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 February 2, 2024:
GRTC’s shortlist for new transfer station includes Public Safety Building site
Reported by Richmond Bizsense’s Jack Jacobs
GRTC is looking at five sites across the city for the home of its future bus transfer station, which would incorporate a larger mixed-use development and be the permanent successor to the temporary facility it opened last year.
Among the sites under consideration are several prominent downtown properties, including the city-owned Public Safety Building property at 500 N. 10th St., a parking lot at 401 E. Cary St. owned by Riverstone Properties and a Dominion Energy-owned parcel at 701 E. Cary St., which was formerly where the utility company’s One James River Plaza office tower stood until it was imploded in 2020.
While GRTC spokesman Henry Bendon said details are scant, the overall transfer station development could take the form of one or two buildings. The plan is that the 10-bay bus transit hub would occupy the ground level of a building in the development, which would have some combination of residential and commercial uses.
Ousted co-founder sues Virginia Rep, alleging age discrimination
Reported by Richmond Bizsense’s Jack Jacobs
A legal drama is beginning to unfold between Virginia Repertory Theatre and one of its co-founders.
Phil Whiteway recently filed a lawsuit against Virginia Rep alleging he was forced out of the organization due to his age. When he was fired from Virginia Rep in August 2023, Whiteway was 71 years old.
The former managing director is seeking reinstatement with the organization in addition to lost pay and other compensation for the age discrimination that he says he experienced and retaliatory actions he argues were taken against him for his refusal to retire voluntarily.
The federal Age Discrimination in Employment Act, which the suit alleges Virginia Rep violated in its demands that Whiteway exit, prohibits forced retirement, but does allow some limited exemptions that the filing states weren’t cited by Virginia Rep.
Whiteway’s complaint claims Virginia Rep leaders pressured him to retire for several years before he was finally fired.
Downtown office building headed for auction after buyer ‘missed the market’
Reported by Richmond Bizsense’s Mike Platania
The pandemic’s effect on office space is leading one downtown Richmond office building to a date with the auction block.
The Branch Building at 1015 E. Main St. is set to be put up for auction next month by North Carolina-based firm Hem + Spire, which bought the six-story building for nearly $1.5 million in January 2020.
The auction’s starting bid is $450,000.
Upon buying the buildings, Hem + Spire set out to modernize the circa-1866 structure for its tenants, which at the time included a law firm and a nonprofit.
But the firm quickly faced an uphill battle when COVID-19 arrived just two months after it closed on the purchase. The building is now just 50 percent occupied.
Yellow Umbrella expanding to Libbie Mill with takeover of Stables Market
Reported by Richmond Bizsense’s Mike Platania
Libbie Mill’s original neighborhood market has closed, though its space won’t sit vacant for long.
The Stables Market at 5001 Libbie Mill East Blvd. shut down on Jan. 28, as it makes way for a new offshoot of Yellow Umbrella Provisions.
Brothers Thomas and Tucker Brown, who bought Yellow Umbrella and its longtime location along the Libbie-Patterson corridor in 2020, confirmed that they’re taking over the Libbie Mill space.
The deal involves Yellow Umbrella acquiring the assets of Stables in a deal that’s scheduled to close this week.
You can have these and other local business stories sent right to your inbox. Sign up for the Richmond BizSense newsletter!
