Local developer part of group vying for medical cannabis license

Flour hemp in spoon with grain and oil on board

The Virginia Board of Pharmacy plans to establish medical cannabinol (CBD) oil dispensaries in each of the commonwealth’s five health service areas.

RICHMOND BIZSENSE, Aug. 21, 2018: Looking to take his business portfolio to new heights, a prominent local real estate developer is backing an effort to bring one of the state’s first medical cannabis dispensaries to Richmond.

Fountainhead Properties’ Tom Papa said he’s working with a group that’s vying for one of the five licenses the state’s Board of Pharmacy will grant allowing for medical cannabinol (CBD) oil dispensaries to be established in each of the commonwealth’s five health service areas.

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Nonprofit, developers weigh in on proposed homeless shelter move to Manchester

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Commonwealth Catholic Charities placed the former Community Bainbridge Baptist Church properties at 1101 and 1109 Bainbridge St. and 1100 Porter St. under contract. Photo by Richmond BizSense. 

RICHMOND BIZSENSE, Aug. 7, 2018: A local nonprofit’s plan to convert a Manchester church into a homeless shelter has been met with mixed reception from area residents, including some vocal dissent coming from developers who have a financial stake in the Southside neighborhood.

Commonwealth Catholic Charities (CCC) is under contract to purchase the former Community Bainbridge Baptist Church property at 1101 Bainbridge St., along with two adjoining parcels.

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Dominion files plans for second downtown tower

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Dominion’s 600 Canal Place is under construction. Photo by Richmond BizSense. 

RICHMOND BIZSENSE, July 10, 2018: With construction of its new office tower well underway, Richmond’s resident utility giant is beginning to cue up a potential sister structure next door.

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Urban Farmhouse owner reflects on recent speed bumbs

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Former Urban Farmhouse Market and Cafe near Virginia Commonwealth University. Photo by Richmond BizSense.

RICHMOND BIZSENSE, Dec. 16, 2016: After nearly six years of rapid expansion, a recent wave of store closings has Urban Farmhouse owner Kathleen Richardson pushing the reset button on her café’s strategy and looking for investors.

“Sometimes you have to look back and reevaluate everything,” said Richardson, who founded the local chain in 2010 in Shockoe Slip. “I think that’s something good for business…and it’s something I’m working on moving forward into the new year.”

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Libbie Mill lands Lumber Liquidators

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The former Southern Season space will be redeveloped into Lumber Liquidators’ new headquarters in Henrico County. Photo by Richmond BizSense. 

RICHMOND BIZSENSE, Aug. 1, 2018: Filling a hole left two years ago by the abrupt departure of its retail anchor, an emerging mixed-use project in Henrico has reeled in a major office tenant that will bring with it hundreds of employees.

Lumber Liquidators, the publicly traded national wood flooring retailer, is moving its corporate headquarters from Toano into the 53,000-square-foot former Southern Season building at 4901 Bakers Mill Lane in Gumenick Properties’ Libbie Mill-Midtown development.

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10-block stretch of Broad Street gathering steam

RICHMOND BIZSENSE, Nov. 28, 2016: Take a short walk along a certain downtown stretch of Broad Street and it becomes abundantly clear what is taking place: A new wave of change.

It’s marked at street level with a longtime barbershop, pawn shop and jeweler all closing down after decades on neighboring blocks of Broad – their buildings either already sold or looking for a suitor.

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Marquis bond infrastructure debt mounts as progress slows

DAILY PRESS, Aug. 26, 2015: The Marquis Shopping Center has a big empty space where a flagship tenant was and has piled on even more debt than what its former developers stumbled over, but York County is confident it is about to get a windfall of new revenue from the development.

The Marquis Shopping Center in upper York County. Photo by Daily Press

The Marquis Shopping Center in upper York County. Photo by Daily Press

So far, the sales and property taxes generated by the stores still open at The Marquis are covering the development’s required payments on its debt, which could reach $33.9 million if the developer uses all of the $5 million addition the Board of Supervisors authorized last month.

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Ferguson CEO: New acquisitions pending, more growth on horizon

DAILY PRESS, Aug. 11, 2015: If there’s one thing Ferguson is known for, it’s providing the tools necessary to build something big.

Ferguson Enterprises' showroom construction remains ongoing at its Newport News campus as the firm continues to grow. Photo by Daily Press

Ferguson Enterprises’ showroom construction remains ongoing at its Newport News campus as the firm continues to grow. Photo by Daily Press

And given the current state of the North American construction industry, the Newport News-based company is poised to expand its empire both locally and abroad.

“Our acquisition strategy fits within our overall growth strategy,” said Ferguson CEO Frank Roach. “We look at growth coming organically and same store sales, as well as new store openings and acquiring new companies.”

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Transportation Secretary Foxx: More federal money needed to address congestion

DAILY PRESS, July 22, 2015: U.S. Secretary of Transportation Anthony Foxx said Wednesday that a long-term federal strategy to fund large-scale transportation projects in the South is desperately needed.

The Port of Virginia hosted a ceremonial groundbreaking at Norfolk International Terminals on Wednesday. The event was attended by U.S. Secretary of Transportation Anthony Foxx and Gov. Terry McAuliffe. Photo by Daily Press

The Port of Virginia hosted a ceremonial groundbreaking at Norfolk International Terminals on Wednesday. The event was attended by U.S. Secretary of Transportation Anthony Foxx and Gov. Terry McAuliffe. Photo by Daily Press

“The reality is the South is growing, and it’s growing exponentially. This is not the South of our parents and grandparents,” Foxx, a former mayor of Charlotte, told an attentive audience of regional and state leaders. “If we don’t build for that future…we’re not going to make it.”

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Whole Foods opening pending as new tenants join Tech Center development

DAILY PRESS, Sept. 3, 2015: The signs are up, the parking lot is striped and yet the question still remains: When will the Newport News Whole Foods open?

Whole Foods remains mum on its Newport News opening, but that's not stopping more than a dozen new eateries and shops from opening in the Tech Center development. Photo by Daily Press

Whole Foods remains mum on its Newport News opening, but that’s not stopping more than a dozen new eateries and shops from opening in the Tech Center development. Photo by Daily Press

“We’ll have news on the Whole Foods Market Newport News store opening date soon,” said Katie Malloy, Whole Foods spokeswoman.

But despite the vague opening date, which has become a typical communications strategy for the organic food giant, company officials said Whole Foods is serious about opening its Newport News location.

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