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I would love to think they would build something tall and signature-ish, but that property is so big that they could conceivably spread out 400,000 sq ft across that parcel with maybe 3-4 stories, max.  Maybe, they won’t build on the entire parcel and go for a tall, signature tower!  Maybe another company will go in on the deal with them and share the new building, making the building even taller.  There are many possibilities here.  Just hoping for something good!  Please don’t disappoint us, CoStar!

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This is an excellent opportunity for a mixed-use development.  Office, hotel, and riverfront condos would be perfect (their views could never be obscured).  Really hope that Costar nails this one.

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Here's hoping, guys! While it's pretty unrealistic for us to hope they would put up a 40-plus-story tower, I think we CAN at least hope that they won't go short and squat. If they partnered with the right folks, a multi-tower mixed-use complex would fill that parcel very nicely. The CoStar tower... (maybe we could hope for 25 stories?? I know... I'd love MUCH bigger as well - but we've gotta be realistic...) ... maybe a high-rise hotel... and a couple of residential towers, with the residential buildings right on the riverfront and the office building the farthest inland... 

I'm afraid to get my hopes up that this will be a killer project - but it's hard not to hope that CoStar teams up with some folks and seriously nails this!

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Oh please... please be taller than 6-10 stories (or whatever they have now). I won't get my hopes up for signature tower heights, but SOMETHING to add more vertical density to the skyline.

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Just for comparison, Dominion Energy has about 1,000 people working (or assigned to work) in its new 20-story tower.  So far, CoStar employs 1,000 people in Richmond.  Dominion Energy's new tower is just under 1 million sq feet.  CoStar was calling for an office building of only about 400,000 sq feet back when it was planning to move to Navy Hill before that project died.  The current WestRock/CoStar building totals 310,000 sq feet.  Take what you will from those figures, but thought these might help us set our expectations.  However, it is anyone's guess what will happen here.  Best case scenario is that CoStar partners with a developer looking to do a mixed use project that will include office space for CoStar and also housing, hotel, retail, etc...and a new tall (even signature) tower is born downtown.  Worse case scenario is that this project ends up being a squatty 5-6 story, cubic suburban piece of poo.

Edited by eandslee
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I think I'll lose my mind if they announce something with a short, flat, squat design. Really hoping for a multi-building mixed-use complex that CoStar develops in conjunction with other major developers who are really looking to go all in to put up a dazzling complex on the Richmond riverfront. I'd love nothing fewer than four towers built into a complex - the primary tower - CoStar's HQ - plus a hotel tower and a couple of high rise condo towers.

PLEEEEEASSSE!!!

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rjp212 - thanks! Great information and lots to think about. Since apartment construction, including high rise, has been chugging long in the last couple of years, perhaps that would be the better option if residential buildings could be included as part of any kind of complex there.  I'd love to see the Foundry Park subform and see what's there!

4 hours ago, Wahoo 07 said:

If this is done right, it could really boost the Canal Walk.  Adding hotel guests and/or permanent residents would transform the western end of it.  Foundry Park could be the catalyst that unlocks the area around Gamble's Hill and Monroe Ward.  Here's hoping!

AMEN!

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Would this be the Foundry Park subfolder?  A lot of pictures and links are broken/missing so it's hard to tell what may have been proposed 12 or 13 years ago. Hopefully it can be unarchived so we can post new information regarding the potential CoStar development here.

Man -- the crash of 2008 really wiped out a lot of good stuff that Richmond could have had a decade-plus ago. Centennial Towers... the James Center expansion (Three James Center being boosted to 26 stories??? Holy moly... and the other towers built that were part of the original 1983 James Center plan???) ... 16 and 20-story residential towers in Manchester...  Imagine if the crash of '08 doesn't hit - how much different Richmond might look today.

 

Edited by I miss RVA

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Perhaps at least a mixed use tower of both residential and commercial can be built to add height to COSTAR's potential development. 

 

Edited by Shakman
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22 hours ago, rjp212 said:

At the Costar lot, sure.  With the hillside next to Civil War Museum, NewMarket and War Memorial, that would be completely out of place/context.  Something akin to Georgetown waterfront's scale would be more appropriate here.    Still some decent height, but allows for the taller buildings to be towards the hilltop and won't dwarf the museums.  Plazas and parks that can still be used for festivals, outdoor dining, etc.

Agreed.  It's a good spot for some interesting architecture and layered depth.

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22 minutes ago, wrldcoupe4 said:

Costar has purchased the 4 acres for $20m per BizSense. 

Boy, CoStar must have some very deep pockets!  I think it is possible they they won’t used all 4 acres for their tower...is it possible that they could have bought all this land to build their tower as well as for an investment?  That way they can control the area around their tower and make it how they want it to be.  I would love to think they’d move their entire HQ from DC to Richmond, plus maybe convince a few other DC companies to move down to Richmond with them and build a series of towers right there at Foundry Park!  Pfew!  Maybe I’m over thinking this? :D

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2 hours ago, eandslee said:

Boy, CoStar must have some very deep pockets!  I think it is possible they they won’t used all 4 acres for their tower...is it possible that they could have bought all this land to build their tower as well as for an investment?  That way they can control the area around their tower and make it how they want it to be.  I would love to think they’d move their entire HQ from DC to Richmond, plus maybe convince a few other DC companies to move down to Richmond with them and build a series of towers right there at Foundry Park!  Pfew!  Maybe I’m over thinking this? :D

I definitely cannot imagine them building something suburban with that land value!

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8 hours ago, Icetera said:

I definitely cannot imagine them building something suburban with that land value!

They paid so much for the land maybe all they can afford to build now is a low rise :tw_grin:

Edited by wrldcoupe4
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1 hour ago, wrldcoupe4 said:

They paid so much for the land maybe all they can afford to build now is a low rise :tw_grin:

It's funny - we laugh, but you may not be wrong.  I've been disappointed before.  Just hoping for the best!

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