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Notable hotels opening across Virginia

Summary

Despite a slowdown in government and meetings due to federal layoffs, Virginia’s hotel market remains strong, with several major properties opening throughout the state.

STR reports that statewide occupancy rose slightly in July and August compared with the same period in 2024.

“Our leisure demand has been up, and so that’s made a little bit of the difference,” says Eric Terry, president of the Virginia Restaurant, & Travel Association. Here are a selection of new and projects under construction or recently completed across Virginia:

Hotel Burg, a boutique wine- and hunt-themed hotel, opened in Leesburg in August. Photo courtesy Hotel Burg

Northern Virginia

Terry says one of the year’s most significant projects was the dual-branded AC Hotel Reston and Residence Inn by Marriott Reston, which opened in January. The $100 million, 15-story hotel in Reston Town Center features 147 rooms under the AC brand and 120 Residence Inn suites, topped by a rooftop lounge called Syn. The building, developed and managed by Donohoe , also features 11,300 square feet of meeting space, including a 3,500-square-foot grand ballroom.

Michael Golembe, Donohoe’s vice president of operations, says the model has been “very well received,” noting the Residence Inn draws families and long-term visitors, while the AC brand attracts business travelers during the week.

The JW Marriott Reston Station, which opened in September, is the first JW Marriott hotel in Virginia, a brand focused on luxury. The property features 247 guest rooms and roughly 40,000 square feet of meeting and event space, with capacity for up to 1,400 guests. The hotel features multiple ballrooms, several dining options and works by various artists.

Despite it being open only for a short time, spokesperson Isha Janjikhel says the hotel has already been in demand for weddings, birthdays and anniversaries. She also says the hotel is partnering with numerous Reston-based organizations to host events.

“We definitely want to be a community spot,” she says.

In downtown Leesburg, boutique Hotel Burg opened Aug. 1. The wine- and hunt-themed hotel, developed by Madison Dale and managed by PM Hotel Group, features 39 guest rooms and three architecturally distinct buildings, including a preserved 1885 historic home. The hotel features a community room and boardroom with a combined 1,420 square feet of meeting space, a 1,800-square-foot patio and a rooftop designed for cocktail receptions that can accommodate 80 guests.

Central Virginia

In Charlottesville, the University of Virginia’s Virginia Guesthouse, a $168 million, 223,000-square-foot building, will serve as a hotel and conference center, featuring 214 guest rooms and over 25,000 square feet of meeting and event space. Pyramid Global Hospitality will operate the hotel, which is expected to open in spring 2026 near the new School of Data Science in the Ivy Corridor.

The Birdwood Mansion at Boar’s Head Resort, a bit past campus off Ivy Road, is undergoing a $23 million renovation. It’s scheduled to open in early 2026 with seven rooms — four in the main house and three adjacent cottages. It also includes multiple event settings and a 42-seat restaurant. The mansion is owned and operated by the University of Virginia Foundation.

Hotel Petersburg opened in late 2024 after being vacant for nearly 50 years, and the refurbished Tapestry Collection by Hilton property has 64 rooms and about 2,000 square feet of meeting space, as well as a speakeasy-style bar, a rooftop lounge, a full-service restaurant and a courtyard. Opened in 1904 as the Shirley Hotel, the Hotel Petersburg operated until 1975, when the city bought it to use for offices. Dr. Nat Cuthbert, a Petersburg diagnostic radiologist, bought the building in 2017 and is behind its renovation.

Shenandoah Valley

At the beginning of August, the four-story Spark by Hilton Harrisonburg University Area opened with 85 rooms and a meeting room that accommodates approximately 25 people.

The Inn at Vaucluse Spring in Stephens City is set to reopen in spring 2026 after a $8 million-plus renovation. The 18th-century manor is being converted into a boutique hotel with 25 suites, a spa, pool and two restaurants, with the second phase scheduled for completion in 2027.

Also slated to open in spring 2026, the Three Hills Historic Estate and Spa in Warm Springs will offer 64 rooms, a spa wing and 21 cottages.

Elsewhere in the state

In Portsmouth, Rivers Casino and Rush Street Gaming are moving forward with a $65 million, 106-room hotel slated to open in 2027, and the 163-room Tempo by Hilton hotel is set to open in summer 2027 at Virginia Beach’s Pembroke Square. Construction there started in May.

In November 2026, Kalahari Resorts & is set to open its African-themed indoor waterpark concept in Spotsylvania County. The $900 million, 1.38 million-square-foot resort will feature 907 guest rooms and suites, a 175,000-square-foot indoor waterpark, a 90,000-square-foot adventure park, and 150,000 square feet of meeting space.
The project is already taking shape off Interstate 95.

“That’ll be far and away the largest hotel in the state when it opens,” Terry says. “And one of the most significant projects that we’ve had in the hotel community in probably decades.”

Roanoke remembers Hurricane Juan’s 1985 toll

Summary

  • The 1985 flood killed 10 and caused $83 million in damage to businesses
  • A $70 million Roanoke River Flood Reduction Project improved protections.
  • installed a permanent floodwall at Carilion Roanoke Memorial Hospital in 2019

Forty years ago, remnants of Juan dumped buckets of rain on the Roanoke Valley for days. Then, on Election Day, the area received 6.6 inches over a few hours. The Roanoke River rose to more than 23 feet.

