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Richmond off-topic postings


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^^^Having lived in Richmond before and now Charlotte, I will tell you same thing. Two different places. I love them both for different reasons. Believe me, anyone here will tell you they'd swap out a Wells Fargo office tower for one of Richmond's neighborhoods like the Fan or just some of the character. With all the construction here, it's taken away what character was here.  Throw me a Veil IPA too :)

Edited by HopHead
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2 hours ago, Shakman said:

Since we are Richmond, let's just stick with Richmond.  

In my defense, I did post this in the off-topic section and one of the points I was trying to make was that Charlotte was once a peer city, but the economic growth there has left Richmond in the dust...after they robbed Richmond of its banks and there has been mention that an airline hub was planned here at one time that also ended up in NC (although I haven’t read anything official on that.  If anyone has a link to more info on that please let me know).  I realize Charlotte has nothing on Richmond with regard to character and charm, but it has squashed us economically - an economy which could have all been ours.  That’s all I’m trying to say. 

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9 minutes ago, RiverYuppy said:

Well speaking of not RVA, apparently Amazon has cancelled its NYC HQ.  

I wonder if that could lead to them increasing their presence in NoVA and us seeing larger ripples.

Would love to see them reach down to the Richmond area for help...even if it’s just a smaller satellite campus or something. 

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7 hours ago, eandslee said:

In my defense, I did post this in the off-topic section and one of the points I was trying to make was that Charlotte was once a peer city, but the economic growth there has left Richmond in the dust...after they robbed Richmond of its banks and there has been mention that an airline hub was planned here at one time that also ended up in NC (although I haven’t read anything official on that.  If anyone has a link to more info on that please let me know).  I realize Charlotte has nothing on Richmond with regard to character and charm, but it has squashed us economically - an economy which could have all been ours.  That’s all I’m trying to say. 

Many of the things you all reference were disadvantages caused at the state level. We are in a Dillon Rule state with independent cities and a moratorium on annexation . It sets us back in many places all over the state. 

Edited by wrldcoupe4
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The 25k jobs that were going to New York will be split among cities that already have big Amazon offices.

"Spokesman Adam Sedo confirmed in an email to the Business Journals that the 25,000 jobs planned for New York will be spread among these cities or metropolitan areas: Atlanta, Austin, Boston, California's Bay Area, Chicago, Dallas, Denver, Detroit, Los Angeles, Minneapolis, New York, Phoenix, Pittsburgh, Portland, San Diego, Toronto and Vancouver"

I'm reposting this from a post that The ATX made in the Austin forum.

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On ‎2‎/‎14‎/‎2019 at 1:08 PM, eandslee said:

In my defense, I did post this in the off-topic section and one of the points I was trying to make was that Charlotte was once a peer city, but the economic growth there has left Richmond in the dust...after they robbed Richmond of its banks and there has been mention that an airline hub was planned here at one time that also ended up in NC (although I haven’t read anything official on that.  If anyone has a link to more info on that please let me know).  I realize Charlotte has nothing on Richmond with regard to character and charm, but it has squashed us economically - an economy which could have all been ours.  That’s all I’m trying to say. 

Understood.  I'm just trying to prevent a city vs city scenario.   I'm strong believer everything happens for a good reason.  We have to remove the piles of debris and see the good which lies underneath.

Edited by Shakman
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So I hate to be a Debby downer tonight but I really have been worried lately with all about Richmond from the navy hill development to the uncertainty of who our next economic leaders will be with Barry matherly gone and Kim scheeler leaving next year does anyone know who replaces them. We haven’t had a big company move there headquarters to Richmond for a while now. Just wishing we had more Fortune 500 companies moving here and more private companies in general looking to establish a large amount of offices or employees here. I guess I’m just worried about what the future holds for not just downtown but the whole metro as I have also kept hearing how there is a lack of housing to meet the demand for people to buy or rent homes. I’ve read various articles on realtors saying there is a lack of inventory for people to buy homes and homes are selling quicker than ever because inventory in our metro is at a pretty low point right now. Just been feeling kinda ho hum since there hasn’t been much development news lately other than vcu. I just feel like there is a ton of uncertainty going on right now. Or is it that all the developments are being held up due to seeing what happens to the navy hill development? I guess I just wish we had more private companies and way more private development going on here in Richmond. While yes vcu and local government is nice I feel like there is a huge void in private development lately here in not just the city but the whole metro area.

