RVABizSenseMike

April 5

17 hours ago, I miss RVA said:

@RVABizSenseMike - has your office heard anything or gotten a feel for specifics regarding this grant?

I suspect we'll be covering it in some regard soon, not sure when though.

March 15

43 minutes ago, Child2021 said:

I thought at one time a Sheetz was planned to go here, but it has since been removed from the county's website...but construction has started here in the boxed area with the road largely done. @RVABizSenseMike any idea what's coming here?

As far as I can tell the spot on Midlothian Turnpike is still set to be a Sheetz, as some building permits for a Sheetz were issued last month. That plot looks to be owned by the family that owns Strange's Florist and there are some plans filed for a Strange's elsewhere on that site, but I don't know whether that's actually happening.

The other above-mentioned spot in Highland Park looks like it sold to an Arlington firm earlier this year and plans have been filed for "a gravel storage yard." there.

February 29

6 hours ago, ancientcarpenter said:

Question: Whenever I hear people complaining about too many apartments being built and not enough "for sale" units, a common response is "the apartments will eventually become for sale" - where is this coming from? Is there a 10/20/30 year strategy by these apartment developers to turn the apartments into for sale units after they hit their profit margin? I imagine it's a delicate balance between profit taking, time, and maintenance costs going up as the units age and at what timeframe does the apartment company look at it and say "too much cost... now is time to put lipstick on these apartments and sell them as condos and just charge a monthly HOA fee for maintenance."

Or maybe I'm making all of this up... can someone steer my (lack of) knowledge clear?

I haven't heard much about this. The only recent instance I can recall is the former Saint Gertrude's campus in the Museum District. SNP Properties is converting it into 39 apartments with plans to later turn them into for-sale condos.

February 16

1 hour ago, I miss RVA said:

@RVABizSenseMike - are y'all hearing ANYTHING about this over at RBS? This seems to have become somewhat of a black box.

This is on our to-do list.

February 5

2 hours ago, I miss RVA said:

@RVABizSenseMike - will RBS do a follow-up on this once Saunders closes on - and reveals - the Richmond location? Inquiring minds want to know!

We most certainly will.

January 25

2 hours ago, I miss RVA said:

Not sure we've ever seen any rendering or project details - this looks new. I do think I recall when the property itself sold a year or so ago. According to the South Richmond News article, this corner has sat vacant for the past 17 years - so it will be a HUGE boost to this part of "upper" Manchester (14th and Hull) begin to catch fire development-wise. While there are still plenty of undeveloped parcels in lower Manchester (meaning, north of Commerce Road), it's great to see development also beginning to leap over Commerce into some of the higher numbered streets between Commerce and Cowardin Avenue. Provided I live long enough, I can't wait to see what Manchester will look like in 20-25 years.

Particularly given the footprint being developed, this building definitely has some size to it.

@RVABizSenseMike- what rumblings have the RBS staff heard about this?

I covered this one last May. It's a project from the heads of Walter Parks Architects, RJ Smith Cos. and SRC Construction. Their special-use permit is still under review. I reckon we'll cover it again once it makes its way to the Planning Commission.

January 24

1 hour ago, I miss RVA said:

Definitely merits monitoring.

@RVABizSenseMike-- any chance this is on the RBS staff's radar?

Yeah, I believe one of my colleagues will be attending and covering the meeting tomorrow night.

December 28, 2023

22 hours ago, I miss RVA said:

@RVABizSenseMikehas a comprehensive roundup of 2023 development activity in today's RBS. Mike hits all the highs and lows in the RVA development arena in a good lookback at 2023. Lots of good stuff happened this past year, and with interest rates and inflation both looking like they're coming down, 2024 could well be a banner year for development in metro Richmond.

From today's RichmondBizSense:

https://richmondbizsense.com/2023/12/27/development-roundup-for-2023-interest-rates-slowed-things-down-but-developers-carried-on/

A PERSONAL NOTE: Humble thanks to @RVABizSenseMikeand all the fine folks at RichmondBizSense for outstanding reporting in 2023. A number of RBS stories - particularly the series on the VCU Health/Block D development debacle - are worthy of Virginia Press Association awards - and they absolutely should be nominated. Great investigative journalism, very much worthy of recognition by the VPA. For what it's worth, Mike - and we don't dispense these lightly - you've more than earned the RVA/UP community's highest and most prestigious award for this past year's consistent, outstanding reporting and tireless work: the RVA/UP GOLD PORT-A-POTTY TROPHY - marking just the third such piece of gold hardware ever awarded in the RVA/UP community. MAZAL TOV, Mike!! VERY much deserved!!

