Deal of the Month: Major Apartment Complex Announced for Chesterfield County
Another new monthly feature that we are adding to the Virginia Real Estate Blog is a Deal of the Month. This recap of projects that stand out as major economic development drivers for the Commonwealth of Virginia will highlight how the deal was made and what it will mean for the locality. This month’s deal is the Stonebridge announcement in Chesterfield County. (more…)
New Office Tower Could Greet Downtown Richmond
Transformation of the Richmond skyline is expected to begin spring of this year when construction begins on a new 15-story office tower on a key space in the center of Richmond’s financial district considered a downtown gateway. The proposed project, known as Gateway Plaza, is led by Chicago-based developer Clayco Inc. and would be the new home for the McGuireWoods law firm. McGuireWoods recently signed a lease that would make them the building’s chief tenant, occupying the building’s penthouse conference center and 217,000 square feet of office space on eight floors. The firm currently leases 244,000 square feet on nine floors in the nearby James Center but the lease expires in August 2015. (more…)
Wheels Begin Turning for Virginia Beach Dome Site
After nearly five years of being stalled, the wheels have been set in motion for an entertainment complex on Virginia Beach’s Oceanfront. The potentially transformative project is located on the former site of the Dome, the city’s bygone concert hall and convention venue. The 8.5-acre property is currently owned by the city and functions as a parking lot, but ambitious plans call to replace the site with a 440,000 square-foot facility that would hold 42 entertainment venues including an ice rink, amusement rides for children, a towering 185-foot-tall Ferris wheel featuring dining gondolas, a 2,500-seat theater reminiscent of Broadway, a bowling alley, and other exciting attractions. (more…)
Virginia Reaches Green Peak
Last year we reported that Virginia ranked fourth in the nation for LEED-certified commercial and institutional green buildings per capita. The ranking signified the growing demand for and commitment to sustainable office space in the state. Now the U.S. Green Building Council announced this past Wednesday that Virginia ranked as the top state for LEED certifications in 2012, during which 170 green projects created a combined 29.7 million square feet of certified space, translating to 3.71 square feet of green space per resident. From the mountains of Shenandoah County to the city streets of Arlington to the shores of Virginia Beach, the number of proposed green projects continues to surge as companies seek out the benefits of LEED certification. Despite the initial high investment, green buildings reduce operating costs by 14% annually which generate substantial savings over an extended period of time. A certification also allows companies to demonstrate their commitment to corporate responsibility and sustainability. (more…)
Plenty of Room for Hotels in Charlottesville
Nearly 300 hotel rooms or more will come online in Charlottesville as a number of projects move through planning and development. They will add to the over 3,000 hotel rooms already in the area. The projects include a planned Homewood Suites with 149 rooms and a Hyatt Place with 137 rooms that will open in the summer. Last year, a new Mariott Residence Inn was approved and the never-finished downtown Landmark Hotel was purchased by a company based in Atlanta. (more…)
