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VCU Economic Developments Foster More Than New Ideas in Richmond

We found this pretty interesting article on workitrichmond.com the other day about VCU’s latest technological and economic developments happening across the Richmond region. Over the past 15 years, the university has been pushing for technological advancements such as new medicines, new business partnerships and student work opportunities to create lasting relationships between local businesses and the university.

In the last year, VCU’s Technology Transfer office has helped kick start their economic development efforts. The office is a resource that helps connect students with an industry and works to transfer their ideas and inventions from the university to the local business community.

Some of VCU’s recent successes include:

  • A new FDA regulatory clearance for EViTAR, a catheter for drug and cell delivery.
  • Commercialization of EmergenOx, a device which provides medical-grade humidified oxygen in emergencies.
  • Licensing by Finis, Inc. for the marketing of SwiMP3, a waterproof recreational audio-device that transmits sound, using bone conduction.

Since VCU is a thriving creative community, the assistance of this program is essential because it provides students with resources and counseling to help get their ideas developed and sold into the Richmond marketplace.

Nicole Colomb, who has been hired to oversee VCU’s new push for economic development efforts, said forging closer ties with the business community will benefit the region by raising the university’s stature while creating jobs and attracting industry here.

(per the article in WorkIt, Richmond)

The Tech Transfer office has become a great resource for economic development across Richmond, as serves as a liaison between local businesses and VCU. As a resource for students to connect and create new ideas, the office generates innovations in the local economy.

So what do you think VCU’s Tech Transfer program can do for Richmond? A more creative marketplace, stronger regional economy, more entrepreneurship and more RVA based businesses and ideas.

 

 

 

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VCU’s da Vinci Center helps Richmond become a top 5 for job creation

 

 

 During Rep. Eric Cantor’s  visit to Virginia Commonwealth University’s da Vinci Center for Innovation on Monday, he declared Virginia as an epicenter of job creation and entrepreneurship, according to an article on workitrichmond.com.

A recent survey by Gallup showed Richmond, Va. in the top five metro areas for job creation out of the 50 largest United States Metropolitan areas. Richmond came in third behind Pittsburg, Pa. and Oklahoma City, Ok. as number one. More than 30% of employers are hiring and just over 14% are laying off workers.

Cantor, the R-7th and the House Majority Leader, toured the da Vinci Center-a collaboration of VCU’s School of the Arts, Business and Engineering-and was impressed with the presentations by two groups of students. “What I saw was a remarkable effort to bring the many assets of VCU together toward creativity and innovation,” he said.

The students are participating in a paid summer internship program, a program he also said encourages the want for students to create job opportunities that contribute to the markets growth in Richmond. Once the presentations were completed “Cantor asked how many of them are interested in becoming “job creators” later in life. Almost all of them raised their hands,” according to the workitrichmond.com article.

Each group is collaborating on real world projects for two Richmond businesses using their diverse backgrounds. One group is working on a project with The Martin Agency to make Tylenol dosing simpler and more accessible for parents. The other group is evaluating the Mary Frances Youth Center and coming up with ways to help the organization stay out of debt.

Future job innovators, like these VCU students, add to the growing list of Richmond jobs and job postings seen on websites like Indeed.com. The job search website stated that “the Richmond, Va. job market is strong compared to the rest of the U.S.”  Job postings had a national decline of 32% while Richmond’s only had a 19% decline.

According to a The New York Times’ Economix blog post, surrounding Richmond cities, like Virginia Beach, have the highest proportion of employers laying off workers.

The da Vinci Center will continue to merge creativity, diversity and business minded students together  to help create innovative projects for job creation in the fall for the launch of its master’s program. Kenneth Kahn, the center’s director, said students will “come in with an idea and leave with a business.”


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Venture Richmond Forum Unveils New Developments in RVA

After years and years of work throughout the city, Downtown Richmond is finally getting the attention it deserves, thanks to a nearly $1 billion dollar makeover from the state.

This makeover was the highlight of discussion at Venture Richmond’s Annual Downtown Development Forum last Thursday, May 31st, as Richmond’s business leaders, developers and architects met to reveal their latest ideas for up and coming projects.

