Today, more than 80% of global shipping involves containers. They're packed with everything from personal storage items in dry containers to heavy machinery on flat rack containers. For business owners shipping products, getting a container from point A to point B requires precise planning and high-level tracking. But that's easier said than done when global supply chains become over-congested, leading to loading time issues and delays.
That's bad news for business owners who are already under a massive amount of stress. The truth is that container storage delays can cripple a business, but there's a viable solution: drayage brokers in Richmond, VA like RelyEx. Drayage companies provide unique solutions to minimize demurrage and help ensure the successful delivery of your freight.
With more than 30 combined years of experience and a solutions-oriented team, RelyEx has quickly become the first choice for streamlined, efficient drayage services. To understand the true value of RelyEx's offerings in the global logistics industry, it helps to understand first what drayage is and why it's used.
If you're a seasoned business owner who uses port drayage to transport your products, you know exactly how important the service can be. But if you were to poll a group of random people, you may get five different definitions of the term "drayage." That begs the question, how is one of the most crucial steps in the supply chain and most vital components of global trade such a confusing concept? When you break it down, it's not too difficult to grasp.
Drayage, by definition, means the transportation of freight from an ocean port to another destination. Today, drayage is also used to describe the process of transporting products and goods over short distances or over "the first mile."
While drayage often means short-distance movements during the supply chain process, it's primarily used in the container shipping space. Drayage loads usually have arrival and departure points in the same city and don't include long-haul, national transportation.
Because a drayage load can mean a few different things, confusion among carriers is common. Many carriers link drayage with going into a port, but that isn't always true. While all drayage loads typically originate from a port of entry, there are often several legs of a drayage journey before a container turns up at its final stop. Legs of a drayage load may include:
You may be thinking, what's so important about drayage? It's such a small step in the container storage transport process. In reality, it's an integral piece needed in the logistics industry and a crucial part of U.S. supply chain management.
To truly understand the importance of drayage, let's use flowers as an example. Most cut flower shipments enter the market from areas in South America until they end up at Dutch auction houses. Once there, wholesalers purchase flowers in bulk and send those products to retail outlets worldwide. Because flowers are perishable, they typically need to be refrigerated and are often shipped in reefer containers. These refrigerated vessels must maintain a certain temp to prevent loss.
Drayage companies like RelyEx allow flower shippers to send their products from Argentinian ports to airports in the Netherlands with peace of mind because their products are protected. The only way to accomplish this feat is with the help of swift, meticulous port drayage services. Drayage companies allow flower shippers to send their products from Argentinian ports to airports in the Netherlands with peace of mind, because their products are protected. The only way to accomplish this feat is with the help of swift, meticulous port drayage services.
If port drayage is compromised, it can cause delays and even fines. You know the packages you get delivered to your front door from apps like Amazon? Without drayage and drayage brokers, one or two-day shipping times wouldn't even be possible.
As a multi-billion-dollar industry in the U.S. alone, it seems like drayage shipping issues shouldn't exist. But the fact is inefficiencies and congestion are still major problems at ports. Whether it's a lack of carriers, absent chassis, or overburdened terminals, delays lead to missed deadlines, lost revenue, and worse.
But anytime challenges exist, so too do innovative solutions.QUOTE REQUEST
RelyEx was created because our founders saw a need in the logistics space for more reliability and efficiency. The reality of the shipping and logistics industry is that it has become very transactional. It's an odd evolution, because most businesses seek a third-party logistics partner that is accessible, transparent, and committed to providing solutions.
As the logistics space continues to grow, it creates newfound expenses and complexities. Clients like ours know that and need a supply chain partner who is genuinely interested in their business. By understanding the needs of our customers and carriers, we can provide the most reliable, effective drayage services possible.
Unlike some drayage companies in Richmond, VA, we begin managing your containers before they ever hit the ports by mapping out the most efficient pathways of delivery. That way, our team can discover the best drayage pathways to expedite delivery time and reduce fees that cut into profits.
