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BizSense Beat: Jan. 6, 2023

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BizSense Beat

BizSense Beat is a weekly collaboration between VPM News and Richmond BizSense that brings you the top business stories during Morning Edition on Fridays. 

Here’s a recap of the top stories for the week of Jan. 6, 2023:

City fast-tracking new zoning for Diamond District project
Reported by Richmond BizSense’s Jonathan Spiers

With the timeframe getting tighter to deliver a new ballpark for the Richmond Flying Squirrels by the start of the 2025 baseball season, city planners are fast-tracking a step in the process that would create a new zoning district specific to the stadium-anchored Diamond District project.

Sauer planning 780-home mixed-use development near VCC
Reported by Richmond BizSense’s Jonathan Spiers

The revitalization of Virginia Center Commons and other development activity in the vicinity is prompting a neighboring property owner to start a massive project that would add hundreds of homes near the former shopping mall.

Judge swiftly denies Hild’s last-ditch effort to avoid sentencing
Reported by Richmond BizSense’s Michael Schwartz

Richmond businessman Michael Hild’s last-ditch attempt to avoid prison time for his federal fraud conviction has been struck down. Judge Ronnie Abrams on Tuesday squashed Hild’s calls for Abrams to recuse herself from his case, a tactic that could have potentially helped Hild wriggle away from a looming sentencing date later this month.

Developer drops $7M for Manchester block, as another development faces holdouts
Reported by Richmond BizSense’s Mike Platania

The Beach Co. last month paid $7 million for the Thurston Spring Services site, an entire city block bound by Commerce Road and West Seventh, Perry and McDonough streets, where the South Carolina-based developer is planning a six-story, 263-unit apartment building. Meanwhile, a potential sale of TForce Freight’s local headquarters will have to work around homeowners in possession of a prime parcel at the site.

Wine investing service pours $5M capital raise into hiring
Reported by Richmond BizSense’s Jack Jacobs

Still in growth mode after its first two capital raises, a 3-year-old local startup that allows investors to buy shares of wine collections has filled its capital cup once again. Richmond-based Vint recently completed a $5 million investment round. The company plans to put the funding toward further expansion of its team, co-founder Nick King said in an interview this week.

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