Northrop Grumman commits $12.5M to Va. Tech Innovation Campus
Center of Quantum Architecture and Software Development to be funded
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Falls Church-based Fortune 500 aerospace and defense contractor Northrop Grumman Corp. has pledged $12.5 million to support research and teaching in quantum information science and engineering, becoming a partner of the Virginia Tech Innovation Campus in Alexandria. Virginia Tech officials announced the donation Wednesday morning. The $1 billion Virginia Tech Innovation Campus plans to invest
Va. Beach’s Pembroke Mall to add apartments, senior living and hotel
Redevelopment plans include high-rise buildings, across from Town Center
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Pembroke Mall in Virginia Beach is getting a $200 million makeover. The aging mall’s developers, Pembroke Square Associates, announced plans Monday for a series of updates to the 54-acre mall near the city’s Town Center area. “The mall industry is changing,” said Ramsay Smith, president of Pembroke Realty Group, asset manager for Pembroke Mall. “We
Fairfax-based Peterson Cos. opens self-storage division
New division is company's first in 35 years
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Fairfax-based real estate company The Peterson Cos. has formed a self-storage division, the company announced Monday. It is the company’s first new division in more than 35 years and Jim Mertz will run it, the company said in a news release. Mertz joined Peterson Cos. in 2015 to lead the development effort for Promenade at
Carilion Clinic names first VP for philanthropy
Ralph Alee will oversee foundation, $100M capital campaign
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Carilion Clinic has hired its first vice president for philanthropy in October, the Roanoke-based health system announced Monday. Ralph Alee provides strategic leadership for systemwide fundraising efforts, works with executive leadership in strategic planning for strengthening philanthropy, and will collaborate and help with Carilion’s $100 million capital campaign for a new cancer center, according to
Virginia Council of CEOs expands to Roanoke
First Roanoke roundtable peer group formed, second planned
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The Virginia Council of CEOs, a Richmond-based nonprofit serving small and midsize business owners, has expanded to Roanoke, it announced last week. The organization has launched its first CEO peer roundtable in the Roanoke market and expects to form a second group shortly. About a year ago, the council announced plans to expand statewide. More
Norfolk townhome community sells for $77M
Crown Point Townhomes has 480 units
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Crown Point Townhomes, a 480-unit apartment community in Norfolk, has sold for $77 million, Berkadia announced Monday. Bush Cos. sold the property, at 5371 Wyngate Drive, to a New Jersey-based buyer. The garden-style, multifamily property has two-, three- and four-bedroom floor plans and is located near Military Circle Mall. David Hudgins of Berkadia Newport News
New luxury apartments coming to downtown Norfolk
$56.2M high-rise building to have 273 units
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With $56.2 million in financing in place, Marathon Development Group’s Frank “Buddy” Gadams is ready to start work on “Gravity 400 Apartments,” in downtown Norfolk, Berkadia Commercial Mortgage LLC and Breeden Construction announced. Located at 400 Waterside Drive, the 273-unit high-rise apartment tower will be have studio, one-, two-, and three-bedroom floor plans, in a
Stephen Moret to leave VEDP
VEDP president and CEO to lead Strada Education Network
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Virginia Economic Development Partnership President and CEO Stephen Moret will leave VEDP to become president and CEO of Indianapolis-based Strada Education Network in January, Strada and VEDP announced Wednesday. Moret expects that VEDP’s board will appoint Executive Vice President Jason El Koubi to serve as interim CEO and a nationwide search will be conducted for
Bon Secours acquires Richmond-based Tuckahoe Orthopaedics
Practice has been in business 40 years
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Bon Secours has acquired Richmond-based Tuckahoe Orthopaedics and will operate the three-location medical practice as part of Bon Secours Medical Group, the health system announced Tuesday. Financial terms were not disclosed. The private practice has been in business for more than 40 years and has been affiliated with Bon Secours for many years. Tuckahoe Orthopaedics
Inova to expand post-acute care at Mount Vernon hospital
Expected opening is late 2022
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Inova Health System is adding a Critical Illness Recovery Hospital (CIRH), also known as a long-term acute care facility, at Inova Mount Vernon Hospital in Alexandria. The service is for patients who require an extended stay with specialized clinical attention and support but no longer need the intensive care provided in an acute care hospital.