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wrldcoupe4

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Seems like Ethyl is preparing to sell the huge 9 1/2 acre site next to the federal reserve for development!!!

Once rezoned, this development could accomodate multiple highrises and become the western anchor to the Canal Walk!

I'll post the article soon!

This is a HUGE DEAL

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here is the site in question:

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in relation to the rest of the riverfront/canal walk (it's #1)

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Richmond Riverfront

here is the style weekly article about it:

Ethyl Plans to Sell Canal Property

"Scott Boyers, a real-estate agent with Grubb & Ellis/Harrison & Bates who specializes in downtown properties, says the land would be the perfect fit for a mixed-use project that would include office space.

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What about Ghazi? As Eric points out, do you think he may be involved in this speculative news?

I wouldn't object to low-rise along Tredegar Street, but I do not believe that the height restriction would apply to the area closer to Byrd street.

We expect you to get the inside scoop, coupe! :lol:

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hahaha I'll see what I can dig up :)

I don't think its Ghazi personally though, partly because they havent seemed very sure of themselves in Richmond (i.e. a location). Also, Ethyl/New Market Corp. tend to stick close to home when it comes to things like this as the article pointed out. I also heard that from a verrry big person (arguably the pinnacle:)) in Richmond real estate...

So we'll see. I'd love to see Ghazi there. We know they are more than capable of pulling off high-rise modern looking mixed-use developments. Just look at their epi-centre in Charlotte or their bottleneck district(I think that's the name) in St. Louis. We need a 24 hr downtown and this parcel should be a big step in doing that if properly developed....

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As I mentioned on RCW about today's Biz section story dealing with vertical farms, 3 or 4 tall greenhouses on the site wouldn't add many people to downtown's mix, but probably would be profitable and add to the skyline. OK - no brickbats please! :lol: Just speculating

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okay...seems like the plan is for 2-3 highrises of about 40 stories, which will be mixed-uses. There will also be entertainment and retail along Tredegar, which will be closed for pedestrian traffic between 5th and 7th st's. A large green area with fountains and possibly a canal extension are in the works as well. a couple major Richmond companies are interested deeply in relocating their offices from suburban richmond to the cbd....ground should break in early to mid 2006........

That's what I hope I'll be able to tell you guys... :rofl: Hopefully I had you going there for a second. That would probably be my wishlish for the property. mwahahaha

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okay...seems like the plan is for 2-3 highrises of about 40 stories, which will be mixed-uses. There will also be entertainment and retail along Tredegar, which will be closed for pedestrian traffic between 5th and 7th st's. A large green area with fountains and possibly a canal extension are in the works as well. a couple major Richmond companies are interested deeply in relocating their offices from suburban richmond to the cbd....ground should break in early to mid 2006........

That's what I hope I'll be able to tell you guys... :rofl: Hopefully I had you going there for a second. That would probably be my wishlish for the property. mwahahaha

<{POST_SNAPBACK}>

You rat!!! :lol: I KNEW you couldn't get to your sources that fast.

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so I've heard but can't confirm that either 1 of 2 things (or both) is happening here.....

#1- The Federal Reserve is buying part or all of the property...

#2- A company called something like Land Development is purchasing the property....

That's all I got.

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so I've heard but can't confirm that either 1 of 2 things (or both) is happening here.....

#1- The Federal Reserve is buying part or all of the property...

#2- A company called something like Land Development is purchasing the property....

That's all I got.

<{POST_SNAPBACK}>

I'm afraid that if the Federal Reserve buys the property, then they would just keep it as a parking lot and not build anything tall on it. I imagine that the current building they are in is sufficiently big enough for them right now...I can't imagine what else they would want for that property other than to us it as parking lot. Yuck! :sick:

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Eric, the Fed Reserve bought the practically new Helig/Myers headquarters in West Creek a year or so ago and moved some workers there (it's a 200,000 s/f building), so it makes me think they're getting pretty cramped downtown.

<{POST_SNAPBACK}>

Still, I think that even if the Federal Reserve were to move the employees from West Creek to downtown, about 200,000 square feet is still too small of a building to place on that property. In fact, it would be a disappointment in my view unless they were to sell the other parts of it to other developers to build on it as well. I'd really like to see something really nice and tall on that property...anything less would be, like a said earlier, a disappointment. I don't know, what do you all think?

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I agree.... I think one thing we should pay close attention to is that the Ethyl person in charge of the sale of the property said something to the effect that this sale was phase I of development of the property..... keep in mind it's actually several parcels of land, not just one big one. I think the Fed Reserve could build something on part of the land, with other development around as well perhaps?

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