Martinsville Seeks Development Partner for Henry Hotel
The City of Martinsville and the Phoenix Community Development Corporation (PCDC), a nonprofit developer dedicated to revitalization in Martinsville and surrounding Henry County, are hoping to find a way to secure the financing needed to complete development of the former Henry Hotel. Martinsville purchased the hotel in 2009 for $520,000 and had plans to have the four-story building renovated. (more…)
Concerns Linger for Lingerfelt’s Short Pump Project
We recently highlighted some of the activity around Henrico County’s Short Pump area, including Lingerfelt Development’s plans for a mixed-use project with rental multifamily units, retail space for a hotel or a bank, and a potential medical center. The developer has applied for a rezoning and a public meeting was held on Wednesday night. At that meeting, many local residents expressed opposition stemming from a host of concerns related to quality of life, infrastructure, and property values. They particularly focused on why Lingerfelt wants to construct rental housing rather than homes for sale, worried that if rents decline the community would see undesirable residents move in. Local residents also questioned the feasibility of securing residential and commercial tenants once the project is complete. (more…)
Chesterfield to Get Data Center, Richmond to Get More Apartments
It’s been a good week so far for the Richmond metropolitan region. On Tuesday, we reported on new parcels in Henrico County’s Short Pump being slated for mixed-use development. This move will consolidate the last available tracts of farmland in the area just west of Short Pump Town Center. Earlier this week, we learned about a new 40,000 square-foot, 54-unit apartment building that will go up on an empty lot in Richmond’s Jackson Ward. Studios and one-bedroom apartments will make up the $5.5 million three-story building and will rent for $850-$1,000. The project may include a ground floor commercial space. (more…)
Empty Land Near Short Pump Going Fast
Henrico County’s Short Pump area continues its steady march of development westward as more tracts of land become slated for development. A month ago we reported on Atack Properties’ plans for a mixed-use community on a 70-acre site, and Lingerfelt Development contracted a similar size parcel across the street with plans for another mixed-use project. The county’s Planning Commission are reviewing both proposed developments. (more…)
Developers Believe Roanoke Hospitable to New Hotels
Several new hotels are being planned for the Roanoke area. Developers have become enticed by the region’s rising occupancy rates, downtown renovations, the new medical and research school, and growing demand as Roanoke continues to market itself to tourists and focus on economic development. Two hotels are slated for the Valley View area and one is planned in southwest Roanoke County. Public parking lots along the Williamson Road corridor near downtown are being marketed to hotel developers as well. (more…)
