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 August 9, 2024:
Closer look: See new renderings of Diamond District Baseball stadium
Reported by Richmond Bizsense’s Jonathan Spiers
The new home of the Richmond Flying Squirrels is coming into fuller view via updated renderings recently submitted to the city.
Images provided to Richmond’s Urban Design Committee for initial review before they go to the Planning Commission provide a clearer picture of the new stadium that’s set to replace The Diamond and anchor the larger mixed-use Diamond District development.
The renderings by new stadium designer LaBella show the 10,000-seat ballpark with various amenities and seating options designed to provide the “360-degree experience” that Flying Squirrels execs have said they want to provide fans. The images update earlier renderings that were submitted to the city in March.
City’s former Diamond District manager now working on project in new role with Thalhimer
Reported by Richmond Bizsense’s Jonathan Spiers
The City of Richmond’s onetime manager for its ballpark-anchored Diamond District project is back in the game, but this time on a different team.
Maritza Pechin, who left City Hall last year for a job with the U.S. Department of Transportation, has joined Thalhimer Realty Partners as director of development with a sole initial focus on the Diamond District, the mixed-use portion of which TRP is developing with Chicago-based Loop Capital.
Pechin, who starts with TRP today, said she had no intention of leaving her federal gig when TRP principal Jason Guillot threw out the idea.
Motleys sells Richmond Auto Auction to national auction house
Reported by Richmond Bizsense’s Michael Schwartz
Mark Motley, who makes his living selling things for others, has just closed a sizable sale of his own.
The longtime local auctioneer and head of Motleys Asset Disposition Group announced this week the sale of the Richmond Auto Auction, which he started three decades ago.
The buyer was America’s Auto Auction, which is said to be the second-largest auto auction group in the U.S. The Indiana-based company plans to continue the Richmond auction and will continue to operate it from Motleys’ headquarters facility in South Richmond.
Terms of the deal were not disclosed. Motley continues to own and operate the other arms of his business, including an industrial auction, commercial and residential real estate brokerages, and a warehousing and logistics operation.
Henrico EDA buys local golf course, aims to make it long-term home for PGA tourney
Reported by Richmond Bizsense’s Michael Schwartz
Henrico County and local businessman Giff Breed are taking a big swing to make sure the region’s annual PGA golf tournament stays in town.
The Henrico County Economic Development Authority announced today its acquisition of The Crossings Golf Club for $3 million as part of a public-private partnership that’s ultimately aimed at transforming the course into the new long-term home of the PGA Tour Champions event that’s currently known as the Dominion Energy Charity Classic.
In conjunction with closing on the purchase this morning, the EDA has struck a deal to lease the 268-acre Crossings property to Breed’s Pros Inc., which also owns Independence Golf Course in Powhatan.
With the keys in hand, Breed’s firm is planning an $11 million overhaul and reinvention of The Crossings to bring it up to the caliber of being able to host a pro tournament, with the Tour Champions event as its main target.
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