Here’s a recap of the top business stories for the week of March 28, 2025:
Richmond International Airport is set to increase its parking fees to help fund some new developments.
Reported by BizSense’s Mike Platania
The Capital Region Airport Commission recently voted to increase the daily parking rates and rental car fees at Richmond International Airport.
Starting July 1, daily parking at the garages closest to the RIC terminal will increase from $12 to $15, and daily rates at the economy lots west of Airport Drive will go from $7 to $10. The airport’s Customer Facility Charge (CFC), the fee imposed on rental car companies at the airport, is also set to increase from $2 per day per rental vehicle to $8.25.
The increased prices are aimed to help finance developments on airport grounds, namely a 5,500-spot parking deck for the general public and an additional two-story deck for rental cars.
The changes were outlined in a committee meeting earlier this month.
Local contractor sues a New York-based developer, just as its new hotel in the Fan nears completion.
Reported by BizSense’s Mike Platania
New York City-based Ash Hotels is in the midst of converting The Shenandoah building, located on North Allen Avenue in The Fan, into the 70-room Shenandoah Mansions hotel.
The company initially hired local contractors CK Bosworth Construction to complete the project. Bosworth now claims Ash owes it over $2.2 million for work it performed on the building.
The contractor argues that its deal with the developer was “improperly terminated” late last year. An Ash spokesperson claims the contract was terminated due to "nonperformance issues.”
Online booking is available now for stays beginning in June.
One aging, blighted warehouse building in the Museum District is finally being demolished.
Reported by BizSense’s Mike Platania
The former Gusti Restaurant Equipment and Supply warehouse on West Broad Street is coming down, six years after the Gusti family relocated its business to Henrico County.
The 2-acre plot was sold to local developer Steve Leibovic in 2019 for over $5 million. Leibovic has been planning to redevelop the site for some time.
Leibovic said he intends to build a mixed-use project on the site and is still working on concrete plans. But global tariffs, which impact the price of building materials, could delay the project even further.
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