RICHMOND, VA. — Greenberg Gibbons has broken ground on Midtown64, a more than $500 million mixed-use development comprising 46 acres in Henrico County, located just outside downtown Richmond.
Shamin Hotels is a joint venture partner for the project, which is being built on the former Genworth Financial headquarters campus. The personal finance firm signed a 175,000-square-foot office lease in late 2022 to move its headquarters to the SunTrust Business Center in the Richmond suburb of Glen Allen, Va.
Located at the intersection of West Broad Street and I-64, Midtown64 will span 2 million square feet with up to 130,000 square feet of upscale retail, restaurant and entertainment space. Anchor tenants will include a grocery store and new-to-market fitness concept.
The project will also include up to 300,000 square feet of Class A office space, an apartment community with nearly 1,000 units, 194 townhomes built by homebuilder Lennar and a 226-room, dual-branded hotel featuring Tempo by Hilton.
Greenberg Gibbons says the development will feature contemporary architecture, landscaped plazas and convenient parking within a walkable environment.
“Midtown64 builds on our track record of revitalizing properties into thriving mixed-use destinations, while marking an exciting expansion of our portfolio in Virginia,” says Brian Gibbons, chairman and CEO of Greenberg Gibbons.
Over the coming months, Greenberg Gibbons will continue to share updates on the development. Construction will proceed in phases, the first phase of which will include retail, 130,000 square feet of office space, multifamily residences, for-sale townhomes and the dual-branded hotel. Phase I is slated for completion in 2028, with subsequent phases featuring additional office, retail, multifamily and hospitality space.
Baltimore-based developer Greenberg Gibbons maintains a portfolio of more than 6.7 million square feet and $1.6 billion in assets. The firm specializes in mixed-use, retail, commercial and residential properties.
Shamin Hotels is the largest hotel owner and operator throughout Virginia with more than 10,000 rooms across 70 properties. The Richmond-based hotelier broke ground recently on Hilton Richmond The Mondelle, a 270-room full-service hotel and conference center within the $1 billion Springline at District 60 mixed-use development in nearby Chesterfield County.
— Kristin Harlow