Foundry Park - CoStar HQ

[I miss RVA]

1 hour ago, wrldcoupe4 said:

Yep I do. 

From your keyboard to God's eyes, my friend! 

[Shakman]

3 hours ago, Child2021 said:

Hopefully they purchase the plot of dominion abandoned, since you know that organic growth hasn't really went vertical yet.

I was thinking the same before reading your post.

[eandslee]

40 minutes ago, Shakman said:

I was thinking the same before reading your post.

But hopefully something EPIC is built on that block.  Anything less than the city’s tallest/Virginia’s tallest would be a huge disappointment…kind like the Townbank building.  Something taller should have gone there for sure. 

[I miss RVA]

44 minutes ago, eandslee said:

But hopefully something EPIC is built on that block.  Anything less than the city’s tallest/Virginia’s tallest would be a huge disappointment…kind like the Townbank building.  Something taller should have gone there for sure. 

It'll be interesting to see, especially considering our hypothetical involves CoStar. Wasn't it "unofficially" known (at least here in our community) that had not the pandemic happened, the CoStar tower currently being built WOULD have actually been taller, yes? Am I remembering correctly?

[eandslee]

5 minutes ago, I miss RVA said:

It'll be interesting to see, especially considering our hypothetical involves CoStar. Wasn't it "unofficially" known (at least here in our community) that had not the pandemic happened, the CoStar tower currently being built WOULD have actually been taller, yes? Am I remembering correctly?

Not sure. Thought that was mostly hearsay or rumor.  If true, I hate to think of what could have been, although the silver lining could turn into CoStar building towers (plural) elsewhere downtown too!

[plain]

At this point I believe that if CoStar doesn't buy that block, a developer with residential or mixed-use in mind should buy it. Yeah Dominion took it back off the market (prematurely in my opinion, like a few other decisions they've been making over the last couple years) but quite a few cities both domestic and worldwide have been building residential towers that exceeds their tallest office towers in height. The same thing could happen here, and that's a pretty good place to start.

[eandslee]

Anyone have any recent photos of the construction site?  I can't be for sure, but it looks like something is coming out of the ground based on the view from the webcam, but I also saw some drone footage a couple weeks ago that showed the elevator shafts starting to rise above the ground.  Was just looking for a more recent photo showing the site to see what the current status is.  Thanks in advance, if you have what I'm looking for!

[I miss RVA]

9 hours ago, eandslee said:

Anyone have any recent photos of the construction site?  I can't be for sure, but it looks like something is coming out of the ground based on the view from the webcam, but I also saw some drone footage a couple weeks ago that showed the elevator shafts starting to rise above the ground.  Was just looking for a more recent photo showing the site to see what the current status is.  Thanks in advance, if you have what I'm looking for!

And I'll make an offer to sweeten the pot just a bit - the lucky provider of said updated photos will be the recipient of a shiny, new, freshly-polished, prestigious, highly-sought-after, OFFICIAL RVA/UP Silver Port-a-Potty trophy. Whether you've never won the award yet - or a have a garage full of silver loos that your wife/partner/family won't let you bring into the house - it's certainly tremendous incentive to get feet on the ground with cameras in hand   to snap a few updates for the community and for our community archives. 

[Flood Zone]

On 12/15/2023 at 12:57 PM, I miss RVA said:

Wasn't it "unofficially" known (at least here in our community) that had not the pandemic happened, the CoStar tower currently being built WOULD have actually been taller, yes? Am I remembering correctly?

I think there were a lot of rumors regarding height -- and then, of course, there was confusion regarding "CoStar Feet" -- but I'm not sure how much the pandemic played into it. CoStar was notable for being one of the first and most aggressive employers in terms of getting back to the office.

[asies]

On 12/15/2023 at 9:55 PM, plain said:

At this point I believe that if CoStar doesn't buy that block, a developer with residential or mixed-use in mind should buy it. Yeah Dominion took it back off the market (prematurely in my opinion, like a few other decisions they've been making over the last couple years) but quite a few cities both domestic and worldwide have been building residential towers that exceeds their tallest office towers in height. The same thing could happen here, and that's a pretty good place to start.

The tallest building in downtown Salt Lake City is a mixed-use residential tower (it is still under construction but is nearly topped out).  Additionally, the only other skyscraper under construction in that city is also a residential tower. Most new towers across the country are either mixed-use, hospitality, or residential.  Richmond needs to do more to bring people back downtown. Redvelopment of the collesium and adjacent blocks will help but we need a more active and engaged downtown alliance to really help downtown Richmond take off.

[eandslee]

Agreed. I always thought that Richmond’s next tallest tower would need to be of the mixed use variety. That was even before CoStar.  CoStar was an unexpected gift!

Edited December 18, 2023 by eandslee

[Flood Zone]

Downtown needs new and better lighting. I don't mean the Grand Illumination stuff, which is great. I mean street level lighting. Everything is dreary and drab and not conducive to being out and about at night. Also, if there ever is a big residential tower downtown, a better grocery store option than Church Hill or a boat load of bodegas.

[Shakman]

18 hours ago, Flood Zone said:

Downtown needs new and better lighting. I don't mean the Grand Illumination stuff, which is great. I mean street level lighting. Everything is dreary and drab and not conducive to being out and about at night. Also, if there ever is a big residential tower downtown, a better grocery store option than Church Hill or a boat load of bodegas.

I agree with the street lighting.  It needs to be consistent and properly maintained.  Yes there should be a grand illumination of the city skyline.

