Richmond: Economy/Business/Real Estate

[wrldcoupe4]

Have we, at least, gone up in ranking since the last time?

Yes... last year Richmond was ranked 41st. 14th is damn good IMO.

[Cadeho]

Congrats to the Virginians on the high rankings for business and careers... guess I should be hoping to head that direction soon...

I'm somewhat surprised to hear Wells Fargo is moving into the Richmond market. Isn't there already good representation of most of the nation's larger banks in the Richmond market? I guess its a good forcast of the future of Richmond if Wells Fargo thinks there is enough business to go around...

They'd better build a tower downtown... a la Salt Lake City's.

[wrldcoupe4]

hahaha their office will have less than 20 employees initially, but they will be located at Riverside on the James, which is a plus. Their Richmond location will be primarily geared towards business banking... also Richmond has historically been a financial/banking center, so their entry into our market isn't so surprising.

Edited April 11, 2007 by wrldcoupe4

[burt]

This is an interesting and enlightening story from today's Times Dispatch Business page. The "mystery" high rise south of Mayo Bridge is described as well as other projects;

http://www.timesdispatch.com/servlet/Satel...sPN=%21business

[Downtowner]

IMO They have ruined the Manchester Tower take a look for yourself. the one below is the Westin

Edited April 15, 2007 by Downtowner

[burt]

Did those renderings accompany the hard copy story, Joey? They were not in the on-line piece.

I kinda like 'it. It's unlike anything else around and sort of fits the industrial tone of Manchester, IMO.

The Westin looks pretty ordinary.

Edited April 15, 2007 by burt

[Downtowner]

yeah they were with the story and had alot more Renderings but most of them were out of state in orther cities.

I think the Manchester Tower looks like that Ugly Tower in Louisville KY Museum Plaza if we ever get something I like that I will be ashamed of my City.

[burt]

yeah they were with the story and had alot more Renderings but most of them were out of state in orther cities.

I think the Manchester Tower looks like that Ugly Tower in Louisville KY Museum Plaza if we ever get something I like that I will be ashamed of my City.

Well, when you consider that we have been seeing the odd Southern States silos at the end of Mayo Bridge for decades, the new building sort of compliments it. Everything in Richmond doesn't have to be traditional.

PS> It DOES, in a way, bring the proposed Louisville tower to mind.

[wrldcoupe4]

I think that building shown in the paper is part of a larger master plan for the area of Manchester near Plant Zero. Here is a tower from their website that they have envisioned:

I think the part that Joey dislikes... also shown here, is attached to the taller structure

Edited April 15, 2007 by wrldcoupe4

[cityhopper]

When I was in the City I noticed a good portion of construction had some relation to Thalmier (I think thats how it's spelled). Who is this person/company?

[wrldcoupe4]

The Thalhimer you are probably referring to is this one: http://thalhimer.com/

They mostly do brokerage and property management, but they also have a construction company called MGT that does a lot of business.

[burt]

The Thalhimer you are probably referring to is this one: http://thalhimer.com/

They mostly do brokerage and property management, but they also have a construction company called MGT that does a lot of business.

Another branch of the Thalhimer family ran a department store empire. Its downtown location and Miller & Rhoads across 6th Street were of very high calibre...similar to Rich's in Atlanta. Most of Thalhimers has been demolished, but there is still a section at the n/w corner 7th and Grace that is being converted to performing arts spaces. Miller & Rhoads is being gutted and converted to a Hilton brand hotel.

[eandslee]

That bridge-like structure in the rendering looks rather...interesting. It almost looks odd, as in out of place. It's definitely different!

[Cadeho]

Actually I like the building better with the bridge. I'd been tampering with something like that and it'd be nice to actually see. I also like the foreground structures. And drats Joey I thought I could scan it!

[mrd3b]

I'm not a huge fan of the bridge-like structure, but I think these buildings have the potential to be some of the very few architecturally interesting structures in Richmond's recent history/near future. It seems like so many new buildings in this city are either Disneyland caricatures of structures from an idealized past or the urbanizations of the suburban monstrosities one is apt to find in office parks.