 

 

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Unfortunately, I do not see Richmond landing a Fortune 500 HQ relocation in the near future. I do believe the city's local businesses will continue to grow and maybe one of them might pop up on the Fortune 1000, specifically Union Bank. Perhaps some small companies might be priced out of NoVA with Amazon coming that way.  There are at least 3 office projects planned for Manchester currently and I'd imagine we will hear a few smaller ones throughout the city this year.  I was also talking to a Construction Manager for the Facebook project and he said they plan on doubling the space AGAIN beyond what was originally announced.  Not sure how reliable that source is.

Where I see the next potential for a mid to high rise tower in the city coming from, would be Hotel and Residential growth.  Richmond is really beginning to hit it's stride in Tourism, specifically the food/drink market. I wouldn't be surprised to see another hotel or two planned for downtown (outside of Navy HIll).   While I am new-ish to the Richmond Market, I've been in the Real Estate industry for 10 years (Charlotte and DC). and it's my first time ever seeing Apartment Complexes rent out prior to opening like they do in Richmond.   With the recent up-zoning in Scott's and Manchester, there will definitely be more apartment towers announced in the city.  Homes on the market continue to receive multiple bids and prices continue to rise.  You can expect a few in-fill projects to be announced this year too (According to bizsense, Townhomes on Semmes just got approved yesterday, and a suburban developer just announced one of his first city projects in Union Hill).

Richmond was draining population for years and it's still recovering from that time.  It needs to continue to expand on it's park system and work on bettering the schools, but I think Richmond is doing a good job at a maintaining a steady growth.

Just my .02 to cheer you up, @Downtowner :tw_smile:

Edited by rjp212
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Shamin hotels is HQed in Chester.  Also APLE, which is a publicly traded hospitality focused REIT.  It would be nice if one of them would put up another hotel here.

I think what we have seen in the last couple of years is a shift in companies in the region.  A ton of smaller companies have moved from the suburbs into the city.  If you look at a lot of the companies that were going into Scott's Addition, you'll see they moved from Chesterfield or Henrico.

Other big moves have been larger companies putting outposts downtown.  Carmax converted a decent size building downtown to an officeCapital One completely renovated an abandoned looking ~6 story building downtown. Owens and Minor took four floors of class A office space off the market downtown. Local insurer Kinsale is building an HQ and apartments just a few blocks out of Scotts Addition proper.

Also Dominion is putting up its two new towers.

I think we have to look at why more of Carmax, Altria, Capital One, Genworth, etc. don't want to be in downtown RVA.  It would be a whole lot easier for them to move than out of region companies. 

Edited by RiverYuppy
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8 hours ago, rjp212 said:

Unfortunately, I do not see Richmond landing a Fortune 500 HQ relocation in the near future. I do believe the city's local businesses will continue to grow and maybe one of them might pop up on the Fortune 1000, specifically Union Bank. Perhaps some small companies might be priced out of NoVA with Amazon coming that way.  There are at least 3 office projects planned for Manchester currently and I'd imagine we will hear a few smaller ones throughout the city this year.  I was also talking to a Construction Manager for the Facebook project and he said they plan on doubling the space AGAIN beyond what was originally announced.  Not sure how reliable that source is.

Where I see the next potential for a mid to high rise tower in the city coming from, would be Hotel and Residential growth.  Richmond is really beginning to hit it's stride in Tourism, specifically the food/drink market. I wouldn't be surprised to see another hotel or two planned for downtown (outside of Navy HIll).   While I am new-ish to the Richmond Market, I've been in the Real Estate industry for 10 years (Charlotte and DC). and it's my first time ever seeing Apartment Complexes rent out prior to opening like they do in Richmond.   With the recent up-zoning in Scott's and Manchester, there will definitely be more apartment towers announced in the city.  Homes on the market continue to receive multiple bids and prices continue to rise.  You can expect a few in-fill projects to be announced this year too (According to bizsense, Townhomes on Semmes just got approved yesterday, and a suburban developer just announced one of his first city projects in Union Hill).

Richmond was draining population for years and it's still recovering from that time.  It needs to continue to expand on it's park system and work on bettering the schools, but I think Richmond is doing a good job at a maintaining a steady growth.

