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Hourigan Announces New Mass Timber Riverfront Development in South Richmond

09.16.22 | Category: News

NEWS RELEASE- September 16, 2022


Rendering of office space and residential tower

Richmond, VA (September 20, 2022) – Hourigan, a fully integrated construction and development firm, announced today their plans to convert the city’s last riverfront parcel into a premier mixed-use property that provides opportunities to live, work, and experience a dynamic urban environment.

Situated on Hull Street in the Manchester district, the new development will feature a 130,000 SF office building, 11,000 SF for ground-floor retail, plus a 20-story luxury residential tower. The office building will focus on spaces that inspire collaboration and healthy cultures. Experiential retailers, who create memorable interactions throughout the customer journey, will add a keen
vibrancy to the area’s amenity base. Additionally, the high-rise will offer upscale living with unparalleled and unobstructed views of the James River and downtown Richmond. Residents will have access to other lifestyle components including a rooftop pool, co-working spaces, and an outdoor terrace.

“At a time when companies are re-evaluating their workspace, we’re seeing an increased demand to create “differentiated” office environments that are inspirational to employees and have sustainability at the core. We’re excited to bring those elements together in a next generation facility that benefits both occupants and the surrounding community,” said Mark Hourigan, CEO of Hourigan.

Environmental stewardship will play an important part throughout the development. Plans for the office building include use of eco-concrete and cross-laminated timber (CLT), a structural material that provides strength, versatility, and a positive environmental impact by storing CO2 and enhancing indoor air quality. Additionally, the use of wood in office environments has been shown to add a sense of well-being for employees.

The project represents Hourigan’s second significant investment south of the river and a continuation of their vision to build stronger communities that enhance the region. This development will add 300-400 jobs during construction and attract 300-500 new jobs to the area once complete. Potential tenants have already expressed interest in the commercial spaces.

“Mixed-use developments encourage economic growth and vitality in communities, and Hourigan’s newest project will positively impact the City of Richmond and the entire region,” said Jason El Koubi, President and CEO of the Virginia Economic Development Partnership (VEDP).

“An innovative approach to a development like this will help us attract corporate executives with a sustainability mindset,” said Jennifer Wakefield, President and CEO of the Greater Richmond Partnership. “Both corporate end users and talent alike are seeking these types of amenities.”

In addition to Hourigan, project partners include Riverbend Development, Kahler Slater, Timmons, and Jones Lang LaSalle. Demolition at the site will begin later this year with construction slated to begin in the second quarter of 2023.

“This project is an investment in the future of Richmond. Along with our partners at Hourigan, we are pleased to be a part of growing the city by creating great spaces for the community,” notes Al Krueger, AIA, Chief Executive Officer, Kahler Slater.

The targeted completion date is mid-2025.

For more information:
Joseph Marchetti, III
Hourigan Development — President
804-467-1524

 

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