Plans were announced today to convert Richmond, Virginia’s last riverfront parcel into a premier mass timber mixed-use property. Developed by Hourigan, a fully integrated construction and development firm, and designed by Kahler Slater, international design and architecture firm, the new development will feature a 130,000 SF office building, 11,000 SF for ground-floor retail, plus a 20-story luxury residential tower.
Situated on the James River, the future development will provide opportunities to live, work, and experience a dynamic urban environment. The office building will focus on spaces that inspire collaboration and healthy cultures. Experiential retailers will add a keen vibrancy to the area’s amenity base. Additionally, the high-rise will offer upscale living with unparalleled and unobstructed views of the river and downtown Richmond. Residents will have access to other lifestyle components including a rooftop pool, co-working spaces, and an outdoor terrace.
Kahler Slater Vice President and Design Principal, Trina Sandschafer states “This high-profile project requires a bold design solution to maximize the opportunity of the riverfront site. With a shared vision for sustainability and design excellence, our team is excited to partner with a forward-thinking client to deliver on these goals."
The design of the office building includes use of eco-concrete and cross-laminated timber (CLT), a structural material that provides strength, versatility, and a positive environmental impact by storing CO2 and enhancing indoor air quality. Additionally, the use of wood in office environments has been shown to add a sense of well-being for employees.
“At a time when companies are re-evaluating their workspace, we’re seeing an increased demand to create ‘differentiated’ office environments that are inspirational to employees and have sustainability at the core. We’re excited to bring those elements together in a next generation facility that benefits both occupants and the surrounding community,” said Mark Hourigan, CEO of Hourigan.
This development also estimates it will add 300-400 jobs during construction and attract 300-500 new jobs to the area once complete. Potential tenants have already expressed interest in the commercial spaces.
“Mixed-use developments encourage economic growth and vitality in communities, and this project will positively impact the City of Richmond and the entire region,” said Jason El Koubi, President and CEO of the Virginia Economic Development Partnership (VEDP).
Additional project partners include Timmons and JLL. Demolition at the site will begin later this year with construction slated to begin in the second quarter of 2023. The targeted completion date is mid-2025.
“This project is an investment in the future of Richmond,” said Al Krueger, Chief Executive Officer of Kahler Slater. “Along with our partners at Hourigan, Kahler Slater is pleased to continue our commitment to growing the city by creating great spaces for the community.”