The 1985 flood claimed 10 lives in the valley. An economic price was also paid.

“In Roanoke alone, the damage to businesses and industrial plants and equipment was estimated at nearly $83 million,” The Roanoke Times reported in a 1995 article.

Larry Davidson, the third-generation owner of Davidsons who sold the store this spring, remembers walking from the menswear shop on Jefferson Street to the city market area, where he found water had nearly reached the tables of the farmer’s market. “There was a canoe or row boat or something down there,” he recalled.

Water didn’t reach his store. Others weren’t as lucky. More than 100 businesses were damaged.

In 1985, the now-deceased Vic Thomas was a member of Virginia’s House of Delegates. He also owned Roanoke’s E.J. Thomas Market where he was working the day of the flood. According to news reports, a helicopter rescued him and a few others from the roof of the Orange Avenue store mere seconds before the angry water pulled the whole building down.

In October, Nancy Howell Agee, CEO emeritus of Carilion Clinic, shared memories of experiencing the flood from Carilion Roanoke Memorial Hospital.

“At that time there was a fairly open staircase to the first floor, and I was standing on that staircase, watching the whole lobby fill with water,” she recalled. “Big trees coming through the front door and everything was dark. It was eerie and frightening.

Over the decades following the disaster, the region has worked to become more resilient to .

Between 1990 and 2012, the City of Roanoke partnered with the on the Roanoke River Flood Reduction Project, which is estimated to have cost more than $70 million. The work included the construction of levees and making flood storage bench cuts to widen the floodplain.
The city got the chance to test out the work when remnants of Hurricane Michael caused the Roanoke River to crest at 16.64 feet in 2018.

“We saw that the bench cuts held the water they were supposed to … so that was kind of a good test run,” says Mckenzie Brocker, Roanoke’s water quality administrator.

Carilion Roanoke Memorial Hospital, which sits near the Roanoke River, has also worked to improve .

In 1985, water poured into the hospital’s basement where the main electrical service was located, causing much of the facility to lose power.

In 2019, Carilion Clinic installed a permanent floodwall into the façade of Roanoke Memorial. The has also relocated generators and other equipment “to allow for multiple power source redundancies,” according to Hannah Curtis, a Carilion spokesperson. “Like many who faced the unprecedented flooding in 1985, we took away lessons learned.”

As flooding has impacted inland communities, including Damascus in Southwest Virginia, where 140 structures were damaged or destroyed in 2024’s Hurricane Helene, Roanoke has continued its work.
In May, the city began a $2.5 million effort to improve how the system drains rainfall in a section of downtown.

Tina L. Workman, president and CEO of Downtown Roanoke Inc., which promotes economic development downtown and provides other services, says she doesn’t hear from business owners with flooding concerns.

“I feel like they go above and beyond,” Workman says of the city’s flood resiliency efforts.

Newport News airport shifting beyond commercial flights

Following years of declining commercial air , the -Williamsburg is expanding its focus from traditional passenger service to emerging and aerospace uses.

In May, Newport News City Council authorized $4 million to sustain the airport as it prepares to transform into a site-ready air commerce park. In 2024, a study said that the airport, which saw a decrease in passengers from 1 million in 2012 to about 142,000 in fiscal 2025, should diversify its mission to logistics, advanced air mobility, aircraft manufacturing and final assembly.

The city’s investment includes $3 million for operational costs and up to $1 million for capital projects, supporting the airport’s resources and positioning Newport News as an innovation hub, says Mayor Phillip Jones, who emphasizes that passenger service will continue.

“We can pursue two parallel tracks,” he says. “There are a lot of assets at the airport that we would like to continue to develop.”

Meanwhile, the Peninsula Airport Commission, which owns and operates the airport, is moving forward.

“We want to be on the forefront of a lot of aviation innovation across the industry in the next three to five years,” says Lindsey Carney, the commission’s chair. “The commission made the decision not to turn our back on commercial air service but to look to other opportunities as well. We want to make this airport one of the best assets up and down the East Coast.”

The airport, which includes a 180,000- square-foot terminal, covers 1,800 acres. The commission wants to develop 280 acres on the west side for use in aviation air manufacturing or advanced air mobility. On the east side, which includes general aviation hangers, 50 acres can be developed to recruit businesses to house corporate aircraft. Development is also slated for 370 acres on the north side of the airport, part of which lies in York County.

The airport doesn’t have a set timeline yet, but Carney hopes the various development projects will move forward within the next three years, with sites developed in phases.

Carney anticipates the shift will produce up to 20,000 jobs once the park is fully developed. She adds that diversification may even increase passenger air travel. “We believe it will attract more airlines who will see additional activity at the airport and more people coming and going.”

ERIK SHANNON

Erik Shannon has overseen this regional division of since 2021, starting as interim chief executive and then as permanent CEO. With about 2,700 employees, UVA Community Health encompasses three Northern Virginia hospitals — Prince William Medical Center, Haymarket Medical Center and Culpeper Medical Center — as well as an integrated network of medical practices, cancer care and outpatient services. The university acquired Novant Health UVA Health in 2021, after running the system as a joint venture.

