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CoStar Corporation to build tallest new building in downtown Richmond

Plan drawing of CoStar Group in downtown Richmond, Virginia. (CoStar Group)

The Richmond skyline is reaching new heights.

The Richmond Times-Dispatch is reporting that Virginia’s capital city will get a new tallest building when CoStar Group, a commercial real estate research and analysis firm, expanded its James River campus with a 26-story skyscraper.

The tower will rise on vacant land adjacent to a nine-story building that the Washington-based company acquired last year, and will be part of a $460 million expansion of the company’s campus in Downtown Richmond on nearly 4 acres of vacant land that CoStar purchased in August 2020 for $20 million.

CoStar also plans to construct a six-story building where the company’s employees can use the wellness and fitness center, congregate at the conference facilities and auditoriums, and tour the facilities. shops and restaurants.

Construction on the project, which includes 750,000 square feet of office and retail space and is expected to add 2,000 to 3,000 new jobs to more than 1,000 existing CoStars, is expected to begin in 2023 and be ready. put into use in 2024.

The new tower will soar 510 feet into the air, surpassing the James Monroe state office tower, which is 29 stories tall and 449 feet tall. Dominion Energy has a new building nearby that is 20 stories tall and 417 feet tall.

Office space in both buildings will be used by sales, marketing, software development, customer service and support teams.

CoStar CEO Andrew Florance, who was a lab partner with Amazon founder Jeff Bezos while both attended Princeton University, announced the plan on Friday, jokingly calling the new development is “Little HQ2,” a nod to Bezos’ East Coast headquarters in Northern Virginia known as “HQ2.”

Features of the new tower, being designed by Pickard Chilton architect William Chilton, include solar panels that will provide a “significant amount of energy” used by the certified building. receive LEED, according to the Times-Dispatch.

[Richmond Times-Dispatch] – Vince DiMiceli

https://therealdeal.com/2021/12/18/costar-group-to-build-new-tallest-building-in-richmond-virginia/ CoStar Corporation to build tallest new building in downtown Richmond

Dais Johnston

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