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$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[...]
U.Va. alumni make $5M gift to fund professorship
University of Virginia alumni Donna and Richard Tadler made a gift of $5 million that will be used to create a professorship of entrepreneurship at their alma mater, U.Va. President Jim Ryan announced earlier this month. The gift will be matched with $5 million more from the university’s Bicentennial Professorship Fund, for a total investment […]
47 mixed-use parcels in Richmond sell for almost $22M
Seven bundles of properties totaling 47 parcels in Richmond sold for almost $22 million, Commonwealth Commercial Partners LLP announced last week. The mixed-use properties are located in Richmond’s Fan District and consist of retail, office and restaurant space, as well as about 24 apartments and 267 parking spaces. Richmo[...]
Virginia Beach, Manassas apartment complexes sell for $77.6M
An apartment complex in Virginia Beach sold for $52.1 million, and an apartment building in Manassas for $25.5 million, Alexandria-based real estate company Bonaventure announced Monday. Sitting on 19.83 acres, Magnolia Run is a 200-unit, 421,272-square-foot apartment complex in Virginia Beach with two- and three-bedroom units, [...]
Plastics manufacturer to produce 300 jobs in Chesterfield
Starplast USA, a subsidiary of Israel-based plastic manufacturer Starplast, plans to invest $17.7 million in a new facility in Chesterfield County, creating 300 jobs over the next five years, Gov. Ralph Northam announced Tuesday. “Starplast chose Chesterfield County for its new manufacturing operation because the geographic lo[...]
Merrick named as state’s next commerce secretary
Caren Merrick, the CEO of Virginia Gov.-elect Glenn Youngkin’s nonprofit Virginia Ready Initiative, has been chosen to serve as Virginia’s next secretary of commerce and trade, Youngkin’s campaign announced Tuesday. Before leading VA Ready, a role in which she managed $10 million in public and private funding t[...]
Dominion orders 176 turbines from Siemens Gamesa
Dominion Energy Inc. has ordered 176 offshore wind turbines from Siemens Gamesa Renewable Energy S.A. for its 2.6-gigawatt, $9.8 billion Coastal Virginia Offshore Wind project, the utility announced Monday. The Richmond-based Fortune 500 utility declined to release financial details of the contract. The SG 14-222 DD turbines —[...]
EVMS, ODU and Sentara sign health center agreement
Eastern Virginia Medical School, Old Dominion University and Sentara Healthcare entered into a memorandum of understanding Friday to work toward a collaborative academic health center. Officials from each institution will cooperate to improve health care disparities in Hampton Roads and to seek more consistent funding of EVMS fr[...]
Q&A: Quebec official discusses Va. trade mission
Quebec’s delegate general in New York, Martine Hébert, visited Virginia this week on a trip to strengthen economic relations between her province and the commonwealth. Appointed in August by Quebec Premier François Legault and based out of New York, Hébert is responsible for promoting the province’s economic inter[...]
Cvent goes public again
Tysons-based event software company Cvent Holding Corp. began trading on the Nasdaq Global Market Dec. 9 after closing its merger the day before with San Francisco-based SPAC Dragoneer Growth Opportunities Corp. II. The move is Cvent’s second time going public. In 2016, Vista Equity Partners acquired it for $1.65 billion a[...]
Southwest Va. project will help manufacturers enter wind energy supply chain
Public-private campaign InvestSWVA announced Tuesday the launch of an economic development initiative designed to help Southwest Virginia manufacturers find entry points in the supply chain for wind energy equipment components. The initiative, called Project Veer, will connect Southwest Virginia manufacturers with industry exper[...]
Two Va. projects are finalists for $100M U.S. EDA grants
Two Virginia projects — one to make Central Virginia an advanced pharmaceutical manufacturing hub and one to support the transportation and logistics cluster in Southern and Southwest Virginia — are two of 60 finalists for the U.S. Economic Development Administration’s Build Back Better Regional Challenge, which will provide awardees with up to $100 million each. […]
