Advertisement

Header Utility Menu

  • Subscribe
  • Renew
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • Women in Leadership
    • Legal Elite
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2023 Black Business Leaders
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
    • Order Women In Leadership Plaques
  • Virginia 500
    • Read The Issue
    • Buy an award plaque
    • Suggest execs for 2024

Advertisement

Header Primary Menu

  • Issues
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • Women in Leadership
    • Legal Elite
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2023 Black Business Leaders
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
    • Order Women In Leadership Plaques
  • Virginia 500
    • Read The Issue
    • Buy an award plaque
    • Suggest execs for 2024

Home News Contractors hammering away on new projects

Contractors hammering away on new projects

Published February 28, 2014 by Paula C. Squires

McLean Station

In many parts of Virginia, construction is picking up. While activity remains below prerecession levels, projects are going up in all of the state’s major markets.

General contractors are getting work across multiple sectors, but they still report challenges, namely finding enough skilled workers and paying for rising health-care costs.

Still, the mood is more optimistic than it has been in years. The multifamily sector has been particularly hot with new apartments under construction in downtown and suburban Richmond, downtown Roanoke and in Northern Virginia around the expanding Silver Line Metro. Young professionals are fueling the trend as they opt to live near their workplace or public transportation routes that can take them to their jobs. 

Another busy sector is health care. Several hospitals are financing expansions, and medical centers and emergency rooms are popping up as co-anchors in mixed-use projects. One example in Henrico/Goochland County is The Notch at West Creek, a 230-acre mixed-use project. The Lingerfelt Cos. broke ground on the first of three 60,000-square-foot medical office buildings, and a large apartment community is under construction as well.

Builders also are finding opportunities in higher education and hotels. Blackburg’s Virginia Tech recently completed a 147,000-square-foot performing arts center. In Richmond, the five-diamond Jefferson Hotel is upgrading guest rooms, while Virginia Beach has joined forces with developer Bruce Thompson on a $260 million renovation of the iconic Cavalier Hotel and its sister hotel.

On the office side, the market has been sluggish, with one exception: Tysons Corner.  The state’s largest business and retail center is transforming into a more urban community as it readies for expansion of the Silver Line Metro. Four new stations are scheduled to open this year, which has sparked more than 45 million square feet in new development, which will nearly double the size of Tysons. 

According to research from Cushman & Wakefield, nearly 4 million square feet already is under construction. Several of those projects are office towers. This pipeline of new construction has been a welcome development in the face of cutbacks in leasing and construction from the federal government, which typically gives Northern Virginia a boost. 

In the public sector, the construction industry expects new work in transportation. A funding bill passed last year is expected to pump more than $4 billion into Virginia’s transportation plan over the next six years.

Construction and Development charts:

 

Related Stories

No related posts.

Trending

Raleigh-to-Richmond rail project receives $1B federal grant

Sentara takes sole ownership of Velocity Urgent Care

A British invasion at Norfolk’s Chrysler Museum

$729M federal transportation package will finish Long Bridge expansion

CFBP fines Atlantic Union Bank for overdraft program

Sponsored Stories

Precision Walls, Inc. Acquires SPS Corporation to Expand Service Offerings

Friendly and frictionless: 6 customer experience trends

Part 2: 2024; logistics nightmare or a re-awakening?

Advertisement

Advertisement

Trending

Raleigh-to-Richmond rail project receives $1B federal grant

Sentara takes sole ownership of Velocity Urgent Care

A British invasion at Norfolk’s Chrysler Museum

$729M federal transportation package will finish Long Bridge expansion

CFBP fines Atlantic Union Bank for overdraft program

Sponsored Stories

Precision Walls, Inc. Acquires SPS Corporation to Expand Service Offerings

Friendly and frictionless: 6 customer experience trends

Part 2: 2024; logistics nightmare or a re-awakening?

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Renew
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk