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VCU Developments


wrldcoupe4

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4 hours ago, Brent114 said:

The ICA looks great.  The effects of the patina have been exaggerated (and patinas make e very surface look better IMO).

The ICA has been using the glass  windows (the decals are not affixed  to the metal) occasionally as exhibiting apace since it opened.  And the current installation is exquisite.   I really miss the “you bing here” neon light piece.  That one was very  pretty at night. 

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I'm with you, @Brent114-- the colored panels really livens up that side of the building and gives a nice visual break from the otherwise interesting (in terms of the shape and angles) but somewhat monolithic grey. It's a nice contrast. I do like it!

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Update on the VCU-Block-D debacle from Jonathan Spiers. Wow... so that cool, crisp $73 mil that VCU is paying out isn't all they're on the hook for. It runs a tad deeper.

From today's Richmond BizSense:

https://richmondbizsense.com/2023/05/12/73m-and-counting-vcu-health-on-the-hook-for-millions-more-in-downtown-project-exit-costs/

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1 hour ago, I miss RVA said:

Update on the VCU-Block-D debacle from Jonathan Spiers. Wow... so that cool, crisp $73 mil that VCU is paying out isn't all they're on the hook for. It runs a tad deeper.

From today's Richmond BizSense:

https://richmondbizsense.com/2023/05/12/73m-and-counting-vcu-health-on-the-hook-for-millions-more-in-downtown-project-exit-costs/

At least most of the rest goes towards the city, so it does not sound that bad for us.

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Just saw a headline in the RTD that CoStar is giving VCU $18M to go toward the Arts and Innovation building and will be named after CoStar!  Article is behind the paywall, so can’t read it. However, some of you have subscriptions and should be able to read it.   This is an interesting development for sure!  CoStar to the rescue!

Also, it appears that VCU will be breaking ground on their Athletic Village later this year as well - starting with a $38M track and field facility. 

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On 5/13/2023 at 6:35 AM, eandslee said:

Just saw a headline in the RTD that CoStar is giving VCU $18M to go toward the Arts and Innovation building and will be named after CoStar!  Article is behind the paywall, so can’t read it. However, some of you have subscriptions and should be able to read it.   This is an interesting development for sure!  CoStar to the rescue!

Also, it appears that VCU will be breaking ground on their Athletic Village later this year as well - starting with a $38M track and field facility. 

WHATTTTT??? REALLY?? Oh wow - that's fantastic!

BTW - re: the article: I'll see what I can do... (channeling my best Tony Soprano)

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On 5/13/2023 at 10:02 AM, 123fakestreet said:

Finally

https://richmond.com/news/local/education/vcu-to-start-construction-on-athletics-village-this-fall/article_3adfa51e-f0d3-11ed-ab13-0bf666465df9.html

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Looking at the parcel mapper, those 2 "ghost" buildings in the lower right corner and middle right are not owned by VCU. I would imagine they'll try to get them at some point, but for now they will remain an HVAC distributor and an ugly warehouse for records storage and shredding.

The records place is definitely still active, at-least the smaller building.  Records boxes are visible in the larger building but not much sign of activity.

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I meant to post the RT-D's updated reporting to this story a couple of days ago. Looks like the city is now accusing Capital City Partners of sandbagging about problems with the development and the project status in late 2021 - problems to which, apparently, CCP alerted VCU but hid from the city. At least that's the city's story - and there appears to be evidence that supports this assertion. (Looks like the RT-D has also been busy with FOIA requests!👍)

Wow...

From Friday's Richmond Times-Dispatch:

https://richmond.com/business/in-failed-vcu-health-deal-city-questioned-developers-honesty/article_e55544e2-f653-11ed-be58-4bcfa312d937.html#tracking-source=mp-homepage

ANNNND - while we're at it, here's updated reporting from today's Richmond BizSense:

https://richmondbizsense.com/2023/05/22/finger-pointing-default-notices-preceded-vcu-healths-costly-project-exit/

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The failed Navy Hill project looks more and more like a blessing in disguise. We will probably get a new arena out of the Green City project, but I don't have a lot of trust in CCP in building what they promised outside of the arena.

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@eandslee-- AMEN, brother! I've been increasingly having the same concerns and misgivings. Unfortunately, all of these revelations puts things in a whole new light - and I pray Green City doesn't fall victim to the same problems with CCP. They need to deliver on this - because the media for them (CCP) is already quite bad (and getting worse by the day) - and it would appear that, at least with Block D, they've blown both feet off.

@asies-- image.jpeg.bb8eefec6913ef894b14d514581558c1.jpeg!!  Fully agreed.

Wow... it puts all of the problems and the collapse of the Navy Hill plan into perspective. The city could have been left holding the bag and on the hook for God Himself only knows what if CCP bailed or suddenly "couldn't deliver". Hindsight is 20/20, of course, but wow - but looking at this through a retrospectives lens really does make you wonder.

Edited by I miss RVA
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16 minutes ago, eandslee said:

Really hope CCP isn’t pulling the same thing on Henrico. Gosh, that would be tragic!

If it’s tragic for anyone it’s the developers both Susan eastridge and Michael hallmark. They may as well tak their business elsewhere if they screwed on the henrico deal too. If I was henrico they should have just put out a request for proposals like the city did with the diamond. If that project gets in legal limbo too could that put the city at a second chance to do it the correct way? Could it open the door to go about the arena in a more responsible more appropriate way? I’m starting to not hold my breath on green city now. I have yet to see any construction equipment or anything on that job site where the old best products hq is. Does anyone know what the current and next steps of green city is/was? I’d like to know when construction may actually start on this. 