Shannon has more than three decades of -related experience and was a partner at accounting firm Grant Thornton, where he led its national health care practice and helped lead the integration of UVA Community Health into UVA Health.

During Shannon’s tenure, UVA Community Health’s three hospitals have received multiple recognitions, including three-year accreditations from the Joint Commission. This spring, The Leapfrog Group gave the three centers A grades for safety.

Shannon has also made supporting the greater community a priority. UVA Community Health has provided about $250,000 annually in grants to community partners. He serves on the Virginia Hospital & Association’s board and chairs its workforce steering committee.

“Throughout his career — and especially in his time at UVA Health — he has demonstrated integrity, innovation and an unshakable commitment to community,” wrote Dr. Mitchell Rosner, UVA Health’s CEO and executive vice president for health affairs at U.Va.

Before joining Grant Thornton, Shannon was a partner at Ernst & Young and at Arthur Andersen. He holds a business administration degree from Seattle University and completed an executive development program at Northwestern University.

GORDON ROBERTSON

Gordon Robertson became chancellor of the private, conservative Christian university in 2023 following the death at age 93 of his famous father, Pat Robertson, who founded Regent in 1977.

Robertson previously succeeded his father in 2007 as president and CEO of and host of its flagship weekday news magazine TV show, “The 700 Club.” A CBN board member, he’s also executive producer of “The 700 Club” and CBN Films.

The second largest private university in Virginia, Regent offers degrees in more than 150 areas of study to students online and on its 70-acre campus in Virginia Beach. Robertson has presided over a $50 million fundraising campaign announced in 2024 to build a 31-acre sports complex. Regent ranked No. 373 on U.S. News & World Report’s 2026 Best National Universities list, and its online bachelor’s degree program is the highest ranked in Virginia.

Robertson graduated from Yale University in 1980 with a bachelor’s degree in history and earned his law degree from Washington and Lee University in 1984.

He practiced law in Norfolk for 10 years at Vandeventer Black (now merged with Woods Rogers) before he says a religious epiphany moved him to leave the law and lead CBN’s expansion into Asia. He moved to the Philippines; there, he founded the Asian Center for Missions and the Philippines chapter of CBN’s humanitarian nonprofit, Operation Blessing. Robertson also created “The 700 Club Asia.”

In 2018, Robertson became president of Operation Blessing. He’s also a board member.

For the Record: November 2025

Central Virginia

On Oct. 9, AstraZeneca announced it will invest $4.5 billion to establish two pharmaceutical manufacturing facilities in Albemarle County, with plans to create 600 jobs. According to Gov. Glenn Youngkin’s office, the project includes a new drug substance manufacturing facility focused on chronic diseases and a facility dedicated to antibody-drug conjugates focused on therapies for oncology indications. The project will be located at the Rivanna Futures Site located in Albemarle’s northern portion. The $4.5 billion is part of AstraZeneca’s plan to invest $50 billion in the United States by 2030. (VirginiaBusiness.com)

Dover Food Retail announced in September it would invest over $20 million to expand its Virginia operations, adding 300 jobs in Chesterfield County. The Georgia manufacturer is relocating manufacturing of its Anthony brand of commercial refrigerator and freezer glass doors and frames from Los Angeles to the company’s Chesterfield campus. Dover Food Retail is a manufacturer of commercial and industrial refrigeration systems, refrigerated display cases, specialty products, glass and freezer doors and lighting. It operates through its core brands, Anthony and Hillphoenix, and has more than 3,000 employees. (VirginiaBusiness.com)

Massachusetts-based Commonwealth Fusion Systems in September received approval needed for its planned Chesterfield County facility that’s expected to be the world’s first grid-scale commercial nuclear fusion power plant. The county’s board of supervisors approved a conditional use permit for the facility at the 94-acre site in the James River Industrial Center. CFS plans to build a 400-megawatt facility, dubbed ARC, at a cost likely to exceed $2.5 billion. CFS plans to begin construction in the late 2020s and expects ARC to begin generating carbon-free power for the grid in the early 2030s. (VirginiaBusiness.com)

In early October, Richmond Mayor Danny Avula sent a letter to Gov. Glenn Youngkin requesting $80 million in state funds over the next two years for “critical projects that will enhance regional resiliency of the Richmond waterworks.” The figure represents 5.7% of the $1.4 billion in water investments Avula said are planned for the region in the next decade. State funding would help alleviate the growing financial burden on the city’s utility ratepayers, Avula said. Youngkin is scheduled to propose Virginia’s next two-year budget in December. (Richmond Times-Dispatch)

The Virginia state government rejected a Certificate of Public Need request from Bon Secours’ St. Francis Medical Center to add 36 medical surgical beds to its Midlothian facility, saying that there isn’t enough need for them. Nevertheless, the has refiled its application in full. Bon Secours needed approval to add two floors to an existing inpatient tower that would house the 36 beds, along with four more intensive care unit (ICU) beds. The project’s estimated cost is $106 million. The state health commissioner approved the part of the request allowing for the four ICU beds. (VirginiaBusiness.com)

