Stonebridge and South Bon Air

AKA Eastern Midlothian Turnpike

 

I could do a timeline…

March 2008
— Kroger announces it will build largest Kroger on east coast (marketplace) at dead mall
–> https://www.styleweekly.com/richmond/kroger-to-build-its-biggest-store-at-cloverleaf/Content?oid=1375958

2009
— Midlo will get sidewalks between Spring Rock Green and Powhite.
–> http://www.nbc12.com/story/9992401/midlothian-turnpike-gets-sidewalks

2011
–old mall was demolished after ~3 years of lying fallow.
–> http://www.progress-index.com/news/20160512/new-developments-blossom-at-former-cloverleaf-mall

December 2012
— Kroger Marketplace opens … and months later attracts Qdoba Mexican Grill, Sweet Frog and a Krispy Kreme
–> http://www.richmond.com/news/local/chesterfield/midlothian-turnpike-progressing-after-kroger-s-opening/article_9892b9a5-0e24-54a9-bfba-52f918875314.html
–> http://www.richmond.com/business/local/kroger-opens-marketplace-to-large-crowds/article_0fa7696f-2649-527a-bf52-f63b74c06957.html

January 2013
— Carena’s Jamaican Grille rebuilt in 2012
— YMCA Richmond president says old Best products building at Spring Rock Green should be a YMCA
–> http://www.richmond.com/news/local/chesterfield/corridor-seeks-to-recapture-glory-days/article_322c10bd-06d0-53a3-8443-4f201e840b52.html
–> first Krispy Kreme in Cfield opens to great fanfare –> http://www.chesterfieldobserver.com/news/2014-05-14/Front_Page/The_final_Element.html

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Summer 2014 —
— Waffle House is scheduled to begin construction

 

August 2014–

— Timmons Group (engineering/consulting firm) announces via press release that they and the developer, Bond Companies are progressing nicely in revitalizing Spring Rock Green

— “We are very pleased with the expansion and revitalization efforts on Spring Rock Green. We have worked hand-in-hand with Bond Companies to ensure that the list of tenants mirror our revival efforts of the shopping center,” said Junie West, Principal of Timmons Group. “This area is a thriving community and we are focused on continuing to revamp the business and shopping options for the thousands of citizens who travel throughout this area every day.”

–> http://www.prweb.com/releases/2014/08/prweb12093969.htm

 

October 2014 — Free shuttles provided by GRTC from Spring Rock Green (and Willow Lawn) to the Richmond Folk Fest. (In 2015, the free shuttles from SRG and WL were cancelled, with only shuttles coming from City Stadium)
–> https://wtvr.com/2014/10/03/your-2014-richmond-folk-festival-questions-answered/
–> http://www.richmond.com/events/richmond-folk-festival/free-shuttles-for-richmond-folk-festival-from-city-stadium-only/article_c8e9c1de-66e1-11e5-93ad-5b291e79b952.html

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2015 — New Grand Mart, opens, and recent influx of tenants, including locations for Panera Bread, Starbucks and Chipotle Mexican Grill… plans for road to The Boulders … “Element at stonebridge” apartments to open by end of year
–> http://www.chesterfieldobserver.com/news/2015-05-20/Real_Estate_Briefs/Eastern_Midlothian_corridor_abuzz_with_activity.html
–> Zaxby’s rumored –> http://www.nbc12.com/story/29599322/the-next-phase-of-the-stonebridge-development-is-underway

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May 2016 Element at Stonebridge (by Boyd Homes) opens
–> http://www.progress-index.com/article/20160512/news/160519898

July 2016 — GRTC Spring Rock Green Express bus eliminated due to low ridership
–> http://www.richmond.com/news/local/city-of-richmond/grtc-transit-routa-tweaks-estimated-to-create-in-savings/article_90e6b51e-31d3-5d1b-a3f6-2faeb003b7af.html
Between November 2016 and April 2017, Stonebridge is sold to S2 Capital Partners LLC AKA Rob Seidel, president of S2 Capital Partners.
–> http://www.nbc12.com/story/33825425/chesterfields-stonebridge-shopping-center-sold-for-12-million

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March 2017
— Announced Volleyball facility … The Stonebridge sports facility also will house programs for the Chesterfield County Parks and Recreation Department
–> https://richmondbizsense.com/2017/03/17/7m-volleyball-center-sets-up-new-uses-at-stonebridge/

June 2017 Stonebridge is “international”
–> http://richmondmagazine.com/news/features/chesterfield-welcomes-the-world/

