| Nearly $1 billion in development happening in Richmond Developers are working on or completing nearly $1 billion in projects throughout downtown Richmond. "What we're seeing in Richmond now is years and years of work," said Lee Downey, the city's director of economic and community development. " . "It might take twenty years or it might take two years. In all, more than a dozen developers presented plans that ranged from a renovation of Virginia Commonwealth University's library to a 12,000-square-foot restaurant under construction in Rocketts Landing. Venture Richmond put a total price tag on the projects of about $900 million. Wilkinson tiptoed around the subject of contracts, telling the audience that if one existed, he would be bound by a confidentiality agreement. "I don't have a name to tell you, but it will be an upscale grocer. Wilkinson said he has spoken to several office developers and others about what to do with that portion of the property. Thomas A. The $52 million development could include apartments, office buildings and an upscale grocery store. The rest of the land includes 7 acres near the James River with what he called commanding views of downtown Richmond. He said a grocery chain would be attracted to the development because of the increasing population of the area. The annual gathering is fashioned to update business leaders, developers, architects, real estate officials and others from around the area on current developments in downtown Richmond and what could be in the pipeline. "We had one fellow that talked to us about putting a million square feet of office towers there - two 18-story towers," Wilkinson said. He told the audience that he plans to build three buildings in the center of the property, bringing 317 apartment units to Manchester. A 13-story hotel. "So I'm not saying I have a contract," he said to a smattering of knowing laughs from the audience, "but I am saying that I am planning on developing that project. On another portion of the property, Franklin Development has spoken to developers about bringing in a grocery store, Wilkinson said. "We're a long way towards closing," Wilkinson said Thursday morning at the annual Downtown Development Forum presented by Venture Richmond, which promotes economic development and events mostly in the downtown area. |
Friday, 1 June 2012
Nearly $1 billion in development happening in Richmond