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7 minutes ago, Downtowner said:

If it’s tragic for anyone it’s the developers both Susan eastridge and Michael hallmark. They may as well tak their business elsewhere if they screwed on the henrico deal too. If I was henrico they should have just put out a request for proposals like the city did with the diamond. If that project gets in legal limbo too could that put the city at a second chance to do it the correct way? Could it open the door to go about the arena in a more responsible more appropriate way? I’m starting to not hold my breath on green city now. I have yet to see any construction equipment or anything on that job site where the old best products hq is. Does anyone know what the current and next steps of green city is/was? I’d like to know when construction may actually start on this. 

@wrldcoupe4-- how do you assess CCP's situation? I realize you may not be at liberty to share everything you might know, but I'd like to have a better understanding as to how they (CCP) stack up against others in the industry - and if the industry is casting a wayward eye toward them now, given the snowballing bad press they're receiving. Is all of this overblown, in your opinion, or do you think we might have legitimate concerns about the future of Green City, given their recent track record of swings and misses with Navy Hill and now Block D? Is Green City (and working with Henrico) an apples-to-apples or apples-to-oranges comparison to CCP's dealings with NH, Block-D, and the City of RIchmond?

Edited by I miss RVA
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4 hours ago, I miss RVA said:

@wrldcoupe4-- how do you assess CCP's situation? I realize you may not be at liberty to share everything you might know, but I'd like to have a better understanding as to how they (CCP) stack up against others in the industry - and if the industry is casting a wayward eye toward them now, given the snowballing bad press they're receiving. Is all of this overblown, in your opinion, or do you think we might have legitimate concerns about the future of Green City, given their recent track record of swings and misses with Navy Hill and now Block D? Is Green City (and working with Henrico) an apples-to-apples or apples-to-oranges comparison to CCP's dealings with NH, Block-D, and the City of RIchmond?

I definitely see this as a grenade question. Especially if thee partners are about to get some very bad egg on their faces. At the moment when I pass 95 or drive down parham for my electrical class in rva I see nothing at all being done around that area. It really worries me but it also makes me wonder if it gets Richmond a second chance at this but then able to do it in a more responsible way, put a rfp out get s number of developers narrow down the list of potential groups and then figure out all the other stuff legality financing etc. 

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Dunno if anyone caught this, but @RVABizSenseMikehas reporting this morning about VCU's purchase of the former BookHolders property at 720 W. Grace. This is the final piece of the land puzzle necessary for construction of the proposed Honors dorm (at Laurel & W. Grace), which is featured in the most recent VCU One master plan. Funding for the dorm is anticipated in the 2024-26 biennium (if memory serves). The rendering in the master plan shows a design very similar to the Gladdings dorm at Laurel and W. Main. Although the dorm will be considerably smaller then Gladdings, the significantly smaller overall footprint will be offset by verticality - the renderings show the building height at 12 stories.

Now - what's REALLY interesting in Mike's reporting is THIS nugget about VCU's property immediately east of this site:

Adjacent to the parcel to the east is 708 W. Grace St., where VCU recently demolished the former Sally Bell’s Kitchen building to make way for another dormitory project in the future.

Again, quoting Anna from Frozen - WAIT - WHAT?!?!?!?!? ANOTHER dorm project - just east of the Honors dorm? It's not mentioned in the 2019 VCU One plan - perhaps whenever they next update their master plan we'll see it?

Given the small footprint of the property - either it would be a relatively small buildings (meaning, a small number of rooms) - or - it will have quite a bit of height to it to accommodate however many rooms VCU plans out for the site. My best guess is it will be the latter - probably in the 10-12 story range if past is prologue, giving this block of W. Grace a look and feel very similar to the 900-908 block of W. Grace where two larger, double-digit floor buildings are immediately adjacent to one another.

Didn't see THAT one coming, folks!

From today's Richmond BizSense:

https://richmondbizsense.com/2023/05/24/vcu-adds-bookholders-building-to-its-real-estate-collection-with-3m-deal/

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Edited by I miss RVA
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49 minutes ago, I miss RVA said:

Given the small footprint of the property - either it would be a relatively small buildings (meaning, a small number of rooms) - or - it will have quite a bit of height to it to accommodate however many rooms VCU plans out for the site. My best guess is it will be the latter - probably in the 10-12 story range if past is prologue, giving this block of W. Grace a look and feel very similar to the 900-908 block of W. Grace where two larger, double-digit floor buildings are immediately adjacent to one another.

VCU owns that entire side of the block including the two empty lots between this site and the Facilities and Financial Mgmt. building at Grace and Pine, so they have a bit of space to work with there.

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  • 4 weeks later...
11 hours ago, blake_p said:

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Great shots, @blake_p!! You've definitely earned your silver hardware for this week with so many great photos!! WOWZERS!!

Man -- the STEM building is a BEAST!! (in a good way) - VERY beefy building - and quite a presence on Franklin Street. LOVE IT! And the Tech center is really coming along! Now - this parking lot is where - SW corner of Belvidere and Grace, yes? Do we know (top of head) what VCU has planned for that slice of Richmond? Surely that parking lot can go hasta la bye bye in the next few years, no?

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