Richmond: Economy/Business/Real Estate

[ric75]

This Style Weekly story says VCU might purchase the Theatre Row building at the corner of 8th and Broad next door to the National. The site was formerly The Colonial Theatre and when it was demolished the facade was retained and is a gem on Broad Street.

http://styleweekly.com/article.asp?idarticle=17746

The only way I could support the purchase is if it were to become a student theater and even then I'm leary. That area will soon be an entertainment destination and there's simply no place for yet another VCU office/academic building. They've played a large enough role in the transformation of Broad St. west of Belvidere. We don't need their hands in yet another stretch of Broad St.

[burt]

The only way I could support the purchase is if it were to become a student theater and even then I'm leary. That area will soon be an entertainment destination and there's simply no place for yet another VCU office/academic building. They've played a large enough role in the transformation of Broad St. west of Belvidere. We don't need their hands in yet another stretch of Broad St.

There's no way it would (or could) become a theatre again. All that was saved when the 10-story tower went up was the original facade of the Colonial. The auditorium is a memory. VCU plans to use the new-ish building for the purpose it was intended -- offices, in this case, related to the School of Nursing.

This story follows another recent one about VCU possibly leasing a big chunk of the Capital Square building at the n/w corner of 9th and Main.

And remember, they will also have a presence, albeit a small one, with the U of R in the former Franklin Federal building at the n/w corner of 7th and Broad across from the National.

[D_C]

The Style article mentions the current tennants but does not mention the Virginia Credit Union. Isn't VACU located in the ground floor of that building?

[burt]

I wish we had a thread titled Greater Richmond Convention Center. But since we do not, I'm placing the story here about the major (and I stress MAJOR) meeting taking place today and tomorrow at the Convention Center. It has a very strong impact on the local economy and brings International attention to the region.

From today's inRich:

http://www.inrich.com/cva/ric/news.apx.-co...09-23-0070.html

[burt]

Perhaps as many as 490 employees may lose their jobs with the closure of two Reynolds Plants in Richmond.

From this afternoon's in/Rich Breaking News:

http://www.inrich.com/cva/ric/news.apx.-co...09-24-0227.html

Could one of the results be the freeing up of the Alcoa property along the Canal Walk? As much as that may be desired, how much better it would be to move its operations to the Bells Road site and keep all those jobs in Richmond.

Edited September 24, 2008 by burt

[jbjust]

That is awful about folks losing their jobs, but this could be the last piece of the puzzle for Canal Walk!!!

[Cadeho]

That would mean my father would be out of his primary job...

[Downtowner]

Wow this really stinks but at the same time if it opens up new opportunities for the canal then full steam ahead. But Cam im really sorry to hear that about your father. I hate foreign companies buying our companies out.

[burt]

Here is a more detailed story from this morning's inRich:

http://www.inrich.com/cva/ric/news.apx.-co...09-25-0179.html

The loss of 500 jobs is a terrible blow to the area, but it is particularly heartbreaking on an individual basis in these difficult times.

Edited September 25, 2008 by burt

[jbjust]

Was the plant beside Legends also affected?

[Cadeho]

You know, if the plant near Legends is closed, imagine the possibilities to redevelop that land! Manchester could get towers at their riverfront! I'm still hoping for a stadium or amphitheater facing the city on the NS wasteland.

[burt]

Reynolds Metals was a formidable operation in my Richmond youth. Its headquarters was in the high-rise on the southeast corner of 3rd and Grace Streets which was imploded to make way for Media General expansion. Earlier, Reynolds Metals had commissioned a famous architect to construct a Henrico County building that acheived World-wide notoriety for its design. The latter structure is now headquarters for Philip Morris USA and is adjacent to land still in the Reynolds family near West Broad and Glenside Drive.

Here's a story about the move to Louisville from today's inRich:

http://www.inrich.com/content/cva/ric/news...09-27-0057.html

Perhaps when the canal-side plot between 10th and Virginia Street is developed as a mixed-use entertainment/retail/residential complex, the Reynolds name will be prominent.

[Cadeho]

And physically connect the canals! We can finally build that village or there's room for a few more towers...

[TBurban]

And physically connect the canals! We can finally build that village or there's room for a few more towers...

I loved that tower in the rendering gallery at RCW of the Canal Walk. I know it's probably out dated, but something like that would be perfect!

[burt]

I loved that tower in the rendering gallery at RCW of the Canal Walk. I know it's probably out dated, but something like that would be perfect!

Are you referring to the glass see-thru tower Bam Architects proposed for Vistas on the James? I liked that one, too.

[Downtowner]

I dont know if thats the one tommy ment or not burt. But I liked that one they had on the very early rendering that had Richmond Region 2007 and it had that glass tower next to riverfront plaza.

[wrldcoupe4]

Well, it sounds like Wachovia is being acquired by Citi... I wonder what this will mean for their local operations?

[jbjust]

Probably doesn't mean much for us since there aren't many CitiBanks to speak of Richmond. I understand that the retail banking business will be headquartered in Charlotte and the I-banking in NY.

The million-dollar question is what will happen to the yet-unfinished 46-story Wachovia tower that is being built in Charlotte. Maybe they can ship it up here?

[burt]

Well, it sounds like Wachovia is being acquired by Citi... I wonder what this will mean for their local operations?

Here's today's inRich story about Citigroup acquiring Wachovia. Since I bank at Citi, maybe I wouldn't have to switch to a local bank if I were to relocate.

Wonder how it will affect Charlotte? Wachovia's new 40+ story tower is rising in their "uptown."

Deposits are safe, but does it mean that Wachovia stock is worthless?

http://www.inrich.com/cva/ric/news.apx.-co...09-29-0211.html

Edited September 29, 2008 by burt

[burt]

Probably doesn't mean much for us since there aren't many CitiBanks to speak of Richmond. I understand that the retail banking business will be headquartered in Charlotte and the I-banking in NY.

The million-dollar question is what will happen to the yet-unfinished 46-story Wachovia tower that is being built in Charlotte. Maybe they can ship it up here?

Wachovia's brand new 20+ story tower is well underway in downtown Norfolk. That city has had enough bad news with the failure of Granby Tower; they don't need more disappointment.

[burt]

Wachovia Securities will remain headquartered in St. Louis.

[jbjust]

Wachovia Securities is NOT being sold.

[TBurban]

Wachovia's signage at the James Center, will it be changed to CitiBank?

[blake_p]

Here's today's inRich story about Citigroup acquiring Wachovia. Since I bank at Citi, maybe I wouldn't have to switch to a local bank if I were to relocate.

Wonder how it will affect Charlotte? Wachovia's new 40+ story tower is rising in their "uptown."

Deposits are safe, but does it mean that Wachovia stock is worthless?

http://www.inrich.com/cva/ric/news.apx.-co...09-29-0211.html

From Wachovia's Press Release:

"Citigroup will headquarter the retail bank in Charlotte and the investment bank in New York."

[burt]

How will this possible acquisition of Hilb, Rogal & Hobbs affect Richmond?

From this evening's inRich:

http://www.inrich.com/cva/ric/news.apx.-co...09-29-0237.html

Edited September 30, 2008 by burt