Proposed projects included the VCU School of Medicine building, the Virginia Biotechnology Park, a 150,000-square-foot addition for Health Diagnostic Laboratory Inc, as well as several apartment buildings in the Manchester and business districts.

Over $120 million is going into creating more residential spaces across the downtown area, according to agbeat.com, who says the recent heightened demand for apartments is a result of the drop in the Multifamily Vacancy Index (MVI).

Fyi, the MVI measures the multifamily housing industry’s perception of vacancies which has recently dropped to a level of 31, an all time low.

“Multifamily construction continues to be a bright spot in the overall housing market,” said NAHB Chief Economist David Crowe, in a report by agbeat.com.

Residential development across Richmond was a large part of the revitalization plans discussed at last Thursday’s forum.  For more information about how the State is funding these different projects, click here.

Another project in the works is by the Franklin Development Group, who is working to revitalize the Manchester District by building a 17-acre development at the Reynolds South Property.

“We’re a long way from closing,” said Franklin Development’s Manager, Thomas Wilkinson, who discussed the possibility of  over 300 apartments, office space and an upscale grocer at Thurday’s forum.

Although the project plans aren’t official yet, Wilkinson assures Richmond-ers  that the development will revitalize the Manchester district and appeal to the area’s increasipopulations on.  Checkouts Richmond BizSense’s coverage of the Reynolds Development for more info.

Millions of dollars from the City are being put into new construction on the VCU campuses, as well as some of Richmond’s most beloved landmarks, including the Main Street Station Clock Tower and 17th Street.

The idea behind Richmond’s makeover? To transform traditonal buildings and warehouses into modern, revitalized structures for public use.

Be sure to keep your eyes open, as these new developments pop up across the city!

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How much of an impact do VCU & UR have on Richmond?

Richmond isn’t a college town by any stretch of the imagination. During the breaks when all of the students go home, the campus gets quiet (mostly) — but the city is still buzzing with activity. In fact, a lot of the students live here full-time, even when class is out.

If you haven’t heard yet, VCU & UR’s basketball teams have both made it into the Sweet 16 and Richmond is getting a lot of national attention for this feat. (check out this article in the NY Times and this article on ESPN.com)

All of this attention and excitement is wonderful, and has been a long time coming with the athletic programs at both schools gaining more and more traction. BUT the schools’ contributions to our fair city are quite a bit more involved than just succeeding at athletic competitions. Both schools have made quite a large economic and cultural impact over the years, and they continue to do so.

Mark Holmberg from CBS6 did a very interesting piece on how much Virginia Commonwealth University has done to improve the city and gives us a snapshot of VCU’s footprint here in Richmond:

VCU and its hospital and health system now have nearly 19 thousand employees.  It has become the largest employer in the metro Richmond with an annual payroll of $1.2 billion, and look at all the construction jobs and other support businesses for the 32,ooo students and all those employees- which equal a fourth of Richmond’s population.

VCU now owns 142 acres of Richmond, and has 203 buildings.

As for University of Richmond, it doesn’t have the massive scale that VCU does, but it has a great deal of influence and presence in the city as well. From the facts and figures portion of UR’s website:

  • 350-acre suburban campus located six miles from downtown Richmond
  • 379 full-time faculty [couldn’t locate a total for the entire staff]
  • 4,405 total university enrollment

And let’s not forget some of the other fine schools here in town that are also educating and providing economic development (and jobs!) — Virginia Union University, Randolph Macon College, and two Virginia Community Colleges (J. Sargeant Reynolds &  John Tyler) serving this area.

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New use for the Ukrop’s building at VCU

The Ukrop’s location on West Grace Street closed almost a year ago, and since then has sat vacant in the midst of the bustling VCU community.

Plans are finally underway for making use of the space since the acquisition by VCU just a few months ago.  Not a grand retail redevelopment, but it’s certainly a logical progression for VCU to acquire and use the space for additional classrooms and storage.

See the full story at Richmond BizSense here (which, by the way, does an EXCELLENT job with the business news for Richmond and the surrounding areas — if you aren’t subscribed then you are missing out!).

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New life for closed Ukrop’s VCU location

Per breaking news on the RTD website today, the former Ukrop's location on Grace Street adjacent to the Virginia Commonwealth University campus will now be part of that same campus.  VCU's real estate foundation purchased the property for future development.