PEOPLE

Chesterfield County engineering and design firm Timmons Group announced in September that it has appointed Tim Asimos as chief marketing officer, a newly created executive role. In the role, Asimos will have oversight of the firm’s brand and lead its communications, business development and pursuits teams. Asimos has more than 20 years of experience in architecture, engineering and construction. He was most recently head of growth at Client Savvy. He previously worked for Timmons, serving in a marketing management role from 2006 to 2012. Timmons has 21 offices throughout the mid-Atlantic, Southeast and West, Midwest and Southernregions. (VirginiaBusiness.com)

Eastern Virginia

Norfolk-based Colonna’s Shipyard, the oldest continuously operating family-owned shipyard in the United States, announced it has invested $79 million to build its fourth drydock. According to an October news release from the shipyard, the new drydock in Norfolk is expected to have an approximate lifting capacity of 25,000 tons and will allow Colonna’s to improve capabilities in providing ship repair and maintenance services to maritime clients. The new drydock, under construction and slated for delivery in the first half of 2028, will be 147 feet wide and 725 feet long. (VirginiaBusiness.com)

The Hampton Roads economy grew for the fourth consecutive year in 2024. However, area economists warn that the region is overly reliant on federal spending, placing its economic health at risk in the event of future cuts. The analysis was released in early October in an annual State of the Region report from Old Dominion University’s Dragas Center for Economic Analysis and Policy. The report anticipates that the federal deficit, projected to reach $2 trillion in fiscal year 2026, will continue to rise. It encouraged the region to diversify its economy for long-term prosperity. (VirginiaBusiness.com)

city leaders in October unveiled a list of 12 sites they want to see developed or redeveloped, floating concepts such as a data center near Fort Eustis, a relocated City Hall and new downtown housing and retail. Officials discussed the properties during the Newport News Economic Development Growth & Expansion (EDGE) summit at City Center, with city staff pitching the sites to an audience that included regional developers. Within the following year, the city plans to seek development proposals for many of the targeted parcels and find ways to complement what’s already in the city. (VirginiaBusiness.com)

Norfolk will soon see a major boost in cruising activity, with Carnival Cruise Line’s popular ship Carnival Freedom homeporting there in 2027 and Norwegian Cruise Line’s Norwegian Pearl making 20 calls that same year. Carnival Cruise announced the news in September. The 100,000-ton Carnival Freedom will reposition from Port Canaveral to Norfolk in May 2027, establishing a new homeport. Carnival Freedom, a newer ship, will replace Carnival Sunshine for service in Norfolk. The Carnival Sunshine has been operating weekly, year-round sailings from Norfolk since February. Carnival Freedom’s itineraries will include cruises to the Bahamas, Bermuda, Eastern Caribbean and Canada. (VirginiaBusiness.com)

Sentara Health will lay off 220 employees — including 127 in Virginia — as part of a restructuring tied to its decision to drop some Medicare Advantage plans in Virginia, North Carolina and Florida. The removal of these plans will impact 28,961 insurance members statewide. A Sentara spokesperson said the plans were dropped because they were no longer financially sustainable, citing industry-wide headwinds, such as reimbursement trends and regulatory changes. An Oct. 3 letter sent in compliance with the Worker Adjustment and Retraining Notification Act says the Virginia layoffs will begin on Dec. 5 and be completed by April 10, 2026. (VirginiaBusiness.com)

U.S. Army Training and Doctrine Command shut down Oct. 1. The command is being combined with the Army Futures Command to create the new Training and Transformation Command, based in Austin, Texas. Established in 1973, TRADOC supported the Army by training over 750,000 soldiers and service members annually. It is still unknown how many of the civilians and soldiers from TRADOC’s Fort Eustis headquarters in Newport News will leave and if layoffs will occur. A spokesperson previously said TRADOC had approximately 2,000 military and civilians based at Fort Eustis, about 800 of whom were tied to the headquarters. (WHRO; VirginiaBusiness.com)

Northern Virginia

McLean-based candy and snacks giant Mars’ $36 billion bid to acquire Pringles and Pop-Tarts maker Kellanova was expected to clear a major hurdle by winning unconditional European Union antitrust approval, three people with direct knowledge of the matter said in early October. The European Commission warned in June that the deal could lead to price hikes and may boost Mars’ negotiating power with retailers, but it subsequently found insufficient legal grounds to demand concessions, the sources said. An EU decision is due by Dec. 19. (Reuters)

Congressional Democrats, including U.S. Sen. Tim Kaine, tied ABC late night host Jimmy Kimmel’s September suspension to the $6.2 billion Nexstar-Tegna acquisition, which requires approval from the Federal Communications Commission. Nexstar operates 28 ABC affiliates and is seeking to acquire Tysons-based Tegna, which owns 64 television stations across 51 markets. Kimmel, who returned to screens after a few days, made several remarks about the political reaction to conservative activist Charlie Kirk’s assassination. ABC placed Kimmel on indefinite suspension after Nexstar Communications Group said it would pull the show, followed shortly by Sinclair. FCC Chairman Brendan Carr cheered the moves by Nexstar and Sinclair, saying his agency had a strong case for holding Kimmel, ABC and network parent Walt Disney Co. accountable for spreading misinformation. (VirginiaBusiness.com; Associated Press)