Our valued drayage customers choose RelyEx because:
At RelyEx, we like to consider ourselves problem solvers. The nature of the container drayage industry presents new challenges every day, but we're firm believers that there's a solution to every hurdle we encounter. And while some drayage businesses implement a reactive approach, RelyEx customers choose us for our proactive mindset. We take pride in solving your company's drayage challenges to help you avoid frustrating fees, missed expectations, and delayed shipments. We strive to make every transaction successful and streamlined by partnering with shippers who prioritize transparent, prompt, and accurate communication.
RelyEx approaches your business from the customer's perspective - a unique approach that helps us provide high-quality, effective drayage services. We've been in the customers' shoes, know their pain points, and because of that, provide first-hand solutions to stressful supply chain issues. With over 30 years of collective knowledge, our team excels in:
Our varied, high-level drayage shipping experience helps us achieve our overarching goal: expertly managing your freight movement needs. That way, you can direct your time and focus on growing the core aspects of your business while we handle the heavy lifting. Throw in proactive planning to avoid bottleneck situations and strong communication for transparent customer relations, and you can see why so many companies trust RelyEx.
When it comes to shipping logistics, it only takes one mistake by a mediocre worker to disrupt your business. That's why, at RelyEx, we pride ourselves on forming and nurturing relationships with carriers who match our standards of care. Our founding partner started his career transporting freight for companies as an on-demand carrier. He uses that knowledge to maximize the resources of our carriers so that our customer's expectations aren't just met - they're exceeded.
Based in the port city of Richmond, RelyEx has a keen understanding of the challenges of managing the inbound and outbound flow of containers. Our team of container drayage experts provides your business with unique solutions to nuanced shipping problems, minimizing demurrage and ensuring the successful delivery of your freight.
Customers choose RelyEx because:
Some drayage brokers don't care how customers feel about their service as long as they sign a contract and get paid. As a solutions-oriented team, RelyEx takes the opposite approach. We're motivated by the opportunity to overachieve for our customers and to provide them with the best logistics experience possible. With professional experience as carriers and shippers ourselves, we know the roadblocks and challenges you're facing. We excel at mapping out the best plans of action to solve those problems. But that's just the start.
Our tracking experts monitor and manage every aspect of your drayage shipment from booking to delivery, 24/7. Once booked, we look for the availability of your containers hourly once they're at port. When they arrive, our team acts quickly to access your storage containers when they're available.
Plus, RelyEx ensures your company's requirements are met by the carrier during loading and delivery and provide necessary documentation as fast as possible. With real-time tracking updates and access to our customer service professionals, your team has complete visibility throughout the shipping process.
Over the years, RelyEx has built a strong network of drayage carriers, transloading locations, and container storage spaces to provide you with the best possible options to match your drayage service needs. We know that searching for quality service presents an added layer of complexity and stress to our customers. That's why we work hard to take that off your plate by connecting you with our reliable shipping partners.
With a background moving freight as an on-demand carrier, our founding partner understands how to maximize the resources and equipment of our carriers to match your needs.
Like other industries, the global logistics space is complex. Mistakes will be made, and problems will happen. With those truths in mind, RelyEx has built its reputation as problem solvers. Unlike other drayage companies, we don't shy away from this industry's complexities because we take pride in solving problems. Even better, we aim to do what's needed to avoid those problems altogether.
As your logistics partner, we will provide your company with accurate, transparent, and prompt communication. If there are unexpected issues, we'll notify you immediately and will provide several options to remedy the problem. We even offer custom reporting for large clients who need at-the-moment updates and quick access to shipment documentation.
Why let the unpredictability of your industry dictate your success? With a background working in manufacturing, our founders are familiar with the demands of managing production schedules and sales orders. That experience makes it abundantly clear to us that every business and industry is different. If you struggle with seasonal surges or other factors, our team supports your business with a mapped-out plan and schedule, so you stay ahead of the game.QUOTE REQUEST
Based in the port city of Richmond, RelyEx has a keen understanding of the challenges of managing the inbound and outbound flow of containers. Our team of container drayage experts provides your business with unique solutions to nuanced shipping problems, minimizing demurrage and ensuring the successful delivery of your freight.