August 2017 — owners host “Live at Stonebridge” Summer Concert Series 6/22, 7/13, 8/10
–> https://www.eventbrite.com/e/live-at-stonebridge-summer-concert-series-tickets-36838024523#

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February 2018 — Spectrum Transformation Group, a clinic serving people with autism and other developmental, behavioral and mental disorders…breaks ground… A Zaxby’s is currently under construction.
–> https://richmondbizsense.com/2018/02/13/latest-phase-stonebridge-breaks-ground/

April 2018
— Stonebridge recreation facility opens, joining the Bensley and Ettrick centers as the county’s third public recreation facility.
–> http://www.chesterfieldobserver.com/news/2018-04-18/Announcements/Recreation_facility_opens_at_Stonebridge.html

June 2018 –plans for a brewery?!?!
–> http://www.chesterfieldobserver.com/news/2018-06-06/Front_Page/Brewery_coming_to_Stonebridge.html

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13 thoughts on “Stonebridge and South Bon Air”

  1. https://www.governor.virginia.gov/newsroom/all-releases/2018/april/headline-822687-en.html

    The Federal Tax Cuts and Jobs Act of 2017 that passed last December included provisions for a new revitalization tool, the Opportunity Zone and Opportunity Fund. The zones and funds will allow investors to receive tax benefits on currently unrealized capital gains by investing those gains in qualified census tracts or “Opportunity Zones.” While the federal government is responsible for defining the investment process, the Governor of each state was given until April 20, 2018 to nominate qualified census tracts as Opportunity Zones, and Virginia was allowed to submit 212 nominations out of the 901 eligible low-income census tracts.

  2. http://www.virginialisc.org/opportunity-zones-can-build-strong-neighborhoods/

    This is how the process works.
    Local governments can submit applications, identifying their low-income, high-poverty census tracts that they want designated to Gov. Ralph Northam’s office for review by March 2, 2018. The Virginia Department of Housing and Community Development will review the applications and submit recommendations to Gov. Northam. Gov. Northam is limited to nominating only 25 percent of all eligible tracts in Virginia and must send those submissions to the U.S. Treasury by March 21, 2018. From there, decisions will be made at the federal level as to which census tracts will become Opportunity Zones.
    LISC sent a letter to Gov. Northam, supporting certain zones that could best advance community development initiatives in Richmond neighborhoods.

    How do Opportunity Zones work?
    The Opportunity Zones program offers private investors incentives for investing capital in low-income communities, such as a temporary tax deferral, a step-up in basis and a permanent exclusion from taxable income of capital gains.

    Click HERE for more information on Opportunity Zones. And click HERE for more information on the Opportunity Zone process in Virginia.

    http://www.lisc.org/new-markets-support-company/what-we-do/opportunity-zones/

    http://www.dhcd.virginia.gov/index.php/component/content/article/346.html

  3. http://stonebridgerichmond.com/construction/

    News Article: 12/20/12
    Times Dispatch: Street names honor fallen Chesterfield servicemen

    Award Regonition 4/16/2013- Best New Retail Building in 2012

    http://www.richmondbizsense.com/2013/04/16/commercial-real-estate-projects-honored/

    Construction Update: 12/10/12
    The Kroger Marketplace Grand Opening took place on December 5th, and Kroger is now open to the public. Additional shops are currently under construction and completion date is scheduled for early 2013. Construction plans include a small park area for entertainment and events for the public. Future construction includes multifamily housing units, additional shop space and Phase II of larger anchor retail tenants.

    About Stonebridge
    Stonebridge is a multi-use redevelopment project of the former Cloverleaf Mall in Chesterfield County, Virginia, and was named the Best Private/Public Project by Virginia Business. Stonebridge is a multi-use, walkable development anchored by national grocer Kroger with future office and commercial opportunities as well as a variety of residential options. The project as a whole will consist of 300,000 SF of commercial, retail and office uses and multifamily units.

    The first phase of Stonebridge includes the construction of 144,000 square feet of retail space – most notably, a 123,600 square-foot Kroger Marketplace grocery store. The Kroger Marketplace will be the region’s largest traditional grocery store. The remaining square footage of the first phase of development will include a Kroger fuel station, 20,400 square feet of smaller retail shops and four (4) out parcels.

    Still in the planning phases, Crosland Southeast and Hutensky Capital Partners plan to commence on Phase II of Stonebridge in mid-2013. This next phase is projected to include 175,000 square feet of retail space plus approximately 350 multifamily residences.

    Stonebridge is a joint venture between Charlotte-based Crosland Southeast and Hartford-based Hutensky Capital Partners. The project was designed by McMillan Pazdan Smith, engineered by the Timmons Group and will be constructed by HOAR Construction. Demolition will be done by S.B. Cox.

