Jump to content

TBurban

Dominion Resources: New High-rise Building Planned for Downtown

Recommended Posts

Amen to that!  And why is it that city leaders don't see that? I mean if you lower your tax rate, it appears as if you will lose money, but the fact is that if you significantly lower your rate, more businesses come in making up for the lost tax revenue when the rates were lowered. It's not that difficult to understand. Simple economics really. It's frustrating to me to watch Richmond continue to defeat itself. 

Share this post


Link to post
Share on other sites


What are the business Tax Rates for the city vs the adjacent counties?  I did a quick look on line and it's not that clear or that easy to verify, though I could be looking incorrectly. The city taxes more because of the following - is this accurate - I feel like I've heard this argument before.

A few things that make a difference when comparing the city vs the county(s)

  •  a large portion of the population that live in the city have lower home prices = lower taxes, many are just poor.
    • Henrico & Chesterfield - homes and incomes of all ranges & shopping = $
    • young live in the city - leave when they marry and make the most money and it stays in the county.
    • Richmond City - 214K people
    • Chesterfield - 328K people
    • Henrico - 319K people
  • do city, state gov't & universities pay tax?
  • apartments (RIC) vs ownership (counties)
Edited by hikendesign

Share this post


Link to post
Share on other sites

Just a question, what is the square footage of dominions current tower?

One James River Plaza:  433,920 above ground; 258,894 below

8th & Main: 341,760

per city records

Share this post


Link to post
Share on other sites

One James River Plaza:  433,920 above ground; 258,894 below

8th & Main: 341,760

per city records

Thanks for the info. Ive been looking at some buildings that fit the description of what their looking for and I found that One Tampa Center fits the description pretty well. It also has the square footage that dominion currently has in its  two buildings, it's just combined into one tower. Tell me if you guys think this is pretty accurate.

 

https://en.m.wikipedia.org/wiki/One_Tampa_City_Center

Edited by blopp1234
  • Like 2

Share this post


Link to post
Share on other sites

Thanks for the info. Ive been looking at some buildings that fit the description of what their looking for and I found that One Tampa Center fits the description pretty well. It also has the square footage that dominion currently has in its  two buildings, it's just combined into one tower. Tell me if you guys think this is pretty accurate.

 

https://en.m.wikipedia.org/wiki/One_Tampa_City_Center

They also have the Tredegar campus (3 buildings) and the GRTC Bus Depot campus that may be relocated as well.  I keep forgetting to throw all of the square footages up here so hopefully I will remember tonight.

Share this post


Link to post
Share on other sites

Well I found out an interesting tidbit regarding dominions new high rise. My cousin who works downtown for a marketing firm in manchester had heard from a friend of hers that dominion is supposed to be picking there construction team for the new high rise in December so who knows maybe sometime in December we could learn more about it.

Sent from my iPhone using Tapatalk

  • Like 1

Share this post


Link to post
Share on other sites
17 hours ago, Downtowner said:

Wonder what it would be like with the news about Carmax today if Dominion would be interested in adding Carmax as a tenant in Dominion's new tower.

The security requirements from jbjust is probably true, but I like where you are going with that idea.  I'm really hoping an announcement comes out soon on this.  I really would like to see some details.  This thing has been in the works for a while now (even about a year before the announcement last May).  I just hope it doesn't disappoint.  Come on Dominion and pull off something amazing!

Share this post


Link to post
Share on other sites

There is a huge glut of space in James Center and naming rights are available for the building.  If CarMax needs a significant amount of space in the next year, that is the obvious place for them to go. 

Share this post


Link to post
Share on other sites

We'll... That's more an exception to the rule, isn't it? Rarely does the anchor tenant turn down signage. TowneBank is the 2nd largest tenant. If Carmax took 20k s.f. and they have 250,000 s.f. available in a bldg, then it's unlikely Carmax gets signage because the landlord will want to hold on to the signage rights for a much larger user.

Share this post


Link to post
Share on other sites

Signage rights aren't that important to professional services firms (e.g., law firms and accountants).  It's seen as a little tacky, honestly, for anybody other than consumer-oriented businesses.  There are big tenants in James Center 1 that don't want the rights -- Dixon Hughes and Davenport -- so taking 2-3 floors of that building would be more than enough to snag the naming rights.  

  • Like 1

Share this post


Link to post
Share on other sites

We'll have to agree to disagree, since it runs contrary to the desires I witness between many tenants and landlords. Some companies don't care about it, some very much so (including professional services firms). In any case, I wouldn't mind seeing their name downtown. 

Share this post


Link to post
Share on other sites
1 hour ago, wrldcoupe4 said:

We'll have to agree to disagree, since it runs contrary to the desires I witness between many tenants and landlords. Some companies don't care about it, some very much so (including professional services firms). In any case, I wouldn't mind seeing their name downtown. 

My only point is that if they moved in to James Center 1 and took a couple of floors, there wouldn't be another tenant in the building that both (a) could conceivably want naming rights; and (b) has a stronger claim on naming rights than CarMax.  

 

 

Share this post


Link to post
Share on other sites
34 minutes ago, eandslee said:

 

They have been planning for at least 6 months for this project so it must involve a significant amount of money and planning(which hopefully means it will be tall:rolleyes:). If they don't come out with plans by the end of the month, it could mean that the project was postponed or they will wait to release the plans after they finish demolishing the current Richmond Plaza building.

Edited by blopp1234

Share this post


Link to post
Share on other sites

Demolition of Plaza Building will start this summer, construction later in the year.  Tower will be ready in summer 2019. Hourigan/Clayco to construct.  Packard Chilton will be arch. design.  PDR Corp interior design.  Timmons Group and Kendall/Heaton also part of the project team.  Looking forward to it!

  • Like 2

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.