"The foundation bought the property last month
for $9 million from BET Investments Inc., a Pennsylvania-based
development company."


Watch for more information in upcoming press.  I'm sure there will be articles soon.

For more on the closing of the Ukrop's at VCU, see here, here, and here.

(Thanks to burt from UP Richmond for the heads up on the article!)

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Is the fate of the VCU French Film Festival in doubt?

The VCU French Film Festival is a huge draw for francophiles both nationally and internationally each spring here in Richmond, but the fate of the Festival hangs in the balance with the latest news from VCU:

Peter S. Kirkpatrick stepped down as executive director of the
Office of International Education and as co-director of the renowned
VCU French Film Festival.

Kirkpatrick, who is credited with helping to internationalize the university, will remain an associate professor of French.

He and his wife, Francoise Ravaux-Kirkpatrick, founded the film
festival 16 years ago. He could not be reached for comment yesterday on
the reasons for his departure.

Rob Tregenza, director of VCU’s cinema program, said the fate of the
French film festival is under discussion and “I’m hoping it will be
resolved positively.”

VCU said in a statement that it is committed to continuing the festival, which is held at the Byrd Theatre in Richmond.

For more of a background on the VCU French Film Festival go here, or here, or here.  Let’s hope that we don’t lose this long-standing tradition!

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Changes in the Fan Parking District

On May 12, 2008, City Council voted in favor of dividing the Fan Parking District into two distinct zones.  (Here is a scanned copy of the ordinance — ordinance202008-105, as downloaded from the Fan District Association webpage)

As explained in the RTD this morning (although I couldn’t find the article online):  “The district runs roughly from Vine Street east to Virginia Commonwealth University, and within its boundaries, parking for more than an hour is limited to residents who pay $25 a year for a permit.”  Effective August 1, 2008, the district will be bisected into an eastern and western section by Lombardy Street.

The reasoning from City Council is to keep students living in the western section from using their parking decal to commute to the eastern section and taking up all of the parking that is designated for the residents of the area.

And the Fan is not alone in their concern for maintaining parking availability for their residents.  The Carver community has also instituted its own parking decal system, and City Council says that Oregon Hill and the Randolph communities are leaning towards doing the same thing.

My next thought upon seeing the news was whether or not the city had any plans to make bicycle commuting more accessible.  I mean, if the outrage is about the students commuting by car such a short distance — and they could walk or bike — AND the recent city planning has emphasized pedestrian-friendly planning, then this would be an ideal time to take a move with the potential to outcast the students and spin it into something that could really benefit everyone.  I’m no expert on making routes bike-friendly, but I’m sure there is plenty that could be done.  Any ideas?

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The French are coming! (where and when to find them)

Every year, Carytown becomes awash in the blue, white, and red stripes of the French flag.  Every shop in town has the posters proclaiming that the French are coming, and many shops are concocting plans to tie in promotions to the venerated and celebrated VCU French Film Festival.  This year will mark the 16th consecutive year of the largest French film festival in North America*, held each year in our very-own "landmark movie palace", the Byrd Theatre. (*note:  the History portion of the VCU FFF website indicates that the French government has officially recognized the Festival as the largest in the United States, but word-of-mouth that I always have heard is that it is the largest in North America)2008_vcufff

This year the Festival will be held the last weekend in March, from March 28-30 (Friday, Saturday, and Sunday).  Francophiles from all over North America will travel to Richmond for the celebrated festival, and French will be heard across the city as these visitors spend their money here.  In fact, in 2007 the headcount was more than 20,000 over the course of the 24 films that were shown.

The Festival has far-reaching effects, and you only have to hear one or two of the French directors and actors that are brought over to present their films to realize how much they appreciate the opportunity to participate.  Here is a blurb from the VCU FFF website that speaks about the French delegation:

              The French directors and actors that come each year are the key
to the Festival’s success. Even in France, there’s not  another venue where the public can meet the stars. For the guests, it is an opportunity to observe first-hand the crowd’s reaction to their films and to hear an unadulterated vision of their work.  Indeed, as opposed to other festivals that are generally meant for cinéphiles, this one is aimed at the “curiosity of an unspecialized audience” (Claude Miller, director). Many comment that the experience is beneficial  professionally for them, and they are delighted to discover the enthusiasm, interest, and the artistic and cultural affinities of their newfound American following.

