Capitol / Financial District / Shockoe Slip

[I miss RVA]

23 minutes ago, Icetera said:

It appeared to be HVAC replacement on the Theatre Row building, when I drove by the other day.

Good to know. Thanks for clarifying, Ice.

Knowing that - do we have any read on where things are with demo of that crumbling garage building? Or are the powers-that-be simply going to file the paperwork and let gravity do the rest?

[Brent114]

That crumbling parking garage is in the exact same condition that it was on Fed 1st 2023.  I’m so anxious to see something happen here.  

[I miss RVA]

2 hours ago, Brent114 said:

That crumbling parking garage is in the exact same condition that it was on Fed 1st 2023.  I’m so anxious to see something happen here.  

Thanks for clarifying. Much appreciated.

Man - I see the developers are intent on allowing gravity to do the heavy lifting.   

[Shakman]

On 2/1/2024 at 9:05 AM, I miss RVA said:

Thanks for clarifying. Much appreciated.

Man - I see the developers are intent on allowing gravity to do the heavy lifting.   

It's cheaper.

Edited February 2 by Shakman

[I miss RVA]

2 hours ago, Shakman said:

It's cheaper.

Until someone gets hurt or worse, God-forbid.

[RiverYuppy]

It looks like the demolition is complete.

[eandslee]

2 minutes ago, RiverYuppy said:

It looks like the demolition is complete.

Oh, that’s going to make a nice park. /s 

[I miss RVA]

Just what downtown RVA needs... MORE open space. 

[ancientcarpenter]

Maybe I'm the only one here but I say this is fine.

We get rid of an old building, leaving future potential for something with high density...preferably for sale high rise condos at best.

 

For now, people that live in the heart of the city get a convenient park and more green space, if a park is even planned? 

 

Seems like a win for all. 

Edited February 9 by ancientcarpenter

[Shakman]

16 hours ago, I miss RVA said:

Just what downtown RVA needs... MORE open space. 

When weeds start to grow we can call it an organic park.

Edited February 9 by Shakman

[Icetera]

11 minutes ago, Shakman said:

When weeds start to grow we can call it an organic park.

Perhaps they will add a nice fountain that will never have water running?

[I miss RVA]

1 hour ago, Shakman said:

When weeds start to grow we can call it an organic park.

Welp... RVA DOES seem (for whatever reason) to favor "organic growth".   

Edited February 9 by I miss RVA

[Brent114]

Organic growth is best,  that’s why SA and Manchester  are booming while City Center, the Diamond District, Green City etc are devoid of activity. 
 

That said, I do hate this as open space, even if it’s briefly.  The side of the  old Dominion building beside it looks unfinished now.  

I’m going to chain myself to the Monroe building when the state tries to demolish it.  That will be the biggest blunder in Richmond history since massive resistance. 

[Flood Zone]

2 hours ago, Brent114 said:

I’m going to chain myself to the Monroe building when the state tries to demolish it.

OK, but fair warning. That building ain't for the faint of heart. Even coming within 50 yards of it is hazardous to your health.

[I miss RVA]

2 hours ago, Brent114 said:

Organic growth is best,  that’s why SA and Manchester  are booming while City Center, the Diamond District, Green City etc are devoid of activity. 
 

That said, I do hate this as open space, even if it’s briefly.  The side of the  old Dominion building beside it looks unfinished now.  

I’m going to chain myself to the Monroe building when the state tries to demolish it.  That will be the biggest blunder in Richmond history since massive resistance. 

1.) Organic growth: This is true. SA and Manchester need no push to boom. We'll see if things ever start moving forward in City Center, Diamond District and GreenCity. Something else to consider: every one of our primary competitor cities that have been eating our lunch with their explosive growth have all been booming organically. Success begets success. Perhaps a much better public-private partnership that would be worth every dollar invested would be beefing up the airport. Just a thought.

2.) Open space at 7th & Main: my fear is that -- if i actually have grandkids -- by the time THEY are grandparents, that parcel at 7th and Main will STILL be a squirrel habitat.

3.) Monroe Building: I'm with you there, brother. I just might have to fly down from the Windy City and chain myself to the building with you to try to stave off demolition.

[Downtowner]

On 2/9/2024 at 12:37 PM, Brent114 said:

Organic growth is best,  that’s why SA and Manchester  are booming while City Center, the Diamond District, Green City etc are devoid of activity. 
 

That said, I do hate this as open space, even if it’s briefly.  The side of the  old Dominion building beside it looks unfinished now.  

I’m going to chain myself to the Monroe building when the state tries to demolish it.  That will be the biggest blunder in Richmond history since massive resistance. 

I’m curious to how they plan to demolish it being right up against 95. Will they close 95 until it’s demolished? I just find this to demolish to be incredibly challenging and done correctly with no harm done to a federal interstate. It’s like walking on thin ice without going through the ice. 

