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BizSense Beat: Jan. 27, 2023

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BizSense Beat is a weekly collaboration between VPM News and Richmond BizSense that brings you the top business stories during NPR's Morning Edition on Fridays.

Here’s a recap of the top stories for the week of Jan. 27, 2023:

Henrico approves scaled down Arcadia project in Varina
Reported by Richmond Bizsense’s Jonathan Spiers

After a two-hour hearing and as many hours of discussion, Henrico supervisors signed off late Tuesday evening on a massive residential development in Varina that drew considerable opposition from some area residents, despite an eleventh-hour reduction in the project’s size.

Henrico forms financing authority for arena-anchored GreenCity
Reported by Richmond Bizsense’s Jonathan Spiers

Another step toward development of the massive GreenCity project was taken this week in Henrico, as county supervisors established a community development authority to help finance initial work for the mixed-use project that’s set to include a new arena for the region. At their regular meeting Tuesday, supervisors adopted a resolution creating the CDA and appointing its initial five-member board.

Brewery self-distribution bill gains momentum in General Assembly
Reported by Richmond Bizsense’s Mike Platania

Virginia breweries’ dream of selling their ales directly to vendors took a step forward this week. On Tuesday a Virginia House of Delegates subcommittee voted unanimously to approve a bill that would establish a legal framework through which breweries could sell their beer to retailers without using a distributor.

McHugh’s Restorations set to shutter after more than 40 years in business
Reported by Richmond Bizsense’s Jack Jacobs

After decades of repairing everything from ceramic dolls to fine china collections, McHugh’s Restorations in Richmond is closing. The business plans to shutter its studio at 5708 Patterson Ave. next Tuesday, ending a more than 40-year run for the porcelain restoration and estate sales company. Co-owner Kimberley Overman, who started working at the family business when she was 17, said it has become too physically challenging for her to continue the restoration handiwork.

Va. Beach’s Sibony family adds to oceanfront holdings with $12M deal
Reported by Richmond Bizsense’s Filip De Mott

A new owner is at the helm of a long-standing Oceanfront hotel, adding to a growing collection of Atlantic Avenue properties in their possession. The Sibony family, known for their Sunsations chain of tourist shops both in and outside of Virginia Beach, purchased The Breakers Resort Inn last month.

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