Former Reynolds Plant to become Mixed Use Development
Developers plan to buy a former Reynolds aluminum foil plant in downtown Richmond, and convert the six acre property into a mix of residential commercial and retail space.
George Washington himself surveyed the prime river view property, where canal traffic and river trade flourished…and remained industrial right through the 20th century, until the Reynolds foil plants close and the land sat unused for years.
Souter: This piece of property really inhibited the canal from being everything it could be.
Richard Souter, Vice President of The WVS Company says 170 apartments are planned around the historic warehouses.
Souter: It’s a beautiful location. Some of the upper floor units will have direct views of the river, and it really is a truly walkable apartment if you worked in any of the law firms or banks downtown.
The contact is signed, due diligence underway, and Souter says HUD financing should not be a problem.
Souter: At the time, we imagined a vibrant, commercial, retail, restaurant community along the canal.
Charles Fishburne, WCVE News.