[Cadeho]

I have asked before, what is "urban" and "suburban" architecture? I don't find office park architecture too bad, working in Innsbrook. Some of the buildings would have made great towers downtown. But what would be suitable for downtown? Big boxes, tan in color, little windows... hmm that's the Madison! Others don't like the classical influences or the brick. I'd rather see the bridge building be less boxy, maybe tapered, more reflective, maybe random juts. But it would be interesting. Hey maybe they could do a series of them snaking through Manchester?

[wrldcoupe4]

Fortune 500 List, 2007

Richmond Area has 7 Fortune 500 Companies, 13 Fortune 1000 Companies in all

The List

(Richmond Rank, Company Name, Fortune Rank)

1. Dominion Resources, 140

2. Circuit City, 215

3. Genworth Financial, 227

4. MeadWestvaco, 350

5. CarMax, 365

6. Performance Food Group, 393

7. Owens and Minor, 418

----------------------------------

8. LandAmerica Financial, 522

9. Universal Corporation, 573

10. Brinks, 641

11. Markel Corp, 739

12. Albemarle Corp, 774

13. Massey Energy, 804

Brinks and LandAmerica slipped off the Fortune 500 list and into the Fortune 1000.

Breakdown by Region in Virginia (No. of Fortune 1000 Company HQ's)

Hampton Roads - 4

Northern Virginia - 10

Richmond - 13

Southwest Va - 2

-----------------------

Total - 29

Good news! Hopefully we can add 1 or more this year!

Edited April 16, 2007 by wrldcoupe4

[eandslee]

Good news! Hopefully we can add 1 or more this year!

Sounds like you know something that we don't. Might this have something to do with the new building going up next to Reynolds or the triangle block downtown? You sly guy, you!

[wrldcoupe4]

Haha I wish I knew something like that... Just being optimistic. Too many crabby attitudes in this town.

[eandslee]

Too many crabby attitudes in this town.

I know what you mean friend. I know what you mean....

[wrldcoupe4]

Other Business News:

Richmond is one of the 50 Hottest Cities for Relocations and Expansions

"The Richmond metro area is one of Expansion Management magazine

[burt]

Humpf! It is not pleasing that two Richmond companies fell off the Fortune 500 list. Maybe with an improving financial market, they'll recover their position at the top. At least, they're still in the Fortune 1000 grouping. And with Richmond claiming 13 huge corporations, the highest number in the State, more companies will be attracted to the area.

In the long Adobe story, Richmond gets excellent coverage. I thought it was interesting that Greg Wingfield pointed out the vast improvements at RIC and that Dulles, 90 miles to the north, offers the Iinternational service that is so important to Fortune companies. When one considers that it takes an hour and a half to get from Manhattan to JFK, the hour and a half drive from Richmond to Dulles is comparable. Also, there are eight daily flights to the International terminal at Dulles from RIC.

Thanks for posting these hopeful stories, Coupe.

[wrldcoupe4]

Burt, with regards to two companies (LandAmerica and Brink's) slipping out of the top 500, LandAmerica had increased revenue but still slipped to 522, while Brink's sold a major unit, dropping it from 395 to 641.

[Downtowner]

Coupe these are very inspirational stories and I am glad to finally hear some good news about something.

[cityhopper]

These are great stats to read for the area. I hope that with Richmond coveting 13 of Fortune 1000 companies that Richmonders will benefit just as much as those who will relocate. I think developing and increasing the skillset of the natives are most important in regards to city development and expansion.

Also

Best Places For Business and Careers

#14 Richmond VA

04.05.07, 6:00 PM ET

Population: 1,193,000

RANK

Colleges 65

Cost of Doing Business 26

Cost Of Living 120

Crime Rate4 82

Culture & Leisure 88

Educational Attainment 64

Income Growth 169

Job Growth 72

Net Migration 48

Overall 14

Edited April 19, 2007 by cityhopper