Demurrage is a charge issued by a port, carrier, or railroad company for storing containers that do not load and unload their cargo promptly. Once the daily limit of free time is exceeded, shippers are charged daily demurrage fees until their cargo is shipped. Though different ports have different policies, charges can range from $75 to $150 per container, per day, for a set number of days. Additional demurrage fees are incurred if a shipper exceeds the port's parameters.
Even when shippers maintain a tight schedule for unloading freight, external factors can play an uncontrollable part. Typically, shipping mistakes caused by human error trigger the most demurrage charges. Some of the most common causes of demurrage include:
Typically, shippers need four specific documents to clear shipments through customs: A Bill of Lading (or BOL), a commercial invoice, a packing list, and an arrival notice. Seasoned drayage brokers like RelyEx are used to preparing these documents, but new shippers tend to miss this step due to inexperience.
If a shipper only pays for part of their shipment, a vessel operator may refuse to release their freight until their bill is fully paid. Payment delays lead to cargo detention at the port of entry, which triggers demurrage charges.QUOTE REQUEST
Paperwork is needed when you're shipping goods with a drayage company. When documents like the Certificate of Origin or Bill of Lading arrive at their destination late, you can expect demurrage fees. RelyEx avoids this situation entirely by being proactive when submitting paperwork.
Additional causes for demurrage fees can include:
At RelyEx, we know first-hand how stressful supply chain problems can be for business owners. Though drayage shipping might seem minor on the surface, it affects every stage of your shipping process. And when inevitable hurdles manifest, RelyEx propels you over the proverbial roadblocks with a proactive mindset and a passion for challenging projects. We believe that all problems have a solution, and our unique vantage point allows us to provide first-hand solutions to customers in a wide array of industries.
When it comes to your business, don't settle for anything less than RelyEx. Contact our office today to learn more about how we make your shipping experience streamlined and stress-free.843-885-3082
Spend Your Summer Downtown!Looking for a lineup of the best events in Richmond, VA to celebrate this summer? From outdoor live music to all you can eat crab festivals, there is something for everyone to do in downtown Richmond! Check out our list of summer events in Richmond, VA and spend the season near the River!Dominion Energy RiverrockFrom tunes to trail running, bikes to bouldering, SUPs to pups, fishing, craft brews, paddling on the James, and more…it’s all hap...
Looking for a lineup of the best events in Richmond, VA to celebrate this summer? From outdoor live music to all you can eat crab festivals, there is something for everyone to do in downtown Richmond! Check out our list of summer events in Richmond, VA and spend the season near the River!
From tunes to trail running, bikes to bouldering, SUPs to pups, fishing, craft brews, paddling on the James, and more…it’s all happening right here in Richmond!
Highlighted by the James River, surrounding trail network, and numerous parks, we are lucky to have so many options for outdoor adventure! Join Riverrock and #RockTheOutdoors as you discover new ways to experience Richmond’s amazing outdoor scene!
Festival Open Hours
Friday, May 19
Saturday, May 20
Sunday, May 21
See the full Riverrock schedule.
Friday Cheers is a weekly summer concert series that brings some of the biggest up-and-coming artists to Brown’s Island along Downtown Richmond's riverfront every Friday in May and June at just $10-15 for a family-friendly night of live music. Fun for all ages!
Friday Cheers returns for its 38th season in 2023 as Richmond’s longest running concert series showcasing some of the nation’s hottest touring bands and all-time regional favorites.
Check out the full lineup of artists.
Enjoy some great shows from the Broadberry on Brown's Island! With artists like Rainbow Kitten Surprise, Young the Giant, and Jason Isbell, these outdoor shows in Richmond are sure to be a summer highlight!
There's something for the whole family at the Richmond Night Market! Explore the Artisan Village and support local artists and small business owners while the Creative Kids Hangout keeps your young explorers busy then check out the Main Stage, which offers live music and crowd engagement. The Maker Space is where adults can create and have fun with friends, and new mural artists will be painting live throughout the night. Don't miss out on the fun of these summer activities in Richmond VA, held every second Saturday from 5-9 PM (April-December) at the 17th Street Market!
