RVA Downtown Development Snapshot

DISCOVER INSIDE:
2,487 LOFTS
47 DEVELOPMENTS
OVER $1.2 BILLION INVESTMENT
RVA DOWNTOWN DEVELOPMENT SNAPSHOT 2012
DOWNTOWN’S TRANSFORMATION
RVA DOWNTOWN DEVELOPMENT SNAPSHOT 2012
GREAT SHIP LOCK PARK TRAILHEAD
SHOCKOE
Shockoe Bottom
2803 Dock Street
Renovation and redesign of Great Ship Lock Park as the trailhead for the Virginia
Capital Trail: electronic information kiosk, historical interpretive signs, benches,
landscaping. Completion: 2013. Approximately $300,000 total investment.
Developed by Virginia Capital Trail Foundation
virginiacapitaltrail.org
MAIN STREET STATION
SHED RENOVATION
TRACKS AT
SHOCKOE CROSSING
Shockoe Bottom
THE LOCKS
(REYNOLDS NORTH)
1500 East Main Street
Riverfront / Canal Walk
1716 East Cary Street
Renovation of the train shed: 65,000 SF of commercial
space including a tourism center and indoor market.
Completion: 2014. $28 million total investment. Main
Street Station is the most recognizable building on I-95
between Miami and New York, 65 million cars pass by
each year.
Six-acre site along Byrd St and the Haxall and Kanawha Canals, between 10th and
14th streets. Adjacent to Riverfront Plaza, Lady Byrd Hat Factory, and Riverside on
the James. Completes final stretch of Richmond’s 1.3 mile Canal Walk corridor.
Phase One converts four historic buildings into 174 apartments, 6,000 SF restaurant, 1,000 SF office, pool and landscaped courtyard, clubroom with fitness center
and movie theater, covered and surface parking. Phased Completion: Fall 2012
through Spring 2013. $34.5 million total investment for phase one. Joint venture
between WVS Companies and Fountainhead Properties.
Historic rehab: 43 apartment units. Completion: 2012.
$4.7 million total investment.
richmondgov.com
SHOCKOE PUBLIC SQUARE
Shockoe Bottom
100 North 17th Street
Redesign the 17th Street Farmers Market and 17th Street
into a public square with open, flexible space to allow the
following: pedestrian connects, weekly pop-up markets,
patio dining, events, etc. Phase one will include 17th
Street from East Main Street to East Franklin Street and
tie into the new Franklin Street connection that will run
under the train shed from 15th to 17th streets. Completion:
2015. $4.6 million investment for phase one.
richmondgov.com
Shockoe Bottom
themonumentcompanies.com
senseidevelopment.com | shockoetracks.com
wvscompaniesllc.com | fountainheadproperties.net
LOFTS AT CANAL WALK
PHASE IV
Shockoe Bottom
1800 block of East Cary Street
New construction: 130 high-end lofts, 250 covered parking
spaces, swimming pool. Completion: 2013. $22 million total
investment.
loftsatcanalwalk.com
2 | RVA Downtown Development Snapshot 2012
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MARRIOT HOTELS
SHOCKOE VALLEY HEIGHTS
Shockoe
Shockoe Bottom
14th and Cary streets
Four buildings on the block bound by Main, Franklin, 20th and 21st
streets. Total project: 209 residential units, 11,500 SF commercial, 126
parking spaces, 24-hour fitness center, swimming pool and sundeck.
$30 million total investment.
New construction of Marriot Hotels: six-story, 210room hotel, 134,000 SF. Two Marriot brands: Residence Inn with 75 extended-stay rooms and Courtyard
by Marriot with 135 rooms. $30 million total investment. Construction begins winter 2013.
themonumentcompanies.com | Senseidevelopment.com
shockoevalleyheights.com
applereitcompanies.com
TROLLEY COMMONS
Part of Shockoe Valley Heights
Shockoe Bottom
20th and East Main streets
New construction: 37 apartments with balconies, 4,500
SF commercial, 79 parking spaces, pool and sundeck.
Completion: 2012. $6 million total investment.
themonumentcompanies.com
senseidevelopment.com
shockoevalleyheights.com
OLD STONE ROW
Part of Shockoe Valley Heights
Shockoe Bottom
ROCKETTS VIEW
Shockoe Bottom
2823 East Main Street
Renovation of 36 existing apartments and
addition of 15 new units, fitness center,
swimming pool with a vanishing edge
overlooking the James River. Completion:
2012. $5 million total investment.
mainstreetrealty.net
21st and East Franklin streets
New construction: 96 apartment units with balconies, 47 parking spaces, one
commercial space. Completion: 2012. $10.2 million total investment.