It’s a wonderful opportunity for Richmond to be recognized on a global stage, and a wonderful opportunity for Richmonders themselves to be exposed to a cosmopolitan experience.  I suggest that you take the opportunity to take in a show or two, or to bypass the lines by buying a full pass to all of the movies (complete ticket info can be found by clicking here).  If nothing else, just take a stroll through Carytown that weekend and keep an ear open for French accents!

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How about a “Brand Richmond”?

It’s common knowledge that the United States’ image has been tarnished over the past several years.  There have always been jokes about the "rude Americans", but we are getting bashed from all sides lately.

This tarnished image of America means more than getting dirty looks when we travel overseas, it is affecting American companies that operate overseas as well.

VCU is hosting a public forum to discuss how to better America’s image internationally.  The 14th Annual International Business Forum will be held Tuesday, February 26th, from 3:00pm-5:30pm at the VCU Student Commons Ballrooms.  The Keynote Speaker will be Mr. Keith Reinhard (Chairman
Emeritus, DDB Worldwide), whose organization, Business for Diplomatic Action, is at the forefront of the rebuilding movement.  (source:  RTD article from 2/9/08, "VCU hosting ‘Brand America’ forum")

It sounds like a great idea and a very informative forum.  I would like to see a similar forum assembled to address "Brand Richmond".  It would be a pivotal time for it, considering the Downtown Master Plan sessions and the Crupi Report.

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The Fan Party Patrol is BACK!

Normally, a title like that would indicate some sort of pub crawl, or party bus, or something fun like that.  This time it is a follow up on "‘Party Houses’ in the Fan", a posting from this blog dated 9/13/06, that highlighted the Fan District Association’s self-appointed mission to monitor the public nuisance from private parties in the Fan.

The FDA’s website has announced that the Party Patrol is back, although I’m not really sure where it went in the first place…  I know that I consistently get hits from web searches looking for information on the Party Patrol, even though the blog I posted was over a year ago.  So, I thought it was time for an update.

To start with, you should probably visit the FDA’s official history and background of the Party Patrol.

Here is the announcement from the FDA website (minus the contact #’s…you can get those from their website):

The Fan District Party Patrol is Back

         

The Fan District Party Patrol returns, effective immediately.
            The patrol is a joint sponsorship by the FDA, City of Richmond and Virginia Commonwealth University.
              The patrol’s goals are to help reduce both under age drinking and binge drinking.
              One of the by products of the patrol is to increase the probability for a good nights sleep
              for both home owners and renters
              in the Fan District.
              The patrol will be running Friday and Saturday nights and other nights during the week.

There is also the matter of the "Fan Party Map".  Notice any favorite haunts there?  (I’m way out of the college party scene, so I don’t expect that I would recognize any of the addresses.)

Again, I’m not really sure if this "Party Patrol" and the ensuing map is a good idea or a bad idea.  I’m not here to discount the efforts of concerned citizens, but it does raise some questions.  (yes, the same questions I had before — because I haven’t seen any truly insightful answers as of yet) 

*Once a property is listed, is there a procedure for getting a property removed from the list once there is no more problem — or does it stay on the list forever? 
*How
will this list stigmatize an area?  (i.e., if I am a property owner a
half a block removed from a heavily "infested" area, how will this public info affect my property
value?)

It is telling, however, that all of the chatter I’ve seen online about
the Party Patrol over the past year has been negative, or at least
mocking.  I would be interested to see what effects it has had, good
and bad.

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More Developments for Boulevard

So it looks like Boulevard is on the rise.  There are enough projects going on that even if one or two fall through, the momentum is still there.  It’s exciting to see the area that is the introduction to Richmond for many people coming into the area off of I-64/I-95 finally being developed the way it should.