Experience the vibrant showcase of African American creators, crafters, farmers, and growers at the renowned RVA Black Farmers Market. This eagerly anticipated Richmond summer event returns to a Historic Jackson Ward outdoor venue, providing a platform for individuals to share their exceptional talents with the Richmond community. Immerse yourself in the diverse array of offerings, where creativity and skill come together to create a truly remarkable experience!
Get ready for the ultimate blast from the past with the highly anticipated 80's Was the Greatest on Brown's Island! Prepare to be amazed by incredible acts such as "JEEZY" (The SnoMan), the iconic "DRU HILL" featuring SISQO in celebration of their 25th anniversary, Grammy-nominated sensation "MARSHA AMBROSIUS" from the duo Floetry, hip-hop legend "KOOL MOE DEE," and the unstoppable force of "BE'LA DONA," DC's renowned all-female Go-Go Band.
Hammers & Ales is an all-day party and community give-back event on Brown's Island Saturday, June 10th. The Hammers & Ales party side features live music, local beer & food trucks, and tool-themed games. The give-back experience includes team-sponsored build projects where participants use ToolBank materials, tools, and instructions to hand-build outdoor furniture and placemaking features that are donated to local community groups. This year, teams will choose from hand-building a park bench, picnic table, or a dog house. The outdoor furniture and placemaking features will be donated to James River Park and the doghouses go to Ring Dog Rescue.
Richmond's All You Can Eat Crab Festival is back on Brown's Island! Indulge in delicious hot and fresh crabs, live music featuring the legendary DJ Kool and En'Novation Band & Show with DJ Joe Fu and DJ Drake, along with food and merchandise vendors!
Virginia PrideFest is a FREE event celebrating Virginia's LGBTQ+ community with performers, vendors, food, live music and more! This year's festival will close with a special performance from Tegan and Sara - don't miss it!
If you’re considering a move to Richmond, Virginia, you’re probably wondering if it’s the right place for you. Whether you’re drawn to its rich history or modern conveniences, there are countless reasons why people choose to call this place home. Richmond has a neighborhood for any lifestyle, from charming downtown condos near shops and restaurants to picturesque, affordable suburbs. However...
If you’re considering a move to Richmond, Virginia, you’re probably wondering if it’s the right place for you. Whether you’re drawn to its rich history or modern conveniences, there are countless reasons why people choose to call this place home. Richmond has a neighborhood for any lifestyle, from charming downtown condos near shops and restaurants to picturesque, affordable suburbs. However, like any city, there are also drawbacks to consider before moving to Richmond. .
In this Redfin article, we’ll explore the pros and cons of living in this exciting city, providing you with the information you need to decide whether Richmond is a good place to live. So whether you’re interested in Richmond apartments or Richmond homes, let’s dive in and discover all that this historic city has to offer.
Richmond’s rich history is undoubtedly one of the city’s most significant draws, and it’s a definite pro for anyone who calls this place home. From the American Revolution to the Civil War, Richmond has been at the forefront of many pivotal moments in American history. Historic monuments like the Virginia Capitol building and museums like the Edgar Allan Poe Museum serve as a reminder of the crucial role the city played in shaping the United States. For history buffs, the city offers a treasure trove of information and experiences to explore, and for everyone else, it’s an opportunity to learn and appreciate the stories and events that have led us to where we are today. The rich history of Richmond is not just something to admire from afar; it’s woven into the fabric of the city, making it an exciting and dynamic place to live.
Located within a few hours’ drive of major metropolitan areas such as Washington D.C., Baltimore, and Virginia Beach, giving residents of Richmond the best of both worlds. Additionally, Richmond is home to the Richmond International Airport, making air travel even more accessible. With its convenient location, residents can enjoy a smaller city’s charm and the easy access of larger urban areas.
Whether you want to explore the local arts scene, celebrate the city’s history, or have a good time, something is always happening in Richmond to suit your interests. Some of the most popular events in the city include the Richmond Folk Festival, the Richmond Jazz Festival, the Richmond International Film Festival, and the annual Richmond Bacon Festival, to name a few. These festivals attract thousands of people every year, offering a wonderful opportunity to meet new people, experience new cultures, and enjoy the city’s vibrant energy.
