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BizSense Beat: April 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 April 27, 2023:

Final terms reached for Diamond District, but extra innings needed for new stadium
Reported by Richmond Bizsense’s Jonathan Spiers

The City of Richmond has reached final terms with developer RVA Diamond Partners for their $2.4 billion Diamond District project – though not in time, officials said, for its centerpiece baseball stadium to be built before a 2025 deadline.

The definitive agreements were introduced at Monday’s City Council meeting, seven months after the parties entered into negotiations after reaching a preliminary agreement last fall.

Parking regs repeal clears city council
Reported by Richmond Bizsense’s Jonathan Spiers

In a step away from decades of auto-centric public policy, the Richmond City Council followed the lead of other metros across the country in doing away with parking requirements in favor of a more permissive, market-driven approach to providing parking in the city.

At their meeting Monday, councilmembers unanimously repealed zoning rules that required minimum numbers of parking spaces for new buildings and businesses, with the goal of reducing the amount of land used only for surface parking and opening up areas to more pedestrian-focused, urban-oriented development.

New downtown Chick-fil-A opens today in James Center
Reported by Richmond Bizsense’s Mike Platania

Chick-fil-A has cut the ribbon on a new location in the city, while also plotting further expansion in the counties.

The fast-food chain opened for business Tuesday at its new Three James Center location at 1051 E. Cary St. downtown. The chicken sandwich-focused franchise has taken over the former Arby’s space.

It’s the third location for Chick-fil-A in the city, joining spots on VCU’s Monroe Park and medical school campuses.

Dominion to demolish part of Fan complex ahead of planned sale to developers
Reported by Richmond Bizsense’s Mike Platania

Part of a sizable Fan property is being prepped for demolition ahead of an expected sale to a development group later this year.

Dominion Energy plans to raze a 15,000-square-foot auxiliary building at 2501 Grayland Ave., which is part of the nearly 5-acre assemblage of land that the company is under contract to sell for a future redevelopment.

The company filed for a demolition permit with the city in recent days. A Dominion spokesman confirmed the building will soon be demolished and that the sale of the real estate to an undisclosed buyer is scheduled to close in the third quarter of this year.
Greenswell Growers gathers more green with $7M capital raise
Reported by Richmond Bizsense’s Jack Jacobs

With a fresh round of funding in hand, Greenswell Growers is a step closer to sprouting additional production capabilities to fuel its expanding grocery store presence.

The Goochland-based indoor farming company reported last week it has raised $6.9 million in a capital round from investors.

A portion of the funding is earmarked for expansion of its 77,000-square-foot indoor growing facility and headquarters at 1343 Hockett Road in the West Creek Business Park, where it grows leafy green vegetables.

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