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Youngkin sworn in as Virginia’s 74th governor
Republican promotes unity, agenda at inauguration
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RICHMOND, Va. — Republican Glenn Youngkin was sworn in Saturday as Virginia’s 74th governor on the steps of the state Capitol. The political newcomer and former private equity executive is the commonwealth’s first Republican governor since Bob McDonnell, who took office in 2010. The commonwealth also made history in electing Republicans Winsome Sears as lieutenant
Park West End apartments sell for $59M
McCann Realty Partners LLC acquires 312-home community
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Henrico County-based property development company McCann Realty Partners LLC acquired a 312-unit apartment community in its own backyard for $59.25 million on Dec. 27, according to Henrico County property records. Built in 1985, the 224,768-square-foot apartment community sits on 18 acres at 5300 Glenside Drive. The buildings have one- and two-bedroom floor plans, and amenities
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State awards $7M in grants to help with site readiness
11 commercial sites across state receive VEDP funding
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Eleven commercial projects across the commonwealth will get a boost to help with site readiness, Gov. Ralph Northam announced Thursday. The Virginia Business Ready Site program, administered by the Virginia Economic Development Partnership, awarded $7 million in development grants. Having project-ready sites available has been a priority for VEDP, and Northam asked for $150 million
NoVa’s 2021 home sales surpassed 2020 total
Nearly 27k homes sold last year, highest number since 2005
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In Northern Virginia, nearly 27,000 homes were sold in 2021, an increase of 17% over 2020’s total and the highest number of sales since 2005, the Northern Virginia Association of Realtors reported this week. “For the year, the NVAR footprint total sales volume was up by more than 23%, reaching almost $19 billion. This is
Hampton Roads home sales steady at end of 2021
Active listings down compared to December 2020
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The number of listings in the Hampton Roads real estate market dropped significantly, sales increased, and inventory dropped to a new low in December 2021, Real Estate Information Network Inc. reported. Last month, there were 2,821 active listings, down 26% year-over-year when compared to active listings in December 2020. But the number of properties that
Roaring ’20s repeat possible, Richmond Fed president says
Barkin predicts goods inflation will ease as supply issues lessen
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Federal Reserve Bank of Richmond President and CEO Thomas Barkin said he could visualize another round of the “roaring ’20s,” he said Thursday during the Virginia Bankers Association/Virginia Chamber 2022 Financial Forecast event. Driven by investment and real estate appreciation, the nation has seen a 28% boost in household net worth over the past two
Va. new unemployment claims up 35%
Continued claims down almost 3,400
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Virginia’s new unemployment claims increased by 34.9% last week, the Virginia Employment Commission reported Thursday. For the filing week ending Jan. 8, Virginians filed 2,446 initial claims, an increase of 633 from the week before. Continued claims totaled 7,895, down 3,367 from the previous week. Compared to last year, increased claims were almost 92% lower
Recycling joint venture to create 210 jobs in Chesapeake
Kamine Development Corp. and Nicollet Industries LLC will invest $276M
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Two sustainable development companies — New Jersey-based Kamine Development Corp. and Minnesota-based Nicollet Industries LLC — will invest $267 million to establish a joint venture paperboard recycling and production facility in Chesapeake, a project expected to create 210 jobs, Gov. Ralph Northam announced Tuesday. The 335,000-square-foot Celadon Development Corp. facility will be at the Chesapeake
NoVa Chamber and U.Va.’s Sorensen Institute partner to promote civics
Advancing Civics partnership aims to encourage collaborative leadership
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The Northern Virginia Chamber of Commerce and the Sorensen Institute for Political Leadership at the University of Virginia’s Weldon Cooper Center for Public Service announced Tuesday their Advancing Civics partnership to encourage collaboration among business and government leaders. The Northern Virginia Chamber wants to promote civic-minded leadership, said Clayton Medford, vice president of government relations
Fifth District economy has moderate growth, Fed says
Shortages in labor and supply continue to hamper growth
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The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) saw modest growth but was constrained by supply issues and labor shortages, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information gathered