From southern comfort food to international cuisine, Richmond has various dining options that cater to every taste and preference. In addition to its delicious food, Richmond is also home to a thriving craft beer scene, with many local breweries and taprooms like the Hardywood Park Craft Brewery offering unique and flavorful brews. With so much culinary creativity and innovation on display, it’s no wonder that Richmond has become a destination for foodies worldwide. So, if moving to Richmond has you hungry, you don’t want to miss trying the oysters and country ham.
Richmond is home to various leading industries like CarMax and Dominion Energy, including other leaders in finance, healthcare, education, and technology. In recent years, Richmond has seen a surge in job growth, with many new companies moving to the city and existing businesses expanding their operations. This growth has been driven in part by the city’s skilled and educated workforce, as well as its attractive business climate and low cost of living. Richmond is a great place to start or advance your career, with many job opportunities. Whether you’re a recent graduate, a seasoned professional, or a skilled tradesperson, many opportunities await you.
Richmond has struggled with poor transportation infrastructure for many years. The city’s public transportation system, run by the Greater Richmond Transit Company (GRTC), has long been criticized for its limited service area, irregular schedules, and outdated vehicles. Additionally, the city’s roadways are often congested, particularly during rush hour, making commuting and getting around the city a frustrating experience.
There are two power plants in Richmond, located in nearby Louisa County. While these plants provide a significant energy source for the region, they may be a potential drawback for some people considering living there. There are concerns about nuclear power plants’ safety, particularly in an accident or natural disaster. Additionally, some people may worry about the long-term effects of exposure to low radiation levels.
During the summer months, temperatures can often reach above 90 degrees Fahrenheit, with high levels of humidity that can make it feel even hotter. This can be challenging for people who are sensitive to heat, as well as for outdoor activities such as hiking or sports. Additionally, the hot and humid conditions can lead to increased levels of air pollution, which can harm people with respiratory issues. To protect yourself from the heat, learn how to heatproof your home.
Richmond’s location in the mid-Atlantic region means it experiences a wide range of weather conditions throughout the year, including high pollen levels. According to the Allergy Capitals Report, Richmond ranked number 23 on the list for the most challenging place to live with allergies. This can be particularly challenging for people who suffer from seasonal allergies, which can cause symptoms such as sneezing, runny nose, and itchy eyes. The city’s urban environment can also exacerbate allergies, as air pollution and other environmental factors can trigger symptoms. Despite these challenges, there are steps that people can take to manage their allergies, such as avoiding triggers and seeking medical treatment.
Private institutions such as the University of Richmond and Virginia Commonwealth University have tuition rates that can be significantly higher than the state’s public universities, as well as the national average. This can concern families with limited budgets or students looking to minimize student loan debt. However, it’s important to note that Virginia also offers various financial aid programs that can help offset the cost of education.
Richmond has plenty to offer those considering a move to the area. Its rich history, lively social scene, growing job market, excellent food and drink options, and prime location are all significant positives for many people. However, like any city, there are potential drawbacks, including poor transportation infrastructure, nuclear power plants, bad allergy seasons, hot and humid summers, and expensive education costs. It’s essential to weigh the pros and cons of living in Richmond to determine if it’s the right place for you.
If you are represented by an agent, this is not a solicitation of your business. This article is for informational purposes only, and is not a substitute for professional advice from a medical provider, licensed attorney, financial advisor, or tax professional. Consumers should independently verify any agency or service mentioned will meet their needs. Learn more about our Editorial Guidelines here.
RICHMOND, Va. (WRIC) — The wait is over! The Science Museum of Virginia has officially opened The Green, a former parking lot turned several-acre urban greenspace, right in the middle of the city.Featuring native trees, lighted walking paths, benches, public art and more, the Broad Street greenspace provides a break from the hustle and bustle of the city and is available for all community members to utilize.“Richmond needs more greenspace, and we’re proud to showcase examples of natural solutions to address th...
RICHMOND, Va. (WRIC) — The wait is over! The Science Museum of Virginia has officially opened The Green, a former parking lot turned several-acre urban greenspace, right in the middle of the city.
Featuring native trees, lighted walking paths, benches, public art and more, the Broad Street greenspace provides a break from the hustle and bustle of the city and is available for all community members to utilize.
