Former Reynolds plant site in Richmond continues to draw interest
- April 15, 2013
Thalhimer Realty Partners has a 17-acre parcel under contract in Manchester and is exploring a possible mixed-use project at the former metal operations site.
Drew Wiltshire, vice president of Thalhimer Realty Partners, said the firm put the property under contract last week. Known as the Reynolds South plant, it closed in 2009. The site covers about seven city blocks and includes three large buildings.
“At this point, we are considering the viability of several uses,” Wiltshire said. “The existing structures lend themselves to historic renovation and rehabilitation to gain tax credits. We see a portion of the project as apartments. We would also explore office and other uses,” he said.
Wiltshire said the firm — the development arm of commercial real estate brokerage Cushman & Wakefield |Thalhimer — hasn’t had time to properly vet all the issues connected to the property, including environmental issues, the cleanliness of the site and the project’s financing.
The property is located across the river from the Reynolds North plant, which has been renovated into The Locks development, a mixed-use project of apartments and a restaurant.
Other developers have shown interest in the property before, but were not able to move forward. “In terms of the project itself, we think our association with Thalhimer and the platform it provides positions us well to do it,” said Wiltshire.