Richmond Developments

[burt]

according to RCW, the CNB tower now has a construction fence up surrounding the building. Not long before one of Richmond's historic skyscrapers returns as mixed-use (office, residential, retail)!!!!!

<{POST_SNAPBACK}>

Has the Washington developer announced any definite plans for CNB tower? Wonder if he has any (preferrably out-of-town) tenants lined up?

And let's hope he'll rejuvenate the wonderful old buildings next to the tower on Broad!

[burt]

I drove by today and yes it does! Also, it seemed like some work was being done at the Miller & Rhoads building. Not quite sure what though. The Park Place Apartments overlooking Monroe Park are coming along and they look pretty awesome with all the bay windows. I didn't see a lot of activity at the edgeworth building, perhaps most of the work right now is being done on the Main St. side. There is also a big warehouse renovation in the bottom going on at about grace and 20th/21st st. Carytown looked beautiful today. I'm so glad that it wasn't that affected by the new upscale malls.

Grace St looks awesome where they have redone the streetscapes. Only problem is that there are so many empty storefronts there at the moment. There are a few blocks that are just begging for 1st floor retail with residential on the top floors.

okay, that's my spiel for today

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Those abandoned shops on Grace between 6th and 2nd are, almost without exception, extraordinary. It's painful to see them in their present condition.

[burt]

Has anyone noticed and remarked on the residential conversion of two, three, or maybe even four, old furniture stores on southside of Broad between 1st and Adams streets? I haven't read much about them, but am pretty sure that extensive work is underway. One of them, the old Popkins (spelling?) at s/e corner of Adams & Broad, will have a street-level restaurant.

[wrldcoupe4]

This is a MUST read about the Richmond office market:

article

It said some interesting things such as:

"the new project Riverside on the James in Richmond

[burt]

Well, well, well! That is certainly an upbeat assessment of Richmond business prospects.

On the downside, the RTD reports that employment levels are predicted to be very low for the Richmond area in the third quarter. Only a very small percentage of major employers plan to increase hirings.

[burt]

Further, IMO, the huge PM investment will spur action on the Miller & Rhoads hotel and perhaps encourage retailers to take a look at thoses excellent buildings on Grace street.

[wrldcoupe4]

however, keep in mind that of the top 100 largest metros, Richmond ranks at the top for lowest jobless rate. I agree about grace st. It's beautiful, the tree canopy offers a lot of shade and the streetscape is fantastic. I wonder if above the first floor, there are plans for apartments on upper floors....btw is something being done to the berry-burke building that is near the carpenter center? It looks great for an apartment/condo conversion.

I'd just like to know what we should be loooking for in the Downtown sector of the market that the above commentary speaks about.

[burt]

however, keep in mind that of the top 100 largest metros, Richmond ranks at the top for lowest jobless rate. I agree about grace st. It's beautiful, the tree canopy offers a lot of shade and the streetscape is fantastic. I wonder if above the first floor, there are plans for apartments on upper floors....btw is something being done to the berry-burke building that is near the carpenter center? It looks great for an apartment/condo conversion.

I'd just like to know what we should be loooking for in the Downtown sector of the market that the above commentary speaks about.

<{POST_SNAPBACK}>

Maybe the PM project will entice some companies which fled downtown to return. And not underestimating Mr. Wilder, his name and reputation is very likely to lure out-of-state business to the city core.

By the way, I'm glad he and the city council kissed and made up.

Berry Burk was bought by one of the new big residential builders in town a couple of years ago who planned a boutique hotel in the building. Haven't heard anymore lately.

[Downtowner]

wrldcoupe that was a great article about the downtown Business. I hope we really start to see a maxed out Skyline with towers up to 60 and 70 floors.Also they better make them attractive and not mess it up like riverside. Like I said before on RCW I compare the Residential tower of Riverside to a bald headed man.

[burt]

wrldcoupe that was a great article about the downtown Business. I hope we really start to see a maxed out Skyline with towers up to 60 and 70 floors.Also they better make them attractive and not mess it up like riverside. Like I said before on RCW I compare the Residential tower of Riverside to a bald headed man.

<{POST_SNAPBACK}>

That's a very funny analogy, Joey_P - LMAO!!!! But you DO know that some people think BALD IS BEAUTIFUL! LOL

[wrldcoupe4]

hahaha joey, it doesnt look as bad as the photoshop rendering someone did on RCW. In person, its pretty awesome. The only thing I really dislike is the elevator thing on top sticking out. A rooftop garden would have done well on this tower.

[wrldcoupe4]

Arts Foundation Boasts Donations

Burt youll be happy to hear about this....The VAPAF will announce to Major ($250,000+) gifts next week. One is from the Bank of America Charitable Foundation. The other one has not been released. Apparently at least 50 people, including board members and city officials, are expected to attend a ceremony honoring BofA's donation on Thursday. The other ceremony will be held on another day that week. With major donations to VCU, VMFA, and others, there really is no excuse for VaPAF not to raise the required funds now.

[burt]

Arts Foundation Boasts Donations

Burt youll be happy to hear about this....The VAPAF will announce to Major ($250,000+) gifts next week. One is from the Bank of America Charitable Foundation. The other one has not been released. Apparently at least 50 people, including board members and city officials, are expected to attend a ceremony honoring BofA's donation on Thursday. The other ceremony will be held on another day that week. With major donations to VCU, VMFA, and others, there really is no excuse for VaPAF not to raise the required funds now.

<{POST_SNAPBACK}>

Yes. Very good news indeed. I hope these donors' gifts are much more than $250,000 each.

From what I've heard, Phillip Morris, while it generously supports the arts Nationwide, is reluctant to localize its gifts.

