Construction cranes are swinging in Virginia. There is activity across commercial real estate sectors and, with $1 billion in state funding expected this year for road projects, highway construction should see a bump as well.
Here’s a list of some of the major projects in Virginia’s metropolitan regions.
Northern Virginia
Tysons continues to see a boom after the expansion of Metro’s Silver Line. Three new high-rise buildings went up in 2016, and three more apartment projects are scheduled for completion this year.
One of the largest projects is the headquarters expansion for Capital One Financial Corp. When complete in 2018, the company’s 470-foot tower will be the tallest commercial building in the Washington, D.C., area. The expanded campus also will include a 100,000-square-foot corporate center for training events and a Wegmans grocery store. When everything is built out, the massive 5 million-square-foot campus is expected to have two hotels and as many as four additional office buildings.
Besides Tysons, Reston Town Center continues to grow. Boston Properties is building its final residential development at the popular mixed-use center. The Signature, a 1.2-million-square-foot dual tower, is expected to be ready next year. The $150 million project will include 508 units in a 21-story West Tower and a 19-story East Tower. Amenities include a rooftop pool and 24,000 square feet of ground-floor retail. Rounding out the project are two six-story, low-rise buildings, with one of them housing two-story apartments. The general contractor is HITT Contracting Inc.
In Vienna, the Navy Federal Credit Union is expanding its headquarters. The $88 million project includes a 244,000-square-foot office building and a parking garage with 1,184 spaces. Gilbane Building Co. is the general contractor. The credit union also plans to invest $100 million to double the size of its operations center in Frederick County.
Richmond/ Central Virginia
Richmond is seeing lots of grocery store openings and a slew of apartment projects in the city’s Manchester and Scott’s Addition areas. Plus, Richmond’s central business district has a new skyscraper under construction. Dominion Resources, a Fortune 500 company that already has its headquarters downtown, broke ground in December on a 20-story office tower. The 1-million-square-foot building is expected to be ready by late next year. It will house 5,000 square feet of retail on the ground floor and offices for more than 1,000 employees. Hourigan Construction Co. and its joint venture partner, Chicago-based Clayco, are heading up the design-build team.
Meanwhile California-based Stone Brewing Co. recently opened its 220,000-square-foot East Coast production facility in Richmond. Under the $100 million-plus project, which the city helped finance, Stone opened a store and tasting room last year. An $8 million riverfront restaurant and beer garden near the city’s Intermediate Terminal docks are expected to follow by 2018. There is also talk of a hotel to serve the site.
Hampton Roads
Downtown Norfolk has several major projects underway. March brings the opening of a new luxury hotel and convention center. The Main, a 21-story project with a 300-room Hilton hotel, is a $150 million dollar project that’s expected to draw more convention business to the port city. The general contractor is W.M. Jordan.
Two Commercial Place in downtown Norfolk is being renovated as the new home for ADP. The New Jersey-based human resources firm is investing $32 million to establish a regional customer service center. The 10-story, 285,000-square-foot building is being fitted with new glass and glazing, and its interior is undergoing major changes as well. Marathon Development Group owns the building, and Hourigan Construction is the general contractor.
Hospital expansions represent another active sector. Sentara Virginia Beach General Hospital began a $49 million modernization of its patient-care areas this month. Among improvements is the consolidation of three intensive-care units, the addition of a new surgery wing and the renovation of four operating rooms. The project is expected to take about 30 months and will create 75 to 100 construction jobs during peak activity. Whiting Turner is the general contractor.