That is right in line with what Style Weekly wrote:
http://www.styleweekly.com/richmond/the-ruins-of-richmond/Content?oid=2348952
Manchester Canal and Richmond Paper Board Co. Building
Where: Hull Street near the Flood Wall
Built: Circa 1800
The Manchester Canal, now an abbreviated and swamplike waterway that was built by black and Irish laborers, was envisioned as a navigation connection to the west. While the James River and Kanawha Canal took on that task on the north side of the river, this canal served paper mills in the vicinity of the Mayo Bridge.
Today, the skeletal Richmond Paper Board factory, built in 1929, offers a picturesque silhouette for joggers and hikers moving atop the flood wall. But enjoy the view soon. This ruin awaits demolition for a high-rise apartment complex scheduled on the 2-acre site. Some 200 units comprise the first phase.