Bank of America buying site at White Oak Technology Park
By Tom Lappas, Citizen Editor 03/02/11
(Henrico Citizen Exclusive) – A major employer is planning to expand its presence in Henrico County in a major way.
Bank of America has reached agreement to purchase 65 acres in Eastern Henrico’s White Oak Technology Park for $910,000, the Citizen has learned. The company intends to locate a financial services processing center at the Sandston site, which sits across Technology Boulevard from QTS (the former Qimonda semiconductor plant) and just west of a Hewlett Packard facility.
Initially, Bank of America plans to build a two-story, 400,000-square foot building on the site to house about 50 employees. Its master plan calls for another building of the same size and an eventual total of 106 employees on site, working 24 hours a day in three shifts, according to a plan of development (POD) it filed with Henrico County last month. Bank of America officials did not return calls seeking comment by press time and have not yet publicly discussed their plans.
The jobs that locate at the new facility are expected to be new jobs, Henrico Economic Development Authority Executive Director Gary McLaren told the Citizen, adding that Bank of America likely would announce more detailed plans about the facility in the coming weeks.
The development would be another boost for the county and the White Oak park, which saw Qimonda, its chief tenant, vacate its 1.3-million square-foot semiconductor plant in 2009 as the result of a difficult economy – costing about 2,500 employees their jobs. But last year, the U.S. Postal Service moved its Richmond Processing and Distribution Center to a new 715,000-square-foot facility in the park, bringing jobs with it from Richmond.
And last April, QTS purchased the former Qimonda plant – which was assessed in 2008 at $155.5 million – for $12 million. QTS is turning the facility into one of the world’s largest data centers. It recently won its first federal job for the site, McLaren said, and the company has partially occupied the facility for several months.
“The data centers aren’t huge employers, just significant capital investments,” McLaren said.
Greater Richmond Partnership Chairman Greg Wingfield said the news of Bank of America’s plans represented another step in White Oak’s post-Qimonda future.
“It starts to reinvent itself, rebrand itself,” Wingfield said of the park, “particularly for companies looking for alternative, secondary sites. For us, any kind of huge job creation through a new facility obviously is a very positive step for the region. As we watch the unemployment rate continue to go down, this will help.”
Henrico County and its Economic Development Authority purchased the 2,272 acres that comprise the White Oak Technology Park from the state in 1996. The site, formerly known as the Elko Tract, previously was the site of a decoy “airport” built to confuse potential German bombers who might have planned to attack the Richmond Army Air Base at the Richmond airport three miles away.
As part of the 1996 agreement, the state must consent to the sale of portions of the property within the park (including the Bank of America site) before a sale is finalized. The state, not the county, receives payment for any land sold. Henrico, however, realizes the benefit of new tax revenues from new tenants, McLaren said.
The property sale was approved by a 9-0 vote of the Henrico EDA’s board of directors at its Jan. 13 meeting. Final state approval is forthcoming.
The arrival of Bank of America to Eastern Henrico is encouraging, Porter Realty Executive Vice President Cliff Porter said.
“It’s a good sign for the region,” he said. “That’s a nice park, and you’ve got all that infrastructure, so that’s probably what they were looking for.”
Porter theorized that the relatively low sale price – $14,000 per acre – may have provided extra incentive for Bank of America to buy in White Oak. The price also may have reflected that certain portions of the land were undevelopable, he said.
“I could find you more expensive land,” Porter said.
Porter’s own company recently finalized a lease with Meadwestvaco, which this spring is moving one of its facilities from Charlotte to 48,000 square feet of space at the Airport Distribution Center at Darbytown Road and Laburnum Avenue. Though large-scale tenants in Eastern Henrico and the airport region traditionally have occupied industrial and warehouse space, the Bank of America facility could signal the value of the region for more traditional office developments, Porter said.
Bank of America’s POD request is scheduled to be heard by the county’s Planning Commission at its March 23 meeting. In a report, county planners wrote that they would recommend approval of the POD once several minor site plan issues are resolved.
Bank of America has a significant presence in northern Henrico; its operations center on Villa Park Drive is believed to employ more than 600 people. In 2009, the company announced that it would begin a $150-million expansion on that property and create more than 100 new jobs there.
