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BizSense Beat: June 2, 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 June 2, 2023:

City Center contenders present competing visions for Coliseum-area redevelopment
Reported by Richmond Bizsense’s Jonathan Spiers

A clearer picture has emerged of the four development teams that are vying for Richmond’s City Center project – as well as their visions for the mixed-use redevelopment that would replace the Richmond Coliseum.

The city on Friday released one-pagers from each of the remaining contenders in the project’s solicitation process. The single-page summaries provide a glimpse of their respective plans for the project, as well as a full list of their team rosters.

Local bank the latest to try to collect debt from defunct contractor Fabling Built
Reported by Richmond Bizsense’s Mike Platania

The region’s largest local bank is joining over a dozen former clients and contractors in seeking to claw back money from defunct home renovator Fabling Built.

Atlantic Union Bank this month filed for a judgment against Fabling Built for $521,000, seeking to collect on the balance of two loans made to the company in recent years.

The loans were guaranteed by Fabling Built’s owners, married couple Casey and Adrienne Fabling. They started the company in 2016, offering home renovation and remodeling services until its abrupt closure in March.

Varina swimming hole Hadad’s Lake hits the market
Reported by Richmond Bizsense’s Mike Platania

After nearly 60 years in business, Varina’s only waterpark is up for grabs.

Hadad’s Lake and its surrounding acreage at 7900 Osborne Turnpike have been listed for sale for $975,000.

About 6 acres of the offering are occupied by Hadad’s Lake, a waterpark whose attractions include a natural-bottom swimming pool, fishing pond, volleyball courts, gazebos, water slides, a rope swing, multiple pavilions and more.

The remaining 30 acres listed include a house, driveway and parking area, but are largely wooded and undeveloped. The parcels are being marketed for sale together or separately.

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