There are a couple of options on the block for the city-owned property adjacent to the Diamond.  I have posted before about the proposal for the new baseball stadium there.  From an article in the March 2007 issue of Richmond Magazine, there is another proposal that entails VCU using the same land as a tennis complex.  The "plans include a field house, six to eight indoor tennis courts, 12 to 14 outdoor courts and a center-court stadium, as well as a possible student-housing component".

The Boulevard Square cineplex and retail development mentioned in previous posts is still on track, from what I understand.

There is a new restaurant that is being built out along that corridor, as well.  I had heard rumors of this, but Style Weekly confirmed it with more details last week:

[Cole Bucholtz] and the owners of River City Tattoo, Jessika and Rob Weaver, are opening Strong Hill Dining Company
in a building that once held Motor Europa. The three are renovating it
from the ground up, bringing in all new kitchen equipment, a bar,
booths and tables. Plus, they’re planning to install a rooftop patio
and a small private dining room for parties.

I have even heard rumors of other moves that could be very interesting, but can’t be verified at the moment.

Even smaller pieces have fallen into place over the past couple of years, with the retail shops getting face-lifts and gaining new tenants, filling in the holes.

Any suggestions as to what could keep this momentum hot?  I’m all ears.

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Plight of the Independents

The ongoing struggle of the independent retailers vs. the big-box retailers is the focus of many blog entries (mine included).  There is a new entry ("Film traces struggles of mom-and-pop shops") on USATODAY.com’s Small Biz Blog that summarizes a movie by independent filmmakers Hanson Hosein and Heather Hughes.

The couples’ documentary is available on their website, and the trailer is on YouTube.  The trailer is very engaging, and I’m looking forward to sitting down later today to watch the movie.  Two former journalists trek across America to highlight the business of fighting against "big business" and "the corporate machine".

While they didn’t come through Richmond, don’t think that this doesn’t affect us locally.  If you don’t believe that, then just do some local searches on the battle from a few years ago in Ashland against the establishment of a new Wal-Mart.

Another recent example of the local reflection of this national issue is the VCU graphic design project put together the Fall 2006 semester that emphasized the benefits to the community of shopping with locally owned shops.  From the words on their own site:

ShopRVA is a coordinated effort to direct the public towards shopping
at local, independently owned businesses. This is not only to benefit
small stores. The act of buying locally allows cities to be more
self-sustaining and helps prevent intervention from corporate business.
Small businesses also add to the unique nature of the city by providing
services that cannot be found anywhere else in the world. Through this
campaign, ShopRVA hopes to provide incentive through education as to
why shopping locally is a wise way to give back to your community.

It’s a worthwhile project, and I hope it doesn’t die just because the class that put it together is over.  I have the feeling it will disappear with the tide of students that created it, but it is a movement that someone should take up.

Does anyone else know of local movements here in Richmond, or anywhere else, that falls in the same vein?

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Things Are Heating Up at VCU

For the details, see "Fire at VCU’s new business school" at The Richmond Democrat.

I am just glad that this one did not spread like the one a couple of years ago at the new dorms (that were also under construction, by the way).  I hope this isn’t going to be an ongoing trademark of any projects built under the VCU banner.

I like all of the development that VCU is doing, and the business that it is bringing to the area — but please don’t burn down the city in the process!

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El Rio Grande demolition

As reported by Haduken.com, the long-standing Mexican restaurant located on West Cary just west of VCU was demolished today (9/14/06).

Link: Say goodbye to the Rio Grande.

As I posted on a comment there:

I represented a client that was in negotiations to buy El Rio Grande
at the beginning of the year. The deal didn’t happen, but I did learn
that Eck Enterprises is rebuilding there, and the plan was to have at
least one more restaurant take it’s place.

They were hoping
to have El Rio Grande stay and intended to help them through the
construction, but I don’t know the outcome any more that what you can
see for yourselves.

Sad to see a landmark like that go away, but sometimes it is time to move on.  I have seen the plans from several months ago, and the planned buildings look great!  I am excited to see how this stage of redevelopment from Eck Enterprises will come together.

(See also: 2006 Golden Hammer Awards)

 

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“Party houses” in the Fan

The Fan District Association has implemented a patrol that will be out on Friday and Saturday nights watching and listening for "out-of-control" parties.  The offending addresses will be reported to the police and then recorded on their website for public access.