May 2024 bring a bumper crop of new developments and projects big and small all across metro RVA to keep your daily and weekly storyboards filled to the brim. Again great work this past year, Mike. Well done - and from all of us at RVA/UP - our collective and heartfelt thanks!

Thanks y'all. I think I can speak on behalf of the whole RBS newsroom when I say I appreciate the RVA/UP community's continued readership and support. It's a cliche but we truly wouldn't be able to do what we do without dedicated, engaged readers like yourselves.

Cheers and happy holidays, all.

December 21, 2023

1 hour ago, I miss RVA said:

@RVABizSenseMike- have you heard anything further regarding the Outlier?

I haven't heard anything since the aforementioned October report. Since they first filed plans for that project in 2020, Outlier's been tricky to get ahold of. When I spoke with them in October, the person with whom I spoke sounded very confident that the project is still on track.

I was by the site earlier this week and it looked like it still just had fencing up. I also haven't seen any permits filed for it in recent weeks.

October 20, 2023

15 hours ago, eandslee said:

Hopefully, RBS can hire enough folks to give the airport a little attention, which by the way, has a HUGE impact on local businesses. Just wanted to highlight the one glaring gap I see in RBS’s reporting. This is not to downplay any of their current reporting, which in my opinion, is excellent reporting! They just don’t have the bandwidth/expertise or senior leader support to add any focus on the airport right now (at least, that was my understanding…correct me if I’m wrong, Mike).

With that said, it would be awesome if one of us ended up joining the RBS team! So, if any of you have some extra time on your hands…please apply!

In my humble opinion, YOU should write for them from time to time. You have a journalist background and your writing is on point! I’m thinking something like a special series-type writer for RBS (not every day…maybe once or twice a month). What do ya say? I mean, if RBS would entertain something like that…

Airport coverage is something I've run up the line and there's interest there. I reckon hiring another reporter might help pave the for us to increase our coverage of transit in the region in general.

October 19, 2023

Figured I'd share this here: BizSense is looking to grow its staff.

We're hiring for a general assignment reporter to join our newsroom. The above link to the listing has all the details. If y'all are interested, or know anyone who might be, please feel free to check it out. I know some of y'all here love digging through public documents as much as we do, so I'd be remiss if I didn't share this.

I'm not the one doing the interviewing/hiring but if you have any questions, feel free to DM or email me at [email protected].

-

Mike

August 15, 2023

15 hours ago, I miss RVA said:

Not for new roads, I'm sure.

Maybe GRP's fishing expedition is landing something?

Oh @RVABizSenseMike-- anything on the RBS radar screens showing activity southwest of Magnolia Green?

Nothing that far west, that's verging on Amelia from the looks of it. I've heard scuttlebutt about gears turning in the Upper Magnolia and Otterdale-360 areas of Chesterfield but nothing concrete.

August 9, 2023

14 hours ago, I miss RVA said:

@RVABizSenseMike- realizing you might not be able to comment at this point, but has there been even the slightest ripple of movement to come across your radar screens?

I haven't personally been on this story but I know my colleagues have been. I don't know much to be honest. I think the city's still in the review process, but that's just my speculating.

July 31, 2023

2 hours ago, eandslee said:

...or were those the even the "big stuff?" Might there be a possibility of more?

The Sauer phase II was definitely a massive one.

I'm working on a few other things that I think UP will be especially stoked about, but I don't want to over-promise. Stay tuned.

July 27, 2023

Not to get caught in semantics but just to explain how we arrived at the 9-story figure: The plans describe the building height as 8 stories above grade, and the roof isn't technically listed as a story so based on plans, there would only be 9 full stories of living area. That said, I do understand how the roof could be seen as a "story" but in this instance I leaned on what the plans described.

July 25, 2023

We certainly notice a bit of a mid-summer slowdown every year (feels like half the town is on vacation right about now) but there's some big stuff we're chasing that will hopefully be ready for press soon.

June 27, 2023

21 hours ago, I miss RVA said:

@RVABizSenseMike- have you guys at RBS heard anything?

It's my understanding that the Silos project is still in the planning process. I would frankly be shocked if that project got scrapped.

