Brown's Island Project Takes Off
All 122 condominiums in the 10-story residential tower on Brown's Island are under contract, and the office building next door is 90 percent leased, city officials say.
With work on the 10th Street bridge to the island "substantially complete," says John Woodward, the city's director of economic development, the long-awaited Riverside on the James development should reach full occupancy this fall.
The first major tenant for the office building the Troutman Sanders law firm will move in Memorial Day weekend. The developer, Daniel Corp., also has signed a lease agreement with investment bankers Harris Williams & Co.
As for retail, Woodward says the project's co-developer, Maryland-based Cordish Co., is seeking tenants for 66,500 square feet of retail space. Cordish has long hinted that it expects to secure major restaurant and entertainment tenants such as the Hard Rock Café, or an ESPN Zone sports bar and restaurant.
It's unknown when the retail portion of the project will be complete, Woodward says. (The only tenant to sign on so far is a McAllister's Deli.)
The success of the condos and demand for office space may bode well for retailers. The condos under contract range from $150,000 to $500,000, and the class A office space is selling at a premium, Woodward says. Scott Bass