Development Updates in Richmond, VA:
While Richmond isn't the largest city, it sure is on the rise. Richmond has experienced steady economic growth over the past few years, with a thriving job market and a diverse range of industries. This is attracting developers to build an abundance of multifamily and mixed-use projects.
Here are the updates to keep an eye on in the Richmond VA real estate market:
Estimated Date of Richmond Ballpark Groundbreaking
The Double-A affiliate of the San Francisco Giants, The Flying Squirrels, have expressed their preference for a new ballpark. This project is expected to be a part of the $2.4 billion mixed-use redevelopment project in Richmond on North Arthur Ashe Boulevard. Thalhimer Realty Partners the developer on this project. The goal remains to be open for the 2026 season. That is a long ways away, but will be here before you know it.
This joint venture of developers secured their financing and is set to begin this massive redevelopment. The project will include apartments, townhomes, commercial office buildings, luxury hotels, and entertainment venues. The project will be called The James at Springline consisting of 298 residential units. Construction is set to finish in 2025.
Excited to see what’s in store for this beautiful Richmond city!