“Richmond needs more greenspace, and we’re proud to showcase examples of natural solutions to address the impacts of climate change,” said museum Chief Wonder Officer Richard Conti. “We can’t wait to see guests, neighbors and community members enjoying The Green’s robust ecosystems and blooming native plants, and we look forward to watching that connection and engagement deepen as we complete the remaining work of greening our campus.”
The Green project has been in the works for more than five years and progress toward the goal began with the construction of a four-level museum parking deck and the demolition of two acres of flat surface lot where the greenspace now resides.
In addition, the greenspace aligns with the Richmond 300 development plan, which prioritizes green space for Scott’s Addition in an effort to reduce stormwater into the combined sewer system, reduce heat islands and increase the tree canopy — among other goals. The science museum says the green space will assist in mitigating the heat island effect felt in the district.
Although The Green is open to the public, the full-scale goal of the museum’s larger green space project has yet to be completed. The museum hopes to have more than 20 acres of green space surrounding the building in the next several years.
The Green is open to the public every day from 6 a.m. to 10 p.m. Pets are welcome in the space, but must be on a leash.
Find 8News on Twitter, Facebook, and Instagram; send your news tips to iReport8@wric.com.
STACKER — Stacker compiled a list of the highest-rated things to do in Richmond on TripAdvisor. TripAdvisor rankings factor in the average rating and number of reviews.TripAdvisor#30. Virginia Museum of Fine Arts– Rating: 5.0 / 5 (3,120)– Type of activity: Art Museums– Address: 200 N Boulevard, Richmond, VA 23220-4007– ...
STACKER — Stacker compiled a list of the highest-rated things to do in Richmond on TripAdvisor. TripAdvisor rankings factor in the average rating and number of reviews.
– Rating: 5.0 / 5 (3,120)– Type of activity: Art Museums– Address: 200 N Boulevard, Richmond, VA 23220-4007– Read more on TripAdvisor
– Rating: 4.5 / 5 (2,066)– Type of activity: Points of Interest & Landmarks • Farms– Address: 1700 Hampton St, Richmond, VA 23220-6899– Read more on TripAdvisor
– Rating: 4.5 / 5 (1,612)– Type of activity: Gardens– Address: 1800 Lakeside Ave, Richmond, VA 23228-4700– Read more on TripAdvisor
– Rating: 4.5 / 5 (1,425)– Type of activity: Cemeteries– Address: not available– Read more on TripAdvisor
– Rating: 4.5 / 5 (1,077)– Type of activity: Historic Sites • Architectural Buildings– Address: 9th & Grace Sts, Richmond, VA 23219– Read more on TripAdvisor
– Rating: 4.5 / 5 (1,165)– Type of activity: Points of Interest & Landmarks– Address: 3166 W Cary St, Richmond, VA 23221-3504– Read more on TripAdvisor
– Rating: 4.5 / 5 (1,262)– Type of activity: Military Museums • Speciality Museums– Address: 1201 E Clay St, Richmond, VA 23219-1615– Read more on TripAdvisor
– Rating: 4.5 / 5 (415)– Type of activity: Speciality Museums • History Museums– Address: 2000 E Cary St, Richmond, VA 23223-7032– Read more on TripAdvisor
– Rating: 4.0 / 5 (534)– Type of activity: Speciality Museums • Historic Sites– Address: 1914 E Main St # 16, Richmond, VA 23223-6964– Read more on TripAdvisor
– Rating: 4.5 / 5 (405)– Type of activity: Historic Sites • Churches & Cathedrals– Address: 2401 E Broad St Corner of E. Broad Street and 24th at top of Church Hill. Across from Patrick Henry Park., Richmond, VA 23223-7128– Read more on TripAdvisor
– Rating: 4.5 / 5 (266)– Type of activity: History Museums– Address: 428 N Boulevard, Richmond, VA 23220-3307– Read more on TripAdvisor
– Rating: 4.5 / 5 (452)– Type of activity: Science Museums– Address: 2500 W Broad St, Richmond, VA 23220-2057– Read more on TripAdvisor