[eandslee]

On 12/16/2023 at 9:20 AM, eandslee said:

Anyone have any recent photos of the construction site?  I can't be for sure, but it looks like something is coming out of the ground based on the view from the webcam, but I also saw some drone footage a couple weeks ago that showed the elevator shafts starting to rise above the ground.  Was just looking for a more recent photo showing the site to see what the current status is.  Thanks in advance, if you have what I'm looking for!

Calling our resident photographer who has snapped photos of CoStar in the past… @ancientcarpenter…please?  

[I miss RVA]

1 hour ago, eandslee said:

Calling our resident photographer who has snapped photos of CoStar in the past… @ancientcarpenter…please?  

I second that motion. 

   Pretty please??

[Child2021]

[eandslee]

Saw this on social media just now and wanted to post it here.  It was posted about 3 days ago, but gives a perspective of ground zero at CoStar:

 

[CitiWalker]

22 hours ago, eandslee said:

Saw this on social media just now and wanted to post it here.  It was posted about 3 days ago, but gives a perspective of ground zero at CoStar:

 

Looks like the main building is about to  peak above ground very soon. I can see having the first floor complete in a couple of week or at most by the end of January.

[blake_p]

[I miss RVA]

21 hours ago, blake_p said:

@blake_p-- WOWWW!!! You've been a one-person "tour de force" with your collection of OUTSTANDING and incredibly timely photos (both a few weeks ago and this past weekend). For your magnificent photographic collection this week, you have earned yet another piece of prestigious RVA/UP SILVER HARDWARE to adorn your home for the start of 2024. Mazal Tov!!!

I'm presenting you with the first award of 2024 here in this thread - but it's for your entire group of fantastic photos across the several different sub-threads collectively. Well done, my friend! And indeed - please keep 'em coming!

Edited January 2 by I miss RVA

[flaneur]

I did a full downtown walk on both sides of the river last week and happened to take these two pics of the site. My friend's husband is doing some of the electrical work and he said they're on a very fast schedule. He'd never heard of CoStar feet so I educated him when he said "it's going to be the tallest building in the city."

[eandslee]

39 minutes ago, flaneur said:

I did a full downtown walk on both sides of the river last week and happened to take these two pics of the site. My friend's husband is doing some of the electrical work and he said they're on a very fast schedule. He'd never heard of CoStar feet so I educated him when he said "it's going to be the tallest building in the city."

Thanks for posting!  Great photos!  Unless your friend’s husband is privy to some updated information on a taller design change, 425 feet is not going to make the tallest building in Richmond.  I would love for him to be correct though!

Edited January 3 by eandslee

[I miss RVA]

2 hours ago, flaneur said:

I did a full downtown walk on both sides of the river last week and happened to take these two pics of the site. My friend's husband is doing some of the electrical work and he said they're on a very fast schedule. He'd never heard of CoStar feet so I educated him when he said "it's going to be the tallest building in the city."

@flaneur-- awesome photos! AND - good job in educating your friend's husband about the legendary concept of CoStar Feet^TM. It's a very important concept for folks working on the project to grasp. Well done!

For your outstanding efforts, both photographically and educationally (regarding the important such important topics as how tall the CoStar building will be) - some OFFICIAL RVA/UP silver hardware to adorn your home. Mazal Tov!!

[Child2021]

It's starting to peek above the ground now (shafts). 

[KJHburg]

this is surprising that CoStar is moving its headquarters but not to Richmond their biggest employment based but just over the river to Arlington County Rosslyn area.

From the DC Biz Journal:

""CoStar Group Inc. (NASDAQ: CSGP) is expected to move its headquarters to Rosslyn, consolidating its presence in Virginia and dealing another blow to downtown D.C.

The real estate data giant, which has steadily grown its Virginia operations — most notably in Richmond — even while maintaining its official headquarters in the District, is near a deal to acquire the Central Place office tower in Arlington from JBG Smith Properties Inc. (NYSE: JBGS), according to sources familiar with those negotiations.

On Jan. 12, Virginia's State Corporation Commission accepted an application for a certificate of registration to amend the name of a CoStar entity formed in 2020 from CSGP Holdings LLC to CoStar Central Place HQ LLC. That document was signed by Scott Wheeler, CoStar's chief financial officer.

CoStar and Bethesda-based JBG Smith declined to comment.

The expected move represents another big economic development win for Virginia and another loss for D.C., on the heels of Monumental Sports & Entertainment's proposed relocation to Alexandria and Fannie Mae confirming it will cut its lease short at Midtown Center by five years — the mortgage giant has a major office in Reston and the option to relocate its headquarters there.

Representatives with Mayor Muriel Bowser's office and the Office of the Deputy Mayor for Planning and Economic Development were not immediately available for comment.

CoStar, incentivized by a $6.1 million, 10-year tax abatement from the District, relocated its headquarters from Bethesda to D.C. in 2010. It bought 1331 L for $41.25 million that same year, then sold it barely a year later for $101 million, earning a $60 million profit. It has remained at 1331 L, which sold again for $87 million in 2019, under 15-year lease.""

Over time, CoStar has moved to greatly expand its presence in the commonwealth, investing hundreds of millions of dollars into its Richmond-area research and operations campus — backed by Virginia incentives — and promising to deliver some 2,000 jobs. The company, which has grown largely through aggressive acquisition of the likes of Loopnet, Apartments.com, Homes.com and many others, has 5,600 employees and reported $2.18 billion in revenue in 2022, according to Washington Business Journal research.

The JBG Cos. broke ground on the 31-story Central Place residential tower at 1800 N. Lynn St. in April 2014, and the 31-story office tower, then known as the CEB Tower, at 1201 Wilson Blvd. five months later. The two combined delivered nearly 400 residences, 560,000 square feet office, 45,000 square feet of retail and restaurants and a large public plaza to a prime site directly across North Moore Street from the Rosslyn Metro station.""