Henrico County VA

Bank of America buying site at White Oak Technology Park

Company plans to construct two buildings, add 106 jobs
The future site of a Bank of America complex in Sandston.

(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.

Contact Tom Lappas at .(JavaScript must be enabled to view this email address).
Bail Bondsman Henrico VA Richmond VA
Community

Henricus to portray ‘Arnold’s Raid on Richmond’ Jan. 31


The Henricus Historical Park in Chesterfield this weekend will portray "Arnold's Raid on Richmond," which took place in 1781 when British General Benedict Arnold took his small British and Loyalist forces and raided Richmond as Governor Thomas Jefferson watched from the safety of Manchester.

The event will take place Jan. 31 from 9 a.m. to 3 p.m. Period-dressed historical interpreters will occupy the bluff overlooking the James River.

Visitors are invited to join the American militia, British regulars, Hessians and Loyalists in camp. > Read more.

‘Secret Keeper Girl - Crazy Hair Tour’ returning to West End Assembly of God

Hundreds of 'tweens' and their moms will attend the Secret Keeper Girl Crazy Hair Tour at West End Assembly of God on Jan. 22 at 6:30 p.m., a popular Bible-based tour geared toward building and strengthening relationships between mothers and their daughters (typically ages 8 to 12).

The event will feature a full fashion show, oversized balloon sculptures and confetti cannons – all in the name of inner beauty, Biblical modesty and vibrant purity. > Read more.

OutRVA, ‘Say I Do!’ to give away all-expenses paid wedding at Lewis Ginter

OutRVA and Say I Do! have collaborated to offer LGBT couples an opportunity to win an all-expenses-paid wedding at Lewis Ginter Botanical Garden’s Robins Tea House on March 7.

In September, Richmond Region Tourism launched OutRVA, a campaign designed to show people Richmond’s strong LGBT community and highlight the area as a travel destination.

The winning couple will say "I do" in a ceremony coordinated by event designer and floral artist Casey Godlove of Strawberry Fields Flowers & Gifts and marriage concierge, Ayana Obika of All About The Journey. The couple will receive wardrobe and styling, a custom wedding cake, florals, an overnight stay at the Linden Row Inn (including a suite on the day of the wedding for preparation), and a post-wedding brunch at the Hilton Garden Inn on Sunday, March 8. > Read more.

Page 1 of 121 pages  1 2 3 >  Last ›

Entertainment

Weekend Top 10


There are a bunch of unique events just for kids this weekend in Henrico! Virginia Repertory Theatre’s production of “The Maggie Walker Story” opens tonight at The Children’s Theatre at Willow Lawn. On Saturday, Walkerton Tavern will host a tea party and the Children’s Museum of Richmond-Central will celebrate the Lunar Year of the Goat with several exciting activities. Ages 11-13 are invited to an “Introduction to Volleyball” workshop on Sunday at the Eastern Henrico Recreation Center. For all our top picks this weekend, click here! > Read more.

CAT Theatre announces auditions for ‘Quartet’

CAT Theatre will hold auditions for Quartet on Saturday, Feb. 21, from 4 p.m. to 7 p.m., and Sunday, Feb. 22, from 3 p.m. to 6 p.m. Auditions will be held at the theatre, located at 319 N. Wilkinson Road in Richmond. Quartet will run May 22 through June 6 and will close out CAT’s 51st season.

Director Laurie Follmer is seeking two males, ages 50-70 and two females ages 50-70. British accents are required for roles and are requested for auditions. There is no actual singing in the show. Singing ability and experience is not a requirement. Audition sides are available at http://www.cattheatre.com on the Audition Page. > Read more.

Restaurant watch

Find out how your favorite dining establishments fared during their most recent inspections by the Virginia Department of Health. > Read more.

Page 1 of 114 pages  1 2 3 >  Last ›







 

Reader Survey | Advertising | Email updates

Classifieds

DISH Network. Starting at $19.99/month PLUS 30 Premium Movie Channels FREE for 3 Months! SAVE! & Ask About SAME DAY Installation! CALL - 888-714-7955
Full text

Place an Ad | More Classifieds

Calendar

The Virginia Repertory Theatre will present “The Maggie Walker Story” Jan. 30 to Feb. 15 at The Children’s Theatre at Willow Lawn. This compelling drama is a tribute to the… Full text

Your weather just got better.

Henricopedia

Henrico's Top Teachers