, One South Commercial reported. The 20,300-square-foot space includes 24 units and was purchased as an investment. Ryan Rilee and Tom Rosman of [...]
22 acres in Innsbrook to be developed into mixed-use
Newton, Massachusetts-based Northland has acquired 22 acres to build a mixed-use development at the “North End” of the Innsbrook area in Henrico County, from Raleigh-based Highwoods Properties. The site is located on the north end of the Innsbrook Corporate Center, at the Intersection of Interstate 95, Nuckols Road and Lake [...]
Allianz promotes Canadian CFO to North American CFO
Henrico County-based Allianz Partners USA has promoted Patrick Espeut to chief financial officer for the North America region, which includes the U.S. and Canada, the travel insurance and assistance company announced Tuesday. Allianz’s former chief financial officer, Jeff Wright, was promoted to CEO earlier this year. Espe[...]
Hotel revenues continue to outpace 2019, but only slightly
The commonwealth’s hotel industry is continuing its recovery, though the Northern Virginia market continues to be a drag on its performance, according to data from STR Inc., a division of CoStar Group Inc. that provides market data on the U.S. hospitality industry. The latest data show rooms sold decreased by 4.6% in Virginia through August […]
Stratford Hills Apartments sells for $76.5M in Richmond
Stratford Hills Apartments, a 430-unit residential community in Richmond’s Chippenham Village neighborhood, sold for $76.5 million on Aug. 22, Colliers announced. West 300 North Associates LLC bought the property, located at 2517 W. Tremont Court near Chesterfield County’s Bon Air area, from Stratford Bethany LLC. Th[...]
Syska Hennessy hires new assoc. VP for Richmond office
New York City-based engineering firm Syska Hennessy Group, known for projects such as Lincoln Center for the Performing Arts and the Central Intelligence Agency’s Langley headquarters, has named David Wright associate vice president and senior practice area leader for health care in its Richmond office, the company announc[...]
Caroline County building sells for $3M
A 71,252-square-foot office building in Caroline County has sold for just over $3 million, Cushman & Wakefield | Thalhimer announced Sept. 5. The building, located at 24010 Partnership Blvd. in Ruther Glen, is on 47 acres. Atlantic Union Bank sold the building to Partnership Blvd Properties LLC. Will McGoogan of Cushman & Wakefield | Thalhimer […]
Lutron Electronics to build $28.3M factory in Ashland
Pennsylvania-based Lutron Electronics will invest $28.3 million to build a 145,000-square-foot manufacturing plant in Ashland, creating 200 jobs, Gov. Glenn Youngkin announced Thursday. Lutron manufactures lighting controls, automated shading solutions, and intelligent lighting fixtures for residential and commercial applications. Lutron already has a sales office and training center in Ashland located at 11520 Sunshade Lane, […][...]
Colonial Downs Racetrack sets $2.88M daily bets record
Colonial Downs Racetrack broke records again in its racing season, with bettors waging more than $6.5 million on New Kent County Virginia Derby Day earlier this month, Colonial Downs Race Group announced this week. The total amount bet on races during the 26-day racing season was $74.9 million and a daily average of $2.88 million, […]