Just my .02 to cheer you up, @Downtowner :tw_smile:

Well, although WestRock left for Atlanta, homegrown Markel Corp recently joined the F500. Lumber Liquidators is an F1000 that was previously a F500, so it very well could re-join after their move to Richmond at Libbie Mill. And we still have CarMax, Altria, Dominion, Performance Food Group, Owens & Minor, and Genworth all in the F500.  We should be so lucky to have this many F500s in our midsize market, only a stone's throw away from the Northern VA behemoth. You're right, if we can continue to improve on our schools, *public transportation*, and making our community amenities more attractive, we'll be in good shape.

5 hours ago, RiverYuppy said:

Shamin hotels is HQed in Chester.  Also APLE, which is a publicly traded hospitality focused REIT.  It would be nice if one of them would put up another hotel here.

I think what we have seen in the last couple of years is a shift in companies in the region.  A ton of smaller companies have moved from the suburbs into the city.  If you look at a lot of the companies that were going into Scott's Addition, you'll see they moved from Chesterfield or Henrico.

Other big moves have been larger companies putting outposts downtown.  Carmax converted a decent size building downtown to an officeCapital One completely renovated an abandoned looking ~6 story building downtown. Owens and Minor took four floors of class A office space off the market downtown. Local insurer Kinsale is building an HQ and apartments just a few blocks out of Scotts Addition proper.

Also Dominion is putting up its two new towers.

I think we have to look at why more of Carmax, Altria, Capital One, Genworth, etc. don't want to be in downtown RVA.  It would be a whole lot easier for them to move than out of region companies. 

I really hope Dominion revises their plans on that second tower and up the square footage northward!

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So I’m worried about the Whole Foods.  It’s feeling like it won’t  actually happen.   Sure they keep working on the parking lot but nothing has happened inside since the building was dried-in.  The floor still hasn’t been poured (still dirt).   The Whole Foods sign came down with the old Pleasants sign (when the parking lot was paved) and hasn’t gone back up. 

Anyone have any idea when it is supposed to be finished?  They keep blowing past money making holidays.  It really feels like Amazon has forgotten about it and the developers are just finishing the shell in hopes of leasing  it to a Halloween or calendar store.

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12 hours ago, Brent114 said:

So I’m worried about the Whole Foods.  It’s feeling like it won’t  actually happen.   Sure they keep working on the parking lot but nothing has happened inside since the building was dried-in.  The floor still hasn’t been poured (still dirt).   The Whole Foods sign came down with the old Pleasants sign (when the parking lot was paved) and hasn’t gone back up. 

Anyone have any idea when it is supposed to be finished?  They keep blowing past money making holidays.  It really feels like Amazon has forgotten about it and the developers are just finishing the shell in hopes of leasing  it to a Halloween or calendar store.

I wouldn't be too concerned.   The comment about the floor not being poured was the exact same comments last year about a new WF store in Charleston SC.  It seemed like that store would never open but it did indeed open about 3 months ago. 

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I certainly hope so.   I look forward to walking there for Saturday lunches.   I thought I’d be doing that around Thanksgiving, then Christmas, now I’m hoping for a July 4th opening. But even that seems like a bit of a time crunch given the rate at which they’ve been working since the shell  was completed months ago. 

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RTD had an article on it.

 

Quote

The chain's response to a recent email inquiring about an opening date was: "Thanks for reaching out. We don't have any additional information to share at this time, but we'll note your contact information and will be sure to send you the opening information as soon as it's available.

 

That doesn't seem like the type of response they would give if they were unsure if it would actually open.

 

 

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Seems pretty noncommittal to me. 

How can they not know when the store will be finished?  If there was the demand to open one here, aren’t they loosing money? They could be vague like “last quarter of 2019” .   It all feels like the “closed for remodeling” sign on the Stake  and Shake at White Oak.   They closed the store,  that sign went up and a month later there was a for lease sign on the building. 

 

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55 minutes ago, RiverYuppy said:

CF Bank is opening downtown branch.

It's good to see more local companies getting interested in downtown.

I am glad to see this downtown, but I was kind of disappointed it would be in this location and they are taking all the commercial space. I was hoping for another retail / restaurant component to give some life to the canal walk. They initially said they were extending that side of the canal and opening the back of the development to it...so I thought another Casa Del Barco type place would be nice. 

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