The massive Prince William Digital Gateway data center campus, and the substantial private investment it represents, is at risk if an appeals court doesn’t put on hold a lower court’s recent voiding of the project’s 2023 rezonings, while a forthcoming appeal from the would-be developers is adjudicated. That’s according to a motion filed Sept. 26 in the Court of Appeals of Virginia from QTS Realty Trust, Compass Datacenters and the Prince William County government. In August, a circuit court judge annulled the rezonings, largely based on technical legal deficiencies in how and when the county advertised public hearings. (Washington Business Journal)

In September, a major ransomware attack against Collins Aerospace — a subsidiary of Arlington County-based Fortune 500 aerospace and defense contractor RTX — disrupted check-in and boarding systems at several airports across Europe over multiple days, with disruptions forcing delays and cancellations of flights. The disruptions meant that only manual check-in and boarding was possible. Collins, whose systems help passengers check themselves in, print boarding passes and check their luggage, cited a “cyber-related disruption” to its multi-user system environment (MUSE) software at “select airports.” (Associated Press)

President Donald Trump’s administration warned in early October of no guaranteed back pay for federal workers during a government shutdown, reversing what has been long-standing policy for some 750,000 furloughed employees, according to a memo being circulated by the White House. Trump signed into law after the longest government shutdown in 2019 legislation that ensures federal workers receive back pay during any federal funding lapse. But in the new memo, his Office of Management and Budget says back pay must be provided by Congress, if it chooses to do so, as part of any bill to fund the government. (Associated Press)

PEOPLE

Michael LaRouche succeeded Tom Watson asCEO of Herndon-based federal contractor Serco on Oct. 1. Watson stepped down after seven years with Serco, the North American subsidiary of British parent company Serco Group. LaRouche most recently was founder and president of Emalar, a tech company focused on national security, and was president of the Science Applications International Corp.’s national security and space sector. (VirginiaBusiness.com)

/ Lynchburg/ New River Valley

A BWX Technologies subsidiary was awarded a $1.5 billion contract from the National Nuclear Security Administration to help the United States establish domestic uranium enrichment capability for defense, the Lynchburg-based nuclear components manufacturer announced Sept. 16. BWXT Enrichment Operations will design, build and operate the Domestic Uranium Enrichment Centrifuge Experiment (DUECE) pilot plant at BWXT’s nuclear fuel services site in Erwin, Tennessee. To support this work, BWXT began construction in June on a centrifuge manufacturing development facility in Oak Ridge. (VirginiaBusiness.com)

The Franklin County Board of Supervisors shot down a proposal for a new solar farm in Henry after significant community pushback at a public hearing held Sept. 14. Robin Ridge Solar was proposing a 35-megawatt solar generation facility on a 376-acre property near the former Henry Elementary School. Plans called for placing solar panels on 121 acres of the site for energy storage to supplement Appalachian Power’s transmission system. Supervisors voted 5-1 against the proposal. Blue Ridge District representative Tim Tatum was absent.
(The Roanoke Times)

Before the April fire that devastated Noke Van Co. and the company’s warehouse at the Riverdale industrial site, multiple Roanoke officials had known for more than a year that the entire property was in violation of fire code and was not connected to water for fire suppression, according to documents obtained by Cardinal News. Workers had turned off the valves connecting water to the center’s fire suppression systems before the fire, a July 2025 statement from Riverdale Southeast, the entity that owns the property, stated. The statement also noted Noke Van’s owners had not been made aware of the “historic water line failure.” (Cardinal News)

CommuteAir ERJ145 Flight 4339, operating as United Express, “landed long” as it arrived at Roanoke-Blacksburg Regional at about 10 p.m. on Sept. 24, according to a Federal Administration statement. It was safely stopped by an engineered materials arresting system bed at the end of the runway. The safety area made of cellular cement blocks meant to slow and stop an aircraft that overruns the runway was upgraded last year and performed as intended, according to an airport spokesperson. There was heavy rain in the area at the time of the incident. (Associated Press)

Virginia Tech’s board of visitors approved the addition of $229.2 million to the university’s athletic department funding over the next four fiscal years in a 13-1 vote during a Sept. 30 virtual meeting. The athletic operating budget will jump to $190.1 million for the current fiscal year and increase to more than $200 million for each of the next three years. Those figures would give Tech one of the highest athletic operating budgets in the Atlantic Coast Conference. The funding plan calls for student fees to increase by $100 apiece in fiscal years 2027, 2028 and 2029. (The Roanoke Times)

PEOPLE

In late September, the Branch Group announced that CEO Bob Wills plans to step down from leading the Roanoke-based, employee-owned construction firm before the end of 2026. Jason Hoyle has been promoted to the newly created position of chief operating officer and is expected to succeed Wills as Branch’s next CEO under the company’s succession plan. Wills was promoted from chief financial officer to Branch’s CEO in September 2024. (VirginiaBusiness.com)

Shenandoah Valley

Frederick County Economic Development Authority has launched a $200,000 scholarship initiative to help county residents access affordable training in high-demand skilled trades. The money will assist residents pursuing certain FastForward credential programs offered at Laurel Ridge Community College. The scholarship program focuses on sectors targeted for growth by the EDA: electrical and HVAC apprenticeships, welding, heavy equipment operation and mechatronics. Funds will remain available until exhausted or June 30, 2026, whichever comes first. The EDA’s initiative helps address a surge in enrollment in FastForward, a workforce training initiative from Virginia’s community colleges. (News release)