In all, the company employs nearly 3,000 people in the Richmond region.
By Amelia Heymann, Capital News Service 03/24/2017 Features
MAR. 23, 12 P.M. – Hello Kitty fans, rejoice. On Saturday, the Hello Kitty Cafe Truck, described as “a mobile vehicle of cuteness,” will make its first visit to the region.
The truck will be at Short Pump Town Center, 11800 W. Broad St., from 10 a.m. until 8 p.m. The vehicle will be near the mall’s main entrance by Crate & Barrel and Pottery Barn.
The Hello Kitty Cafe Truck has been traveling nationwide since its debut at the 2014 Hello Kitty Con, a convention for fans of the iconic character produced by the Japanese company Sanrio. > Read more.
Gov. Terry McAuliffe on Thursday vetoed several bills that Republicans say would have increased school choice but McAuliffe said would have undermined public schools.
Two bills, House Bill 1400 and Senate Bill 1240, would have established the Board of Virginia Virtual School as an agency in the executive branch of state government to oversee online education in kindergarten through high school. Currently, online courses fall under the Virginia Board of Education. > Read more.
Citizen Staff Reports 03/23/2017 Education
Individuals and organizations wanting to help George F. Baker Elementary School students and staff recover from a March 19 fire at the school now have two ways to help: make a monetary donation or donate items of school supplies.
The weekend fire caused significant smoke-and-water damage to classroom supplies and student materials at the school at 6651 Willson Road in Eastern Henrico.
For tax-deductible monetary donations, the Henrico Education Foundation has created the Baker Elementary School Emergency School Supply Fund. > Read more.
Citizen Staff Reports 03/23/2017 Business
ChamberRVA is seeking nominees for the annual IMPACT Award, which honors the ways in which businesses are making an impact in the RVA Region economy and community and on their employees.
Nominees must be a for-profit, privately-held business located within ChamberRVA's regional footprint: the counties of Charles City, Chesterfield, Goochland, Hanover, Henrico, New Kent and Powhatan; the City of Richmond; and the Town of Ashland. > Read more.
Cushman & Wakefield | Thalhimer announces the sale of the former Friendly’s restaurant property located at 5220 Brook Road in Henrico County. Brook Road V, LLC purchased the 3,521-square-foot former restaurant property situated on 0.92 acres from O Ice, LLC for $775,000 as an investment. Bruce Bigger of Cushman & Wakefield | Thalhimer handled the sale negotiations on behalf of the seller. > Read more.
St. Joseph's Villa’s Flagler Housing & Homeless Services was one of three entities to earn the National Alliance to End Homelessness' Champion of Change Award. The awards were presented Nov. 17 during a ceremony at the Newseum in Washington, D.C.
NAEH annually recognizes proven programs and significant achievements in ending child and family homelessness.
Flagler completed its transition from an on-campus shelter to the community-based model of rapid rehousing in 2013, and it was one of the nation's first rapid re-housing service providers to be certified by NAEH. > Read more.
Richmond International Raceway's 13th annual Community Christmas tree lighting has been rescheduled from Dec. 6 to Monday, Dec. 12, at 6:30 p.m., due to inclement weather expected on the original date.
Entertainment Dec. 12 will be provided by the Laburnum Elementary School choir and the Henrico High School Mighty Marching Warriors band. Tree decorations crafted by students from Laburnum Elementary School and L. Douglas Wilder Middle School will be on display. Hot chocolate and cookies will be supplied by the Henrico High School football boosters. > Read more.
CAT Theatre and When There’s A Will director Ann Davis recently announced the cast for the dark comedy which will be performed May 26 through June 3.
The play centers around a family gathering commanded by the matriarch, Dolores, to address their unhappiness with Grandmother’s hold on the clan’s inheritance and her unreasonable demands on her family.
Pat Walker will play the part of Dolores Whitmore, with Graham and Florine Whitmore played by Brent Deekens and Brandy Samberg, respectively. > Read more.
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CalendarVanessa Carlton, with special guest Tristen, will perform at 7 p.m. at The Tin Pan, 8982 Quioccasin Rd. Doors open at 5 p.m. Tickets are $35 in advance and $40 at the door. For details, call 447-8189 or visit http://www.tinpanrva.com. Full text