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Venture Richmond Publishes 32 Page Magazine Touting $3.6 Billion in Downtown Investments

From 2019-2022 more than 75 development projects totaling upwards of $3.6 billion have been completed or are underway in the Downtown master plan area of the City. Venture Richmond has tracked the developments and recently published a 32-page magazine documenting the growth and investment.

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Venture Richmond has put together a magazine that highlights the growth in the area over the past few years.

Some tidbits from the press release.

While Downtown makes up a relatively small share of the city’s total land area, it has substantial economic and community impact. Richmond’s downtown sits on 3.2 square miles of the city which is just 5.1% of the city’s total land but has a property value of $3 billion per square mile compared to $0.56 billion for the city overall and $0.065 billion per square mile for the region.*

From 2000-2018 Downtown absorbed 42% of the City’s population growth.* During that time Downtown experienced 110% population growth, with 21,000 people living Downtown in
2018.* Today, that figure is closer to 25,000 Downtown residents.

Downtown attracts a diverse population of residents, many of whom are young and well educated, with 57% having a bachelor’s degree or higher.* Downtown has 53% of all jobs in the
City and 63% of its knowledge workers.* Creative workspaces fill high rise buildings, funky historic rehabs, and quirky storefronts.

* Source: International Downtown Association Research on Richmond for “The Value of U.S. Downtowns and Center Cities”

If you’d like to check out the magazine you can view it online or as a magazine for pick up at Venture Richmond offices by request only. Please email [email protected] to request your copy beginning Tuesday, January 18. It can also be found in the January issue of Virginia Business Magazine.

Sample page from the magazine highlighting some of the many developments that have popped up in Manchester.

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Richard Hayes is the co-founder of RVAHub. When he isn't rounding up neighborhood news, he's likely watching soccer or chasing down the latest and greatest board game.