Months after dropping millions of dollars to buy the property next to its Henrico location, Costco is preparing to put that land to use.
Commercial Real Estate
Developer, nonprofit planning 50 income-based apartments in Bellemeade area
Bristol-based Surber Development and Consulting is planning the project with YWCA Richmond, which would have a dedicated space to provide on-site services to residents.
First-time developers make rehab of Fan-area buildings a family affair
The rehab of 1501 and 1503 W. Cary St. has begun, with plans to renovate the 124-year-old buildings into a modernized mixed-use development with a half-dozen apartments and commercial space.
Shamin to build 12-story hotel on former Hardee’s site on Arthur Ashe Blvd.
The 300-room hotel would carry two Marriott’s brands, the Residence Inn and AC Hotels, and also house a rooftop dining area and a 10,000-square-foot ballroom.
Privately owned slice of Mayo Island hits the market at $1.6M
Louis Heindl’s quarter-acre parcel sits in the heart of Mayo Island and it’s the one piece of the 15-acre expanse that’s not owned by the city.
Old Hotel Jefferson building in Petersburg undergoing $2M mixed-use conversion
Developer Richard Cuthbert is a few months away from completing his conversion of the building at 408 N. Sycamore St. into 24 apartments and three commercial storefronts.
Three downtown office towers facing lender scrutiny
While Richmond’s overall office leasing market is faring better than other regions, the loans on Riverfront Plaza’s twin towers and the Bank of America Center were recently put into special servicing.
Church buys bigger building, wraps up $2.7M renovation
From the Heart Church Ministries of Richmond has put about $5 million total into its purchase and renovation of the 38-acre former Abundant Life Church of Christ building in eastern Henrico.
6-acre Broad St. site back on the market after second contract falls through
The 6-acre plot at 4400 W. Broad St. that’s twice been eyed for large apartment projects by out-of-town developers was once again listed for sale last week.
Reynolds Crossing eyed for major mixed-use reinvention
Reynolds Development is seeking to rezone 31 of Reynolds Crossing’s 58 acres to convert much of its surface parking lots into new buildings of up to 12 stories and add more than 1,000 residential units.