[I miss RVA]

VERY interesting hidden gold nugget tucked into @RVABizSenseMike's reporting on the sale of the Branch building: The Durham, N.C.-based developer Hem + Spire has closed on a deal to sell the Branch building at 1015 E. Main Street to an as yet not-revealed buyer. Hem + Spire took a loss on the property (bought it four years ago for $1.47 million, sold it for $1.31 million).

And now - for Mike's GOLDEN NUGGET:

To refresh everyone's memory: recall that a few doors west of this building - the old bank building at 1005 E. Main - in the other end of the Ironfronts - was purchased at auction by the father-son duo Antar and Nael Abouzaki, who have grand plans for the property. APPARENTLY - THAT PROJECT IS STILL IN THE WORKS!!!

From Mike's reporting:

Thursday’s auction came about three years after another nearby property, the old bank building at 1005 E. Main St., sold at auction. 

The buyer in that deal was father-son duo Antar and Nael Abouzaki. Nael said this week that they’re still planning to build about 12 floors of condos in the building’s upper levels, but that their focus is currently on their pending development at 931-933 W. Grace St., near VCU.

For that project, they plan to raze the two existing structures to make way for a three-story mixed-use building with 21 apartments plus ground-floor commercial space. He said they’re finalizing financing for that project and hope to have work going this summer. 

WOW!! I was actually wondering whether or not this project might still be in the pipeline. Seems like it actually is.

Definitely something to keep an eye on over the next few years.

From today's Richmond BizSense:

https://richmondbizsense.com/2024/02/23/downtowns-branch-building-sells-at-auction-for-less-than-what-seller-paid-four-years-ago/

[ancientcarpenter]

37 minutes ago, I miss RVA said:

VERY interesting hidden gold nugget tucked into @RVABizSenseMike's reporting on the sale of the Branch building: The Durham, N.C.-based developer Hem + Spire has closed on a deal to sell the Branch building at 1015 E. Main Street to an as yet not-revealed buyer. Hem + Spire took a loss on the property (bought it four years ago for $1.47 million, sold it for $1.31 million).

And now - for Mike's GOLDEN NUGGET:

To refresh everyone's memory: recall that a few doors west of this building - the old bank building at 1005 E. Main - in the other end of the Ironfronts - was purchased at auction by the father-son duo Antar and Nael Abouzaki, who have grand plans for the property. APPARENTLY - THAT PROJECT IS STILL IN THE WORKS!!!

From Mike's reporting:

Thursday’s auction came about three years after another nearby property, the old bank building at 1005 E. Main St., sold at auction. 

The buyer in that deal was father-son duo Antar and Nael Abouzaki. Nael said this week that they’re still planning to build about 12 floors of condos in the building’s upper levels, but that their focus is currently on their pending development at 931-933 W. Grace St., near VCU.

For that project, they plan to raze the two existing structures to make way for a three-story mixed-use building with 21 apartments plus ground-floor commercial space. He said they’re finalizing financing for that project and hope to have work going this summer. 

WOW!! I was actually wondering whether or not this project might still be in the pipeline. Seems like it actually is.

Definitely something to keep an eye on over the next few years.

From today's Richmond BizSense:

https://richmondbizsense.com/2024/02/23/downtowns-branch-building-sells-at-auction-for-less-than-what-seller-paid-four-years-ago/

 

Am I reading this correctly: They would build 12 floors on top of the existing 4-5 story building? I'm in a meeting distracted and also need coffee so my brain is  off ...but this sounds so very expensive. 

[I miss RVA]

1 minute ago, ancientcarpenter said:

 

Am I reading this correctly: They would build 12 floors on top of the existing 4-5 story building? I'm in a meeting distracted and also need coffee so my brain is  off ...but this sounds so very expensive. 

I'd have to go back and find the original story from a couple of years ago. I'm not sure. I thought they were planning to renovate the upper floors of the building (which would be something like three floors) and then add an additional number of floors to reach a total of 12 of residential. Not sure. Mind you - if they DID build a full 12 floors of residential atop the current building, we'd be looking at a 16 or 17-story apartment building in the heart of the legacy Financial District. As you said - that would come with quite a bit of expense. 

Short answer is: I don't think that's where they're going with this - but I can say for certain (and I honestly don't remember).

[ancientcarpenter]

21 minutes ago, I miss RVA said:

I'd have to go back and find the original story from a couple of years ago. I'm not sure. I thought they were planning to renovate the upper floors of the building (which would be something like three floors) and then add an additional number of floors to reach a total of 12 of residential. Not sure. Mind you - if they DID build a full 12 floors of residential atop the current building, we'd be looking at a 16 or 17-story apartment building in the heart of the legacy Financial District. As you said - that would come with quite a bit of expense. 

Short answer is: I don't think that's where they're going with this - but I can say for certain (and I honestly don't remember).

