VPM Daily Newscast: May 25, 2023
The VPM Daily Newscast contains all your Central Virginia news in just 5 to 10 minutes. Episodes are recorded the night before.
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Here’s a recap of the top stories on the morning of May 25, 2023:
City council approves bond sale for Southside apartment complex rehab
Reported by VPM News’ Connor Scribner
Chippenham Place Apartments is a 144-unit complex just east of where Hull Street Road intersects the Chippenham Parkway. It’s currently owned by Chippenham Place Associates LP.
City Council aims to facilitate the building’s sale to a private, multistate affordable housing developer, California-based Lincoln Avenue Capital, through the limited partnership Chippenham Place LP.
On Monday, Council voted to approve the Richmond Redevelopment and Housing Authority’s plan to sell $25 million worth of tax-exempt bonds for Chippenham Place LP to purchase and renovate the complex. The bonds would be repaid by Chippenham Place using revenue from the complex. Neither the city nor RRHA would be responsible for paying the loans if Chippenham Place fails to do so.
Hidden vault inside Hampton coffee shop captivates the imagination — and the internet
Reported by The Associated Press
Chesapeake resident David Spring and Virginia Beach resident John Napier hope to open Buckroe Coffee Co. at 1936 E. Pembroke Ave. this summer. But their renovations took a detour when they discovered a mysterious vault as they tore down drywall inside the roughly 2,400-square-foot building.
Napier said he knew the building had previously served as a bank through the 1990s but had no idea the vault was left behind. Excited by what they found, Spring started recording their discoveries and uploading the videos to Instagram and Facebook.
In other news:
- VCU adds BookHolders building to its real estate collection with $3M deal (Richmond BizSense)
- Virginia has just 40 pay phones left (Axios Richmond)
- Myrna Morrissey alleges assault, manipulation by Sen. Morrissey in divorce filing (Richmond Times-Dispatch)
In case you missed it:
- Richmond to tax Airbnbs after updating century-old city code (Richmond Times-Dispatch)