A rezoning application process for land in downtown Harrisonburg for The Link, a proposed six-story, high-density apartment complex, will have to restart after officials discovered a July Planning Commission meeting wasn’t properly noticed. A new hearing, expected to occur this fall, will reconsider rezoning the Lindsey Funeral Home site, allowing high-density development.Developer Timberwolf Capital Partners has proposed building up to 265 apartments,
2,000 square feet of commercial space and at least 400 off-street parking spaces. The project has faced fierce opposition from hundreds of residents in downtown Harrisonburg, with traffic being a big concern. (Daily News-Record)

In September, The New York Times named Maude & the Bear, a restaurant in Staunton, as one of the top 50 restaurants in the United States. Chef and owner Ian Boden repurposed a 2,500-square-foot 1926 Montgomery Ward kit house into a modern restaurant and inn. Maude serves a tasting menu Thursday through Saturday by reservation and a multicourse breakfast for inn guests only. The Times said the restaurant demonstrates “a deep understanding of how to merge exceptional seasonal ingredients into dishes of novel complexity.” The menu evolves regularly based on seasonality. (The New York Times)

NextEra Energy Transmission in September unveiled a proposed route for a 107.5-mile, 500-kilovolt transmission line, the Mid-Atlantic Resiliency Link, which would stretch from Dunkard Township, Pennsylvania, to the Gore substation in Frederick County. The line aims to meet the region’s energy demands identified by regional grid operator PJM Interconnection. The line connects to FirstEnergy’s Gore-Doubs-Goose Creek Improvement Project, which upgrades transmission lines to 500 kV between Gore and a substation in Loudoun County. The projects need approval from the state corporation commissions in each state the lines would pass through. NextEra wants to start construction of the line in 2029.
(The Winchester Star)

Waynesboro received a $50,000 state grant to start at least three new businesses in the city’s Rockfish Gateway area, which attract tourists from Shenandoah National Park. The money was secured through the Community Business Launch Program from the Department of Housing and Community Development. Greg Hitchin, Waynesboro’s director of economic development and , said a contest will open in November where people can submit business ideas. Those who submit ideas can attend a seven-week business planning class and any business that completes that class can give a presentation. The city will pick at least three businesses to receive the funding. (WHSV)

PEOPLE

Retired Shenandoah University President James A. “Jim” Davis, a former state delegate who led the institution through a period of major growth from 1982 to 2008, died Oct. 7 at age 80. Davis was the Winchester university’s 15th president, joining when it was still Shenandoah College and Conservatory. Under his leadership, the institution achieved university status in 1991. During Davis’s tenure, enrollment grew from 874 to about 3,300 students, while SU’s endowment expanded from $500,000 to more than $50 million. The university’s campus footprint also nearly tripled under his leadership — from 45 to 123 acres, with more than 20 new buildings added. (VirginiaBusiness.com)

Southern Virginia

In early October, financially strapped Averett University received three requested consents from the majority of holders of about $13.3 million in bonds, including one that will allow the private university to move forward with a proposed $18.15 million sale-leaseback deal of its North Campus. Averett is working to weather a money crisis that first came to light in 2024. The university also asked bondholders to waive defaults due to it not meeting the required financial metrics and a default due to not meeting a deadline for filing an audited financial report. (VirginiaBusiness.com)

In Chase City, the Robert E. Lee Community Building is one step closer to being converted into market-rate apartments after the Virginia Tobacco Region Revitalization Commission staff on Sept. 23 recommended approval for up to $4 million in low-interest loans to fund the project. The Chase City Industrial Development Authority sought the loan on behalf of Petersburg-based developer Edwin Gaskin of Echelon Resources. Echelon plans to convert the former school building into 17 apartments, with the potential for adding more units in a second phase. (The Mecklenburg Sun)

The former Western Sizzlin building, which opened on Danville’s Riverside Drive in 1978 and closed in 2024, came tumbling down in early October to make way for a new coffee shop. The 1.11-acre property recently sold for $900,000 from The Daniel Group to 7B Real Estate BT Holdings. The group plans to build a 7 Brew drive-thru coffee shop. Wyatt Poats, who handled negotiations for the seller, is working with 7 Brew to bring more locations to Virginia. (Danville Register & Bee)

The Laurel Hotel is slated to open in late 2025 in the former Dan River Co. office building, which once housed offices for Dan River Mills executives. Featuring 36 rooms, the hotel is located near Caesars Virginia. Designed by Lockwood, Greene & Co., a New England-based firm that planned many mills, the building is an example of Italian Renaissance Revival style. The hotel is part of the Danville Hotel Collection, which is owned by Roanoke developer Ed Walker and also includes The Holbrook Hotel and The Bee. (News release)