>>>

Report Those Party Houses to the Police!

         

            

Councilman
Bill Pantele working with the Richmond Police Department’s Sector 313
is introducing a new program to identify and report properties which
cause disturbance in the neighborhood. The program know as Party House
ID is being introduced to the FDA membership to allow our members to
make sure that party houses are included in the list of address
maintained by the Richmond City Police Department. We also encourage
residents to call the police each and every time that your peace and
quietude is interrupted.

            


                  The Fall Party Patrol kicks off this weekend — we have obtained a special cellular telephone number courtesy of
                    Verizon Telephone’s wireless divisions.
              Party Patrol (804) 317-2840
                Download the Party Patrol Flier to share with your neighbors
                  Click Here to Fill out the Form.
                  See a Map of the Party House Locations
              Information about the City of Richmond Noise Ordinance Section 38-1 & 2 and
                Virginia State Code Sections 5.1-317 Maintaining common nuisances; penalties.
                for filing complaints through the
                magistrates office
              The Party Patrol is currently running on Friday and Saturday nights from 9:00 pm to 3:00 AM

         

>>>

Good for them getting together to patrol and reporting the nuisances to the police!

I do, however, have an issue with the policy of publishing these "nuisance" addresses on a public access website. 
*Once a property is listed, is there a procedure for getting a property removed from the list once there is no more problem? 
*How will this list stigmatize an area?  (i.e., if I am a property owner a half a block removed, how will this public info affect my property value?)

I see this "solution" as a problem in itself.  We shall see.

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All cereal, all the time

In today’s RTD, a new type of restaurant for Richmond is highlighted in the article "Got milk? Oh, yeah, six kinds . . ."

The new eatery at 823 W. Broad St. was designed for folks who breakfast all day, or at least between 8 a.m. and 9 p.m. To accompany its 37 cold cereal choices (plus oatmeal, come winter), Out of the Box offers six kinds of milk, eight kinds of fruit and three candy toppings.

Plus juices, coffees, teas, energy drinks, muffins and yogurt parfaits.

It’s a simple concept not unlike building your own burrito or salad. Belly up to the corrugated aluminum bar, name your poison and shuck out $1.99 to $3.99 for a 16- to 32-ounce snap-crackle-and-popalicious bowl of sugary goodness.

"Out of the Box Cereal Co." is a very interesting concept, apparently borrowed from a franchise that is popular in other metro areas.  I heard about this last year, when the news of the impending opening was floating around.

I have to say that I’m skeptical, but interested to see how it does.  (And interested to try it out!)

Apparently, there is a fad of restaurants opening with a single-item men, i.e., "I heard of a store with nothing but french fries with 20 different sauces!".  hmmm…

 

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2006 Golden Hammer Awards

If you haven’t seen the Richmond Times-Dispatch this morning, pick it up.  There are quite a few good articles related to business and real estate today.

One in particular that I want you to note is the profile on Ed Eck.  This man and his company  have done (and continue to do) a great service for Richmond in redeveloping the area just west of VCU, specifically along the West Main St and West Cary Street corridors.  (If you are struggling to identify where I mean, think of the pastel colored buildings along West Main Street, Mulligan’s, the old El Rio Grande, Gold’s Gym, etc.)

Congratulations to Ed for winning the Andrew Asch Developer Award, from the pool of 2006 Golden Hammer Awards, from A.C.O.R.N. (Alliance to Conserve Old Richmond Neighborhoods) for "contributions to historical conservation".

Congratulations to all of this year’s winners and nominees!

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VCU Moves Forward

As reported in the RTD in "VCU projects get green light", everything is moving forward with the second phase of the Monroe Campus.  This is the big construction project that is 11 acres east of Belvidere Street, which will:

  • move the award-winning VCU Adcenter
  • construct new 440-bed residential complex
  • construct new 685-space parking deck
  • construct new medical science building
  • construct new research building

I know there are some that shudder at the thought of VCU "steam-rolling" into all of these areas that they have been working on over the past several years.  It’s exciting, though.  A lot of these areas are underdeveloped or abandoned, and VCU’s presence is revitalizing these areas that have been more or less left-for-dead.  Kudos to Trani and the VCU board!

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