June 22, 2023

2 hours ago, I miss RVA said:

P.S. - Sorry @RVABizSenseMike-- I hate to break it to ya., but... our intrepid sleuths here at RVA/UP once again got the scoop - we had this a full 24 hours before the RBS story was published.

Can't win them all, kudos to you lot!

If you'll indulge me, I'll use this as a chance to shamelessly plug something we've actually been doing with VPM since the start of the year: BizSense Beat.

Every week one of us at RBS calls into VPM and does a ~4-minute radio recap of some of the week's biggest news during NPR's Morning Edition. It usually airs Friday morning and they also post the recording online after the fact. It's been fun to get to know some of the folks at VPM.

June 15, 2023

22 hours ago, I miss RVA said:

THANK YOU, @RVABizSenseMikefor the clarification! I'm exhaling now and feel a LOT better knowing this.

Mike - I do believe that you have yet again qualified for our community's MOST prestigious award - the OFFICIAL RVA/UP "YOU DA MAN AWARD" SILVER PORT-A-POTTY trophy - which is given to community members for stepping up to the plate with key information, photos, etc., - particularly in response to a time-sensitive issue or question. You've qualified several times - and I am unfortunately way behind on getting awards out to folks (real life keeps distracting me somehow).

@Hike-- this is a very special award, given who the recipient is - would you, as the OFFICIAL Engraver of the RVA/UP community have a few minutes to do the honors?

Hah, that would be an honor! I really do appreciate y'all's continued readership of RBS -- it's fun to see other folks who nerd out on local development the way we do.

June 14, 2023

22 hours ago, I miss RVA said:

@RVABizSenseMike-- do you or your colleagues know what's up with this?

Yes, it's my understanding it's an administrative thing.

There were a pair of amendments to the SUP regarding easements/green space to the property that were added at the Planning Commission, so that's why it had to head back to Council before being voted on for an approval/disapproval vote. I'm anticipating it'll be on the consent agenda at Council's June 26 meeting.

April 27, 2023

16 hours ago, I miss RVA said:

Fully agreed!

@RVABizSenseMike- I know (and appreciate that) there are a lot of stories in the hopper for the RBS staff (meaning lots of very full plates) and no one reporter who is necessarily on the "airport beat" - but honestly, 385K passengers in March - an all-time record for the month - IS newsworthy, wouldn't you agree?

Maybe worth at least a few lines of copy and a few quotes from airport officials, no?

I saw the same report and am talking it over with the powers at be.

April 19, 2023

4 hours ago, I miss RVA said:

Cool. Thanks for confirming, @123fakestreet

@RVABizSenseMike -- this parcel might be one you & your team want to keep and eye on for any transactions that happen. That whole area of town is transitioning and this parcel would be a likely candidate to see new development forthcoming.

I've been tracking this, stay tuned...

April 17, 2023

On 4/14/2023 at 11:43 AM, rjp212 said:

Did anybody catch the meeting last night? I caught the tail end of them talking about a SUP for this property, but only could see the parking lot portion.

(Obligatory note that this is not to be taken as official BizSense reporting)

I was there and the planned SUP is to turn the vacant lot into a parking lot. A nearby IT firm owns the land and they want to use the lot for employee parking.

April 13, 2023

2 hours ago, I miss RVA said:

Yep! And herewith is Mike's reporting. As always, a few takeaways and thoughts:

First and foremost - KUDOS to @RVABizSenseMikefor his absolutely OUTSTANDING reporting on this story.

As a former journalist with The Associated Press, I have to say I am very impressed with the depth, breadth and scope of this article -- and the delivery of the facts and details in a clear style that even we layman can understand, along with the writing flair that's uniquely Mike's. This is good shoe-leather journalism at its very finest, and if I were in a position to have any say, I would gladly & absolutely nominate both Mike and this article for a Virginia Press Association award for top business writing. Mike, this is one of your best pieces that I can remember reading, if not THE best - and I honestly do hope someone in the industry puts you up for a VPA award for 2023. You definitely are worthy.

Thank you for the kind words, I really appreciate it.

April 12, 2023

20 hours ago, I miss RVA said:

@RVABizSenseMike-- have you guys heard any kind of word on the street about this? It seems like the RT-D stumbled upon these developments while they were just doing some follow-ups. As you've seen in the thread, apparently there've been some rumblings within the CRE industry. It's got a bad feel to it.

We are tracking this, stay tuned.

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