Last Wednesday, March 14th, I attended the Annual Downtown Development Forum.  This event is put on by Venture Richmond, an organization that works with business and community leaders as well as the City to promote
Richmond through economic development, marketing, promotion, advocacy and events.

            The event was truly inspiring and showed a lot of promise for
Richmond.  Many of our classes focus on the detrimental effects of certain types of development and how the vibrancy of downtown areas and cities is being lost to strip malls and cul-de-sacs.  In
Richmond it seems that developers, businesses, restaurateurs, and educators have full faith in the potential of downtown as a densely inhabited location where people eat, sleep, work, and play.  This is seen through the sheer amount of construction and investment going on in the city.  Fortunately, much of this development falls under the definition of smart growth and some of the latest trends in this type of development can be witnessed right here in Richmond.  I will summarize some of the most interesting projects for you here:

 

VCU –Virginia
Commonwealth
University currently has $1 billion of construction in progress.  They are renovating what used to be the First Baptist Church into a student commons, their new Nursing school opens this week, they are opening a 2nd medical science research lab (they are currently receiving $210 million in research funding), the Critical Care Unit of MCV expansion is almost complete, work on the Monroe Park Campus (their new Engineering and Business school) will be complete this December, they are renovating their AdCenter.

            Some interesting land use points within the VCU construction are the construction of residential and parking units within their new schools, the inclusion of national chain restaurants within the newMonroe
Park campus, and a direct output of cars from a parking garage onto the expressway.


Virginia
Bio-Tech
Park – Two new sites under construction BiotTech 8 and 9 could potentially bring 2,500 new jobs to
Richmond.  BioTech 8 will be a wet lab capable research building and will be built to LEED certification.

Virginia Performing Arts Foundation – is undertaking a $65 million expansion and renovation of theCarpenter
Center in a project called CenterStage.

The Virginia Capital Trail – An interesting project to connect the cities of Richmond, Jamestown, and
Williamsburg with a mixed-use trail has been started with the Governor’s approval.

 

Jackson Ward – The neighborhood of Jackson Ward is seeing growth with the construction of many new condos.  One building sought and received Historic Tax Credits for its construction because of its significance in the civil rights movement.  Jackson Ward is marketing itself as “
Richmond’s Oldest and Newest Cosmopolitan Neighborhood”.

 

Old Manchester District – Developers Robin Miller and Dan Gecker plan to develop the 30 acres they hold in the Old Manchester District with New Urbanist zoning principles in mind.

 

Plant Zero – Just across the

14th St.

bridge development in strong in this old industrial warehouse area.  This area, just outside of downtown, has attracted a law firm and real estate agency to complement the existing creative art spaces and condominiums.  New Market Tax Credits were used in its construction, the first time these credits have been used in
Central Va.

Infill Development – Many of the apartment, condominium, and restaurant projects under construction downtown are examples of infill development and are utilizing existing structures.  Notable building sites include:  Mother Hubbard’s Bakery, the Lucky Strike Building, Tobacco Row, and the Dill Factory. 

Green Building– One developer has 8 Eco-Flats underway on Brook Rd.  They are apartments geared towards students and are LEED certified.

MeadWestVaco – headquarters to be complete in ’09 at Foundry Park.


Federal Courts Building – complete in ‘08

Miller and Rhoads Hilton Hotel – parking issues are being resolved and construction should commence soon.

 

Capitol Renovations – should be complete in May

 

            All of this construction and development is great for the city.  However I do have one concern, of the units constructed an inordinate amount are high end/upper income level apartments.  Some developers are working on specifically student and work force affordable housing, but not enough.  Hopefully,
Richmond’s popularity will continue to grow and attract more employers so that all of these residential units will be bought and the downtown community will continue to be strengthened.