    Key Facts
    Location: Richmond, VA

    Phase I:
    Size: 144,000 square feet
    Shop Space: 27,600 square feet
    Acreage: +/-28.5 acres
    Anchors: Kroger

    Outparcels: Bank of America, Firestone, Kroger Fuel Station, Krispy Kreme

    Phase II:
    Size: 175,000 sf of retail space
    Acreage: +/-34 acres 350 multi-family residences
    Anticipated Commencement: TBD

    Status: Under Development

  4. https://richmondbizsense.com/2017/03/17/7m-volleyball-center-sets-up-new-uses-at-stonebridge/

    $7M volleyball center sets up new uses at Stonebridge
    Jonathan Spiers March 17, 2017

    The Stonebridge sports facility also will house programs for the Chesterfield County Parks and Recreation Department, which will lease 5,000 square feet in the building. Programs primarily will serve the county’s senior population, with some youth programs and other services, officials said.

    The sports facility introduces a new use for Stonebridge, which is moving away from original plans for big box retailers and toward other potential uses, said Rob Seidel, a principal with McLean-based S2 Capital Partners. The company purchased the retail portion of Stonebridge – the 8-acre, 52,000-square-foot Stonebridge Marketplace Shopping Center – in November for $12 million from original developer Crosland Southeast.

    Seidel said a planned second phase for Stonebridge, west of the shopping center and north of the sports facility, originally was envisioned for more than 100,000 square feet of primarily big box retail users. But those plans have changed, he said.

    “The big box retail isn’t doing so well these days. There’s not as much demand for it as there was five to 10 years ago,” he said. “So we’re looking at alternative uses for the land that make sense in the marketplace.”

    Seidel said those uses could include a hotel, specialty office and potentially a residential component, as well as additional retail.

    “There are active discussions going on and a great deal of interest from us and our partners to manifest a second phase there,” Seidel said.

  5. https://www.cdfifund.gov/pages/opportunity-zones.aspx

    OPPORTUNITY ZONES RESOURCES
    Opportunity Zones

    The authority to implement IRC 1400Z-1 and 1400Z-2 has been delegated to the IRS. The CDFI Fund is supporting the IRS with the Opportunity Zone nomination and designation process under IRC 1400Z-1 only.

    Frequently Asked Questions about Opportunity Zones (IRS Resource)

    IRS Revenue Procedure

    For questions on the Opportunity Zone nomination and designation process:

    Phone: (202) 653-0406

    E-mail: OpportunityZone@cdfi.treas.gov

    Opportunity Funds and Opportunity Zone Investments

    The IRS is currently working on guidance under IRC 1400Z-2 (including the certification of Qualified Opportunity Funds and eligible investments in Qualified Opportunity Zones) and welcomes comments. Please send any comments or questions to CC.ITA.Section.1400@irscounsel.treas.gov.

  6. https://www.cdfifund.gov/Pages/default.aspx

    WHAT DOES THE CDFI FUND DO?
    The Community Development Financial Institutions Fund (CDFI Fund) plays an important role in generating economic growth and opportunity in some of our nation’s most distressed communities. By offering tailored resources and innovative programs that invest federal dollars alongside private sector capital, the CDFI Fund serves mission-driven financial institutions that take a market-based approach to supporting economically disadvantaged communities. These mission-driven organizations are encouraged to apply for CDFI Certification and participate in CDFI Fund programs that inject new sources of capital into neighborhoods that lack access to financing.

    Each business financed, each job created, and each home built represents a critical step in the transformation of a life, a family, and a community. This is real change. This is the CDFI Fund. Discover More >

    What are CDFIs?
    Did you know the CDFI Fund is an important part of your community?
    Which CDFI Fund program is right for your organization?
    Looking for training or technical assistance opportunities?

  7. https://ofn.org/cdfi-locator
    4 results

    APPALACHIAN COMMUNITY CAPITAL

    Christiansburg, VA Contact:
    Donna Gambrell Phone:
    202.547.5155

    FREEDOM FIRST FEDERAL CREDIT UNION

    Roanoke, VA Contact:
    Keith A. Rickoff Phone:
    540.527.3532

    PEOPLE INCORPORATED FINANCIAL SERVICES

    Abingdon, VA Contact:
    Cindy D. Green Phone:
    276.623.9000

    VIRGINIA COMMUNITY CAPITAL

    Christiansburg, VA Contact:
    Jane Henderson Phone:
    540.260.3126

    https://www.vacommunitycapital.org/invest/

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