Martinsville received a $1 million grant from the Virginia Tobacco Region Revitalization Commission to support the redevelopment of the historic American of Martinsville Plant 10, which will be matched by local contributions to support the redevelopment of a former furniture plant, according to a Sept. 26 announcement from the Martinsville Economic Development Authority (EDA). The 98,000-square-foot industrial building will be transformed into a 100-unit, mixed-use development with street-level retail and community amenities. Matching funds will come from the EDA, other grants and anticipated support from local partners. (Martinsville Bulletin)

The Virginia Tobacco Region Revitalization Commission approved $6.7 million in grants for two secretive projects — identified only by code names — in Pittsylvania County. The group approved a $5.7 million grant to help with site development costs for what they call Project Valore, according to a Sept. 25 statement from the commission. Another endeavor, dubbed Project Titan, is in line to get a $1 million grant to help improve access to a project site. The money for both projects is contingent on the prospects making commitments to the unidentified locations. (Danville Register & Bee)

Southwest Virginia

The U.S. Environmental Protection Agency in September awarded a $1.2 million brownfields grant to the LENOWISCO Planning District Commission to support environmental site assessments in Dickenson, Lee, Scott and Wise counties and the city of Norton. Announcing the funding, U.S. Rep. Morgan Griffith said the money will help redevelop hazardous or polluted sites in deep Southwest Virginia. The funding follows a previous $1.2 million grant that supported a community-wide assessment of local brownfields sites, properties that face challenges with expansion or redevelopment due to the possible presence of pollution, contaminants or hazardous substances. (Bristol Herald Courier)

Parkdale, a manufacturer that bills itself as one of the world’s largest providers of spun yarns, closed its Hillsville facility on Oct. 9. According to a notice sent to the state in compliance with the Worker Adjustment and Retraining Notification Act, 68 employees working at the site were set to lose their jobs by Oct. 24. Karen Menting, vice president of human resources for Parkdale, wrote in a letter to Virginia Works that the Carroll County facility’s closure was due to a declining economic environment created by rapidly rising energy costs. She said this created an “unsustainable” business model. (VirginiaBusiness.com)

Vaughan-Bassett Furniture, a Galax-based furniture manufacturer, says demand for its U.S.-made wooden adult bedroom furniture is climbing amid tariffs reshaping the furniture import landscape. President Doug Bassett said that American-made case good companies are experiencing good business in the wake of the tariffs. The company has added hours across multiple departments. It may also soon need to hire additional staff to accommodate the increased production and demand. However, despite strengthening demand, the business has still had to modestly raise prices due to tariffs on component parts and inflation. (BridgeTower Media)

The Virginia Coalfield Economic Development Authority board in September approved nine grants and loans totaling $7.83 million. The funds included $1 million in loans and grants for the Tazewell County Industrial Development Authority to buy and install natural gas utility infrastructure and improvements, an up to $250,000 grant to the Southwest Virginia Community College Educational Foundation for workforce development and training, and $100,000 for the Scott County EDA to finance site development and infrastructure. The board also agreed to commission an updated study identifying sites in the region suitable for future business and industry development. (Bristol Herald Courier)

Visitors spent nearly $1.4 billion in Southwest Virginia last year, up 6% from 2023, reports the Virginia Tourism Corp. In 2024, the region supported 12,379 tourism-related jobs and generated $66.2 million in local tax revenue. Tourism leaders say this has had a positive impact on the region’s economy. The Damascus Trail Center, which opened in 2022, was cited as a popular destination drawing people to the area. Nonprofit Friends of Southwest Virginia is ramping up efforts to market the region while also determining what assets need to be built and developed to plan for future tourism. (News 5 WCYB; news release)

Gov. Glenn Youngkin and county leaders gathered for a ribbon-cutting ceremony in September to celebrate White Rock Truss & Components’$1.5 million expansion in Lee County, which Youngkin announced in late June. The company’s expansion is expected to create 27 jobs and double its production. Established in Lee County in 2005, White Rock Truss & Components manufactures construction products like trusses and engineered lumber, which it supplies to home construction companies and home improvement retailers. (News release)

LOUIS ROGERS

Since Louis Rogers founded in 2012, the real estate investment company has completed over $7.9 billion in transaction volume and grown from handling mainly Delaware Statutory Trust 1031 Exchange offerings to launching a real estate investment trust — of which Rogers is chairman and CEO — and developing and operating properties across the nation.

With nearly 400 employees, Capital Square made the Inc. 5000 list of the fastest-growing privately held companies for the ninth straight year in 2025. The company manages over $6.3 billion in assets and has a 91% occupancy rate across approximately 175 properties.

A graduate of Northeastern University, the University of Oxford and the University of Virginia School of Law, Rogers previously served as president of Triple Net Properties, which he helped found. Before that, he was a partner at Hirschler Fleischer, where he founded the law firm’s real estate securities practice group.

Beginning in the 1990s, Rogers was heavily involved in the development of 1031 exchanges. He was a founder and two-time board member of the Tenant-In-Common Association, now called the Alternative & Direct Investment Securities

Association. Rogers helped draft its first best practices memorandum.

In May, his book, “Section 1031 Exchanges: How to Swap Till Ya’ Drop, Building Family Wealth While Minimizing Taxes,” was published.

A Virginia Commonwealth University Real Estate Circle of Excellence member, Rogers also receives accolades outside of work. The National Multiple Sclerosis Society’s Virginia-West Virginia chapter recognized his contributions to the community with the 2022 Frank N. Cowan Silver Hope Award.

