A sampling of Virginia’s largest construction projects of 2005-06

by Otesa Middleton Miles
for Virginia Business
October 2006

Rocketts Landing
Richmond/Henrico County: $500 million
This 45-acre riverfront village on the banks of the James River will include 1,500 residential units, retail, office space, a marina and dock. Condo prices range from $210,000 to $1.3 million. Built on a former industrial site, the project recycled a brownfield into a high-value property. First residents are expected to be in by April of next year. Developer: WVS Cos., Richmond

APM Terminals Virginia
Portsmouth: $450 million
When complete, the new marine terminal will have the space to welcome the largest ships on the planet. The 300-acre project along the Elizabeth River will double the cargo capacity of the Port of Hampton Roads. Terminal’s first phase is expected to open by July. Developer: A.P. Moller-Maersk Group, Denmark

Monroe Park Addition,
Virginia Commonwealth University
Richmond: $228 million
The new 11-acre campus will include the second phase of the School of Engineering, a new 130,000-square-foot School of Business, two dormitories, an executive conference center and renovation of the historic Central Belting building for VCU’s AdCenter. AdCenter is expected to open by early next year, with the business and engineering buildings coming online in late 2007. 2008 is expected opening for the residential facilities. Developer: VCU, Richmond.

Critical Care Hospital,
Virginia Commonwealth University
Richmond: $179.3 million
The 15-story, 367,792-square-foot hospital is going up on VCU’s MCV campus in downtown Richmond. Project includes five underground units for parking. It will expand space for intensive care and add 232 private rooms. Completion expected in fall 2008. Developer: VCU, Richmond.

Granby Towers
Norfolk: $150 million
Construction is under way on what will be downtown Norfolk’s tallest building — a 31-story luxury high-rise condo. Crews began relocating existing utility lines for the project in September. About 35 percent of the building’s 302 units have been sold at an average price of $600,000. Six penthouses have been sold at $2 million apiece, with each unit offering 4,000-square feet. Amenities include concierge services, pool, spa, fitness center, and retail and office space at street level. Developer: Marathon Development Group, Norfolk.

One and Two Potomac Yard
Arlington County: $150 million
Two 10-story office towers offering a total of 640,000 square feet opened in May adjacent to Crystal City. The Federal-style Class A buildings are about two thirds leased and include retail space on the first floor. One major tenant is the Environmental Protection Agency. The offices are part of Potomac Yard, an urban mixed-use center located on the site of a former railroad yard. Developer Crescent Resources of Charlotte, N.C., recently sold the office towers to a public investment group.

Pepsico Inc. manufacturing and distribution center
Wythe County: $140 million
The company that produces Gatorade has nearly finished a manufacturing and distribution facility in Progress Park. Production of the sports drink will begin soon with the plant expected to create more than 200 jobs. Developer: Pepsico Inc., Chicago.

John Paul Jones Arena
Charlottesville: $129.8 million
State’s largest indoor arena opened in July. From cherry wood lockers to luxurious vendor suites, the arena gives University of Virginia Cavalier basketball fans a spacious new home. With 16,000 seats, parking for 1,500 and state-of-the art equipment, arena can host large-scale events such as concerts and graduations. Developer: University of Virginia

Virginia Museum of Fine Arts expansion
Richmond: $122.6 million
A new 600-space parking deck opens in December. The expansion also will add a five-level glass and stone building, providing an additional 100,000 square feet of exhibit space and a sculpture garden. A public/private venture, the state has budgeted $49 million for the project. Developer: Virginia Museum of Fine Arts

Sentara Williamsburg
Regional Medical Center
Williamsburg: $96.4 million
New five-story, 339,000-square-foot medical center opened in August. It’s about 60 percent larger than community hospital it replaced. Includes design features for disaster readiness such as a decontamination unit and short-stay observation unit with its own air-handling system. Developer: Sentara Healthcare

Editor’s Note: Projects are ranked by dollar value. This year’s list concentrates on projects that have broken ground in the past year or were completed and opened recently (at least in their first phase). Also included are updates on large ongoing projects.