ATRIUM LOFTS AT
COLD STORAGE
themonumentcompanies.com | Senseidevelopment.com
Shockoe Bottom
shockoevalleyheights.com
2323
Shockoe Bottom
2323 East Main Street
Formerly known as the
Lorillard building, adaptive re-use: 60,000 SF of Class A creative
office space, 2+ acres, 156 off-street parking spaces. $8.5 million
total investment. Projected start date: early 2013. Developed by
Macfarlane Partners and Property Results for Lorillard Building LLC.
4 | RVA Downtown Development Snapshot 2012
THE HARVESTER
BUILDING
Shockoe Bottom
1709 East Clay Street
Historic adaptive re-use: 36 apartments, 44,000
SF with a parking garage in the former basement,
contemporary finishes. Completion: November 2011.
$6.1 million total investment. City and Guilds.
18th and Marshall streets
Historic rehab: final building, 72 residential units. All-inclusive
rents including an iPod and in-wall iPod docking stations.
Completion: 2012. $15 million investment for the last building.
The entire development project includes a total of five buildings and 328 apartments, two swimming pools, two fitness
centers, parking, and first floor restaurant. $60 million total
investment for buildings one to five and the parking garage.
atriumloftsatcoldstorage.com
venturerichmond.com | 5
200 N. 20TH
STREET
ROCKETTS LANDING
Shockoe Bottom
Overview: new and rehab construction, 45 acres, phased
mixed-use development, private marina, riverfront pool, fitness
center, clubhouse. First four buildings: 250 residential units,
12,000 SF first-floor office and retail space, three restaurants.
200 North 20th Street
New construction: 57 apartment
units, 500 SF retail, 40 parking
spaces, a 3,100 SF terrace, 67,500
SF total. Completion: 2013. $6.7
million total investment.
themonumentcompanies.com
senseidevelopment.com
PACE KING
MANSION
Shockoe Bottom
205 North 19th Street
Historic rehabilitation: six offices,
three apartments, over 8,000 SF.
Completion: 2012. $1.2 million
total investment.
robinmillerassocaites.com
monroeproperties.com
MANCHESTER
211 Rocketts Way
Current developments: renovation of 36,000 SF office space
in Cedar Works II, conversion of sales center into 6,000 SF
office, addition of 15 new transient boat slips and a gas
dock. Completion: 2012. $30 million total investment. In the
design phase for three additional buildings: 150 apartments
and 10,000 SF of office space, a 60,000-80,000 SF medical
office building and a 12,000 SF restaurant space on the river.
Estimated Completion: 2013. MILLER BRICK
rockettsvillage.com
Historic rehabilitation of Miller Manufacturing.
Manchester
500 Stockton Street
Phase 1: 110 market-rate apartments, pool, courtyard, clubroom,
fitness center. Completion: 2014. $18 million total investment.
fountainheadproperties.net
MANCHESTER TOWNHOMES
Manchester
1214 and 1216 McDonough Street
New construction: four units, two townhouses. Completion: 2012.
$600,000 total investment. Developed by Macfarlane Properties for
Manchester Partners and Manchester Partners 1.
MANCHESTER MOTOR
WORKS APARTMENTS
Manchester
616 Hull Street
Historic Rehabilitation: 39 apartments, one commercial space.
Completion: 2012. $5.35 million total investment.
genesisproperties.com
PACE KING WAREHOUSE
Shockoe Bottom
201 North 19th Street
Historic rehabilitation: 16
apartments, over 11,500 SF,
five parking spaces. Completion:
2012. $2 million total investment.
robinmillerassociates.com
monroeproperties.com
SOUTH CANAL LOFTS
Manchester
111 Hull Street
Fronting on both the James River and Miller’s Creek. Historic
rehabilitation converting former Caraustar Paper Mill into 93
apartments, pool, greenspace, clubroom, fitness center.
Completion: 2013. $15 million total investment.
fountainheadproperties.net
6 | RVA Downtown Development Snapshot 2012
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LINK APARTMENTS
MANCHESTER
909 PERRY STREET APARTMENTS
Manchester
909 Perry Street
901 McDonough Street
New construction: 44 apartments, clubhouse/gym, 48 parking spaces. Total square
footage: 42,000 SF. Completion: 2012. $5.2 million total investment.
Manchester
New construction: 187 apartments, parking, pool courtyard,
fitness center. Formerly named Manchester Place. Completion:
2012. $21 million total investment. Grubb Properties.
robinmillerassociates.com. | monroeproperties.com
linkmanchester.com
DESIGN. CREATIVITY. TECHNOLOGY. ENTREPRENEURS.
