Richmond February 2023 – Key Take Aways
Maynard Grizzard – Whiting-Turner
- There is a robust backlog, plenty of opportunity for new jobs.
- Biggest focus at the present time is CoStar in downtown Richmond.
- Diamond district project is moving a little slower due to finalizing agreement with the city of Richmond. Should be moving the forward later this year and next year. Biggest focus is to get Stadium going.
- Warehouse project with Holiday Properties is going well.
Rebecca Costanzo – Align Design
- Licensed architect specializing in predesign, schematic design, and visualization.
- Developers aren’t wanting slick renderings; they are looking for more sketchy designs.
- Developers are engaging community feedback and she is focusing on those designs to engage the feedback also.
- Using “movie” footage to show clients instead of headset virtual realty.
Charles Piper – Quinn Evans
- State budget did not fund much in way of additional work for state agencies, universities.
- This will show results later down the road, next year and the year after. Less funds equate to less work.
- Have submitted several proposals to K12 schools.
- Over $100 million worth of work going out this Spring.
Ashley Kyle – Roth Jackson
- Works out of Tysons Office in Northern VA.
- Is also a Transactional Attorney and based on meetings this past week, commercial lenders are slowing down commercial real estate deals.
- Seller financing terms on commercial real estate deals are becoming more common.
- Balancing out Developers not having all specifics outlined and County wants more details presented.
Angela Oakes – Greater Richmond Partnership
- Vice President of Strategy at Greater Richmond Partnership.
- Regional economic development group representing Hanover County, Richmond City, Chesterfield County, and Henrico County.
- Slight dip in new leads coming through in November, December but they are picking up now.
- Focusing on advanced manufacturing and life-sciences space.
- Planning travel and shows for 2024 fiscal year.
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