I think Wachovia has already given $250,000 and Ukrops Market Bank has pledged half a million, but that may be only hearsay.

Edited June 16, 2005 by burt

[burt]

I want to hear more news about CNB tower. Where is the fence and does it extend in front of those beautiful but derelict buildings westward from CNB to 2nd street?

And is it not true that the old Swartzchild building at s/w corner of 2nd and Broad is undergoing conversion to apartments or condos?

[wrldcoupe4]

When I was there last, The Schwartzchild building was undergoing renovation. There was a lot of work going on in that building. As the the CNB, I believe that at the moment only the actual CNB is surrounded by the fence.

[wrldcoupe4]

Burt this may have been what you were talking about earlier?? A new redevelopment project at 2101 East Main Street is underway further developing Tobacco Row called Haxall View:

The three buildings that comprise Haxall View were originally a cafeteria and part of the cigar manufacturing department of the Edgeworth Tobacco warehouse complex. In 1973 it became the home of the Advance Electric Company. In 2005, Fulton Hill Properties will transform these buildings into a 40,000 square foot mixed-use project with loft apartments above offices, retail shops and a restaurant. The restaurant space will include outdoor seating in a private courtyard, with parking on the lower level.

It's adjacent to the Edgeworth Tobacco Building project which is currently being renovated into office space with some retail.

Here's a link to the site for Haxall View

Edited June 17, 2005 by wrldcoupe4

[Downtowner]

Have any of you all heard anything about this?

LeClair Ryan Leases 68,550 S.F. in Richmond

[Downtowner]

Just wanted to throw this at you all as well. I know its a little old though.

2003 RICHMOND, VA MARKET AT A GLANCE

Top 5 new retailers that have entered Richmond in 2003:

Nordstrom

[wrldcoupe4]

Some awesome Richmond development news!

Serious work has begun on transforming the 23-story, 75 year old, art deco, CNB tower. It will be upgraded to Class A office space with retail on the ground level. Renovation will be complete in 2006. Vaulted ceilings are 3 stories tall on the first floor where an arcade of shops and restaurants is planned.

The same D.C. developer is planning a conversion of the Interbake Foods factory into apartments/condos, office, and retail uses. The largest building in the 3-building property is the 7 story, 250,000+ sf cookie factory when the factory relocates.

Douglas Development is also looking for other buildings in downtown Richmond to rehabilitate.

here is an article that discusses these developments:

D.C. Developer is moving in: Big plans for local landmarks

[burt]

Some awesome Richmond development news!

Serious work has begun on transforming the 23-story, 75 year old, art deco, CNB tower. It will be upgraded to Class A office space with retail on the ground level.  Renovation will be complete in 2006. Vaulted ceilings are 3 stories tall on the first floor where an arcade of shops and restaurants is planned.

The same D.C. developer is planning a conversion of the Interbake Foods factory into apartments/condos, office, and retail uses. The largest building in the 3-building property is the 7 story, 250,000+ sf cookie factory when the factory relocates.

Douglas Development is also looking for other buildings in downtown Richmond to rehabilitate.

here is an article that discusses these developments:

D.C. Developer is moving in: Big plans for local landmarks

<{POST_SNAPBACK}>

I note with interest that no residential is planned for this fine building. Douglas Development must have some prospective clients on the string; can't believe this is strictly speculative development.

There is an arcade adjacent to and west of the tower that runs between Broad and Grace with a large circular atrium-type room midway between the two streets. Its entire length used to be lined with shops and businesses. Let's hope it sees a revival.

The whole area of Broad between 1st and 4th streets is in sore need of TLC.

[burt]

Burt this may have been what you were talking about earlier?? A new redevelopment project at 2101 East Main Street is underway further developing Tobacco Row called Haxall View:

The three buildings that comprise Haxall View were originally a cafeteria and part of the cigar manufacturing department of the Edgeworth Tobacco warehouse complex. In 1973 it became the home of the Advance Electric Company. In 2005, Fulton Hill Properties will transform these buildings into a 40,000 square foot mixed-use project with loft apartments above offices, retail shops and a restaurant. The restaurant space will include outdoor seating in a private courtyard, with parking on the lower level.

It's adjacent to the Edgeworth Tobacco Building project which is currently being renovated into office space with some retail.

Here's a link to the site for Haxall View

<{POST_SNAPBACK}>

This is good news, but it's not the project to which I was referring. Forest City announced several months ago, after it completed work on the Carolina Building between 23rd and 24th on Cary, that work would soon begin on the Lucky Strike building. And also, a line of townhouses would be constructed on Main at about 26th street.

Back to Haxall View: it's wonderful to see those old buildings on 21st street being developed. However, as I pointed out on RCW, they've got their nomenclature confused. The body of water that flows to the Great Ship Lock thence in to the James is the James River & Kanawa Canal, NOT the Haxall, which is exclusively in the Browns Island ROTJ area. Thus the Haxall will not be within view of this development, though it will be within a couple of blocks of the JR/Kanawa Canal.

Edited June 18, 2005 by burt

[burt]

Have any of you all heard anything about this?

LeClair Ryan Leases 68,550 S.F. in Richmond

[burt]

Just wanted to throw this at you all as well. I know its a little old though.

2003 RICHMOND, VA MARKET AT A GLANCE

Edited June 18, 2005 by burt

[burt]

Coupe, have you noticed that since you started the new ballpark thread 24 readers have visited the site? And I see that 17 visitors have read my restaurant "column" since earlier today.

I wish these readers would add their comments.

[wrldcoupe4]

I agree, and may I say that I enjoy the restaurant thread. It's very informative and when I'm hungry it makes my mouth water .