HEARD AROUND VIRGINIA: November 2025

Association Analytics, or A2, an Arlington County-based developer of a data analytics platform built to provide actionable insights for trade and professional associations, announced Sept. 25 that it had completed the sale of key assets to Theatre Capital, a New York-based holding company for software and recurring revenue technology companies, and Trajectory Capital Management, a New York-based technology fund. The newly created entity, A2Holdco, will own and operate A2. Earlier this year, previous owner Julie Sciullo left the company, according to A2. (News release)

Auterion, an Arlington County-based provider of software for military drone swarms, announced Sept. 23 that it had raised $130 million in a Series B funding round led by California-based Bessemer Venture Partners. The company states that the Series B funding will help scale production of its AuterionOS platform and Nemyx defense systems that enable autonomous drones to operate as coordinated swarms in combat. As part of this investment round, Bessemer Partner Alex Ferrara will join Auterion’s board. Other investors in the round include existing investors Lakestar, Mosaic Ventures and Costanoa Ventures. (VirginiaBusiness.com)

Aventra, a Herndon-based defense technology startup, announced Oct. 1 its emergence from stealth mode with $3 million in seed funding led by Lavrock Ventures, an Arlington County-based venture capital fund focused on seed and Series A investments “at the intersection of software, data, cyber and national security.” Aventra was founded by former Army officers and defense tech entrepreneurs Michael Weigand, Brian Retherford and Jessup Meng. The funding will help Aventra to accelerate product development, expand testing operations and boost staffing for Aventra, which develops low-cost glide and guidance systems for long-range precision strikes. (News release)

Manassas-based startup Electra.aero on Oct. 2 announced it is expanding its headquarters in Virginia as well as a location in Bleienbach, Switzerland. At Manassas Regional , Electra is leasing a new 15,000-square-foot hangar and 6,000-square-foot office space, expanding the company’s total footprint in Manassas to 57,000 square feet. This year, Electra has doubled its team from 40 employees to more than 80. The company says the expansion will house development and engineering teams. In Europe, Electra expanded its research and development center. (VirginiaBusiness.com)

Hupside, a McLean-based tech company that develops tools for quantifying originality in thinking and identifying workforce talent primed to work with AI, announced Sept. 30 that it had closed a $1.7 million pre-seed round. The round was led by Ruxton Ventures and included participation from angel investors. Over the summer, Hupside unveiled Hupchecker, an assessment tool that helps companies identify AI-ready applicants. (News release)

On Oct. 7, HyperSpectral announced the close of a $7 million Series A-2 capital raise. The Alexandria-based company combines physics-based spectral data and advanced AI to perform tasks such as detecting pathogens and contaminants. The funding was led by New York-based RRE Ventures and Madrid-based Kibo Ventures. Avalanche Thinking, a Miami-based advisory and investment platform, is among HyperSpectral’s new investors. Vincent D. “Chuck” Mattera, CEO and chairman of Avalanche Thinking, has joined HyperSpectral as chairman. The funding positions the company for a Series B round in 2026. (News release)

Out and About: November 2025

1. George Mason University President Gregory Washington delivered welcoming remarks Sept. 25 at the grand celebration for Fuse at Mason Square, the university’s $254 million digital innovation space in Arlington County. (Photo courtesy George Mason University)

2. Candice Thompson, chief operating officer of Kilgo Insurance, a Chesterfield County-based independent insurance agency, received the Customer Service Representative of the Year award from Mark Suhr, president of the National Association of Professional Insurance Agents, during a Sept. 16 luncheon in Alexandria. (Photo courtesy Kilgo)

3. U.S. Transportation Secretary Sean Duffy spoke Sept. 24 at a celebration marking the completion of mining operations for the Hampton Roads Bridge-Tunnel Expansion Project. (Photo by Kaitlyn DeHarde, courtesy Office of Gov. Glenn Youngkin)

4. Local elected officials, community members and spiritual leaders broke ground Oct. 7 on an eight-story Critical Care Tower at Bon Secours St. Mary’s Hospital in Henrico County. (Photo courtesy Bon Secours)

5. Gov. Glenn Youngkin joined Lego Group Vice President Preben Elnef, Lego Manufacturing Virginia General Manager Jesus Ibañez and others at the Oct. 1 topping-out ceremony for the Danish company’s $1 billion Chesterfield facility. (Photo by Katherine Schulte/Virginia Business)

6. Virginia Housing CEO Tammy Neale receives her 2025 Virginia Women in Leadership Award from Virginia Business Associate Publisher and Editor Richard Foster.

7. Virginia Women in Leadership honoree Kim Davis, executive director of Friends of Southwest Virginia

8. Brown Edwards CEO Laura Sprouse

9. L to R: Charlottesville Regional Chamber of Commerce President and CEO Andrea Copeland, a Virginia Women in Leadership honoree, and her sister, Shannon Copeland 10. Virginia Women in Leadership honorees Cynthia Spanoulis, president and CEO of the Virginia Aquarium; Delceno Miles, president and CEO of The Miles Agency; and Nancy Helman, director of the Virginia Beach Convention and Visitors Bureau