Fueling Manchester’s Economic Transformation from Industrial to a Live, Work, Play Neighborhood.
Here’s a snapshot overview of Manchester’s redevelopment since 2003, when Warehouse 201 was the first building redeveloped into apartments.
CITY VIEW
Manchester
1000 Bainbridge Street
New construction: 32 apartments. Completion: 2013.
wodagroup.com
HATCHER TOBACCO
FLATTS
HOPPER FLATS
✣ Nine years of revitalization
✣ More than 1,571 residences (completed or underway)
✣ 35+ development projects
✣ More than 315,000 SF of new, creative commercial space
✣ More than 120 artists studios
✣ More than $225 million total investment
And more to come with over 1,000 more residences planned and the 18 acre Reynolds South Packaging Plant site.
Manchester
Commerce and Maury streets
Rehabilitation: 38 units in phase 1, 138 units in phase 2. Completion:
2013. $17 million total investment.
franklindevelopmentgroup.net
Manchester
101 West Commerce Road
New construction: 150 apartments. Completion: 2013. $13
million total investment.
genesisproperties.com
REYNOLDS SOUTH
PACKAGING PLANT
Manchester
7th and Bainbridge streets
Proposed mixed-use development of 18 acres. Franklin Development
Group has the property under contract.
franklindevelopmentgroup.net
8 | RVA Downtown Development Snapshot 2012
Aerial view of the residential development projects in the industrial center of Manchester from Commerce Street to the James River. Photograph by Skyshotsonline.com
venturerichmond.com | 9
JERNIGAN HALL
MARSHALL AND ADAMS
STREET APARTMENTS
Monroe Ward
314 W Grace Street
Jackson Ward
Adaptive re-use: 36 apartments, 28,000 SF, 100 new 3’ x 7’ windows, adjacent parking lot. Completion: 2012. $3.6 million total
Investment. City and Guilds joint venture with RRHA.
22-24 West Marshall and 411-413 North Adams Streets
Historic rehabilitation of three houses: 11 apartments, seven
parking spaces. Completion: 2012. $2 million total investment.
CORLEY
LOFTS
propertyresults.net
ARMORY BUILDING
Jackson Ward
Leigh and St. Peter streets
New home for The Black History Museum and Cultural Center
of Virginia. Historic renovation: 22,000 SF, green roof, plaza.
Completion: 2013. $7 million total investment.
MONROE WARD
RICHMOND ARTS & CULTURE DISTRICT
RICHMOND ARTS & CULTURE DISTRICT
JACKSON WARD
ART 180 HEADQUARTERS
Jackson Ward
Monroe Ward
214 East Grace Street
Historic rehab: 2,951 SF, office, program storage, youth workshop space,
youth-run gallery. Completion: 2012. $500,000 total investment.
Historic rehabilitation: 24 apartments, 3 commercial live/work
spaces. Completion: 2012. $3.65
million total investment.
art180.org
genesisproperties.com
112-116 W. Marshall Street
blackhistorymuseum.org
THE
LANDMARK
THEATER
Monroe Ward
6 North Laurel Street
NEW RESTAURANT
Jackson Ward / Broad Street
305 Brook Road
Renovation: Two-story restaurant with patio dining, 3,500 SF. Completion: 2012.
$500,000 total investment by Ted Santarella.
A Richmond CenterStage venue.
Renovation and restoration includes
significant safety and infrastructure
improvements including fire alarm
and suppression system, plumbing
and electrical, also included are updating of acoustic systems and patron
amenities. Project to be completed
in several phases with a $50+ million
total investment. In October 2013, the
theater will be renamed the Altria
Theater, this represents an investment of $10 million on the part of
Altria for naming rights for 20 years.
landmarktheater.net
10 | RVA Downtown Development Snapshot 2012
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RICHMOND ARTS & CULTURE DISTRICT
CITY CENTER &
FINANCIAL DISTRICT
VCU
VCU MASSEY
CANCER
CENTER LAB
IMPROVEMENTS
VCU Medical Center
APPLE REIT HEADQUARTERS
EXPANSION
401 College Street
Renovation of the third floor into research
support labs. Completion: 2012. $12 million
total investment.
Financial District
814 East Main Street
Executive office expansion. New construction: 5,796 SF office with a
rooftop patio. Completion: 2012. $1.75 million total investment.