This would be a premier property. No matter which direction any condo looks they will have impressive views:

East - Shockoe + river + churchill + rolling hills + train

West - City view

South - City views + river + Manchester

North - Direct and most clear view in the RVA of  the Capitol building + new (navy hill) development city views + possible sighting of me walking by the capitol to and from work

 

If they're "for sale" condos I'm curious how shiny of a penny these would go for. I'd highly consider it if I wanted city living and didn't have kids, especially if I didn't want to use my car much - the bus is free and has been truly amazing in my subjective opinion

Edited February 23 by ancientcarpenter

[Brent114]

It was my impression that the 12 floors were in another property that they owned west of this location on Main Street.  I assumed it was one of this bank building conversions but they are taller than 12 floors so I found it all very confusing.  I read it at 6 am while snoozing between alarms. 
 

12 additional floors on the Branch building would be neat, I doubt they city would allow that though.  I guess with the right setback it wouldn’t look like a building in one of the countries that ends  in “stan”. 

[I miss RVA]

13 minutes ago, Brent114 said:

It was my impression that the 12 floors were in another property that they owned west of this location on Main Street.  I assumed it was one of this bank building conversions but they are taller than 12 floors so I found it all very confusing.  I read it at 6 am while snoozing between alarms. 
 

12 additional floors on the Branch building would be neat, I doubt they city would allow that though.  I guess with the right setback it wouldn’t look like a building in one of the countries that ends  in “stan”. 

If I remember the original article correctly, I kinda remember that the additional floors would be built toward on the back half of the building - so virtually all of the height would be abutting the alley and might not even be visible much if at all at street level from Main Street. I believe that's how they could potentially get away with building significant height on the property without running afoul of the CAR, so long as the external materials are "sympathetic" to the existing structure. I'd tend to think that they're not planning on making any kind of changes or modifications at all to the historic front of the building. 

[Brent114]

Well then, this is very exciting! 

[Child2021]

Virginia legislature asserts authority over state buildings (richmond.com)

The turf war has broken into the open in downtown Richmond, home to the Capitol and buildings housing the seat of state government. The Senate and House budgets both challenge a unilateral decision that Youngkin made last year to cancel a plan, included in the current budget and the one he introduced in December, to build a new office building at East Seventh and East Main streets on the site of the former Virginia Employment Commission headquarters, which the state demolished this month.

Instead, the administration unveiled a plan last month that would keep the cleared site green indefinitely, while demolishing the 29-story Monroe Building and moving state agencies housed there into Main Street Center at 600 E. Main St. in downtown Richmond or other office space that the state owns or leases.

“What the governor is proposing is a pretty significant divestment in the city of Richmond, without taking into consideration the previous dictates of the General Assembly,” said Sen. Jeremy McPike, D-Prince William, chairman of the Senate Finance subcommittee that included provisions in the budget to assert control of Old City Hall and reverse the administration’s plans for downtown.

Both budgets would remove $50 million the administration had earmarked to demolish the Monroe Building and renovate Main Street Center, currently home of the Virginia Lottery.

The Senate budget would keep planning and construction of the office building at Seventh and Main in the capital outlay plan. The House budget would use the money to plan for state offices at the Virginia Department of Transportation annex on East Broad Street that it said the department expects to vacate soon and provide additional money for maintenance of the Monroe Building “until plans are finalized to relocate its existing tenants.”

The House would also keep $3 million in the budget for planning a new building at Seventh and Main.

Under the Youngkin administration’s new plan for the seat of government, two of Monroe’s current tenants would occupy part of Old City Hall, currently divided between the executive and legislative branches.

The battle over control of Old City Hall has been simmering for more than a year. Last year, before the $71 million renovation of the building had been completed, the Youngkin administration said the occupants of the building “are to be determined.”

That came as a surprise to House Clerk Paul Nardo and Senate Clerk Susan Clarke Schaar, who were already planning to move the Division of Legislative Automated Systems and the Capitol Police into Old City Hall. The two legislative branch agencies moved into the building last fall.

The Senate tucked its own surprise into the back of the budget it approved last week. In a section clarifying various state agency charges for food, housing, building and parking services, the budget declares that both Old City Hall and the new 500-space parking deck, with adjoining offices, “shall be under the control of the Committee on Joint Rules and administered by the Clerk of the House and the Clerk of the Senate.”

 

This is just a whole mess, but looks like the Monroe might not come down after all. 

[I miss RVA]

40 minutes ago, Child2021 said:

Both budgets would remove $50 million the administration had earmarked to demolish the Monroe Building and renovate Main Street Center, currently home of the Virginia Lottery.

The Senate budget would keep planning and construction of the office building at Seventh and Main in the capital outlay plan. The House budget would use the money to plan for state offices at the Virginia Department of Transportation annex on East Broad Street that it said the department expects to vacate soon and provide additional money for maintenance of the Monroe Building “until plans are finalized to relocate its existing tenants.”

The House would also keep $3 million in the budget for planning a new building at Seventh and Main.

 

This is just a whole mess, but looks like the Monroe might not come down after all. 

Wow... this does look promising, at least for a while.