VCU HEALTH SYSTEMS
CHILDREN’S HOSPITAL OF
RICHMOND PAVILION
applereitcompanies.com
FIRST NATIONAL
BANK BUILDING
Financial District
RESIDENCES AT
THE JOHN
MARSHALL
823-825 East Main Street
City Center
Historic rehabilitation: 154 apartments.
Completion: 2012. $30 million total investment.
Rushmark Properties.
5th and East Franklin streets
firstnationalapartments.com
700 CENTRE
City Center
700 East Franklin Street
Adaptive re-use. Convert old Virginia
Power Building Tower from offices to
apartments with ground-level retail:
142 luxury apartments, 30,000 SF retail
space. Renovate Annex: 45,000 SF office,
15,000 SF ground level retail, apartments
on top two floors. Estimated Completion:
2014. $31 million total investment. Genesis Properties, Inc. and Armada Hoffler.
genesisproperties.com
12 | RVA Downtown Development Snapshot 2012
Historic renovation and conversion of the Hotel
John Marshall: 238 apartments, state-ofthe-art fitness center, clubroom with kitchen,
16,975 SF meeting and banquet facility leased
by Colony Catering, 26,783 SF street level
retail/restaurant space, John Marshall Barber
reopened. Completion: 2012. $70 million total
investment. Dominion Realty Partners.
johnmarshallresidences.com
VCU Health Systems
East Broad Street between City Hall and Sanger Hall
VCU MCGLOTHLIN
MEDICAL EDUCATION
CENTER
New construction: consolidates all of the Health System's outpatient pediatric
clinics, includes parking for approximately 650 vehicles. Completion: 2015. $160
million total investment.
VCU Medical Center
1201 East Marshall Street
New construction: 200,000 SF educational facility. “Starchitect” I. M. Pei-designed building. The new building will
allow the School of Medicine to increase its total medical
class of 750 students to 1,000, placing the school in the top
10 based on number of students. Completion: 2013. $158.6
million total investment.
VCU SANGER LAB
IMPROVEMENTS
VCU Medical Center
1101 East Marshall Street
Renovation of the seventh floor for Pauley
Heart Center research component. Completion: 2012. $7 million total investment.
venturerichmond.com | 13
VCU GRACE STREET
HOUSING NORTH
VCU UNIVERSITY LEARNING
CENTER
Monroe Park Campus
Monroe Park Campus
West Grace and Shafer streets
Adjacent to the Cabell Library, on the corner of Linden and
Floyd streets
New construction: student housing in a living learning
village environment with a focus on global education, 388
beds. Completion: 2013. $32 million total investment.
New construction: 104,000 SF housing two floors of large classrooms,
one floor School of Social Work, one floor Center for Teaching Excellence. Completion: 2013. $44 million total investment.
VCU GRACE STREET
HOUSING SOUTH
FACTOID: The VCU School of the Arts is the top-ranked public graduate
arts program in the United States, according to U.S. News & World Report.
Monroe Park Campus
VCU GILMER STREET HOUSING
West Grace and Shafer streets
Monroe Park Campus
New construction: student housing in a living learning village environment
with a focus on community engagement, 479 beds. Completion: 2012. $32
million total investment.
Gilmer and West Broad streets
New construction: expansion of VCU Real
Estate Foundation's Broad and Belvidere Student Apartments, 70 beds. Completion: 2012.
$6 million total investment.
VCU CABELL LIBRARY
INFORMATION
COMMONS
Monroe Park Campus
VCU INSTITUTE OF
CONTEMPORARY ART
Monroe Park Campus
West Broad and Belvidere streets
In design phase: 32,000 SF with 8,000 SF gallery
space; an outdoor installation space; a 210-seat
auditorium; gift shop; café; an entry hall suitable for
exhibitions, installations and social events. Designed
by internationally renowned architect Steven Holl. $32
million total investment.
Addition to and renovation of the Cabell Library, in
the design phase. Completion: subject to state funding. $47 million total investment.
VIRGINIA
BIOTECHNOLOGY
BIOTECH EIGHT EXPANSION
PARK
Virginia BioTechnology Research Park
737 North 5th Street
New construction for Health Diagnostic Laboratory, Inc. expansion. Phase 1: 112,000 SF, being
constructed on the former Biotech Three site and will connect to Biotech Eight, HDL, Inc.'s
current space, two-level addition to the parking deck on Navy Hill Drive, 185 parking spaces.
Completion: 2013. Phase 2: 100,000 SF, six stories on the existing Biotech Five Building site,
Completion: 2014. $50 million total investment.
vabiotech.com
14 | RVA Downtown Development Snapshot 2012
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Published by Greater Richmond Grid magazine
September/October 2012
Photo by Jay Paul