– Rating: 4.5 / 5 (496)– Type of activity: History Museums– Address: 500 Tredegar St, Richmond, VA 23219-4330– Read more on TripAdvisor
– Rating: 4.5 / 5 (269)– Type of activity: Nature & Wildlife Areas • Gardens– Address: 4305 Sulgrave Rd, Richmond, VA 23221-3256– Read more on TripAdvisor
– Rating: 4.0 / 5 (432)– Type of activity: Military Museums • Historic Sites– Address: 480 Tredegar St, Richmond, VA 23219-4328– Read more on TripAdvisor
– Rating: 4.5 / 5 (393)– Type of activity: Bodies of Water– Address: 22nd Street and Riverside Drive James River Park, Richmond, VA 23223– Read more on TripAdvisor
– Rating: 4.5 / 5 (142)– Type of activity: Historic Sites– Address: 110 1/2 E Leigh St, Richmond, VA 23219-1308– Read more on TripAdvisor
– Rating: 4.5 / 5 (181)– Type of activity: Bodies of Water • Parks– Address: not available– Read more on TripAdvisor
– Rating: 4.5 / 5 (173)– Type of activity: Shopping Malls– Address: 11800 W Broad St, Richmond, VA 23233-1064– Read more on TripAdvisor
– Rating: 4.0 / 5 (324)– Type of activity: Historic Walking Areas– Address: not available– Read more on TripAdvisor
– Rating: 4.5 / 5 (111)– Type of activity: Wineries & Vineyards– Address: 1320 Summit Ave, Richmond, VA 23230-4710– Read more on TripAdvisor
– Rating: 4.5 / 5 (126)– Type of activity: Biking Trails • Jogging Paths & Tracks– Address: not available– Read more on TripAdvisor
– Rating: 4.5 / 5 (69)– Type of activity: Historic Sites • Points of Interest & Landmarks– Address: 818 E Marshall St, Richmond, VA 23219-1917– Read more on TripAdvisor
– Rating: 4.5 / 5 (245)– Type of activity: Auto Racing Tracks– Address: 600 E Laburnum Ave, Richmond, VA 23222-2253– Read more on TripAdvisor
– Rating: 4.5 / 5 (147)– Type of activity: Monuments & Statues– Address: 621 S Belvidere St, Richmond, VA 23220-6504– Read more on TripAdvisor
– Rating: 5.0 / 5 (87)– Type of activity: Libraries– Address: 800 E Broad St, Richmond, VA 23219-1905– Read more on TripAdvisor
– Rating: 4.5 / 5 (79)– Type of activity: Neighborhoods • Historic Walking Areas– Address: not available– Read more on TripAdvisor
– Rating: 4.5 / 5 (84)– Type of activity: Nature & Wildlife Areas • Aquariums– Address: 400 Sausiluta Dr, Richmond, VA 23227-2139– Read more on TripAdvisor
– Rating: 4.5 / 5 (141)– Type of activity: History Museums– Address: 1015 E Clay St, Richmond, VA 23219-1527– Read more on TripAdvisor
– Rating: 4.5 / 5 (99)– Type of activity: Battlefields– Address: 3215 E Broad St, Richmond, VA 23223-7517– Read more on TripAdvisor
Richmond, Virginia, is nearing final approval to embark on the largest development project in its history: a $2.4 billion initiative that includes a new minor league ballpark, hotels and over 1,000 units of mixed-income housing.After the city’s planning committee unanimously recommended approval of an agreement between Richmond and its development partner for th...
Richmond, Virginia, is nearing final approval to embark on the largest development project in its history: a $2.4 billion initiative that includes a new minor league ballpark, hotels and over 1,000 units of mixed-income housing.
After the city’s planning committee unanimously recommended approval of an agreement between Richmond and its development partner for the project, RVA Diamond Partners, the deal now hinges on a city council vote taking place Monday evening.
Richmond officials say the development, which will be located in the city’s Diamond District, has the potential to revitalize its North Side, deliver a net benefit of approximately $1.1 billion over the 45 year lifespan of the project and secure the future of the Richmond Flying Squirrels’ — a Minor League Baseball affiliate of the San Francisco Giants.
“For years to come this project will bring revenue into the city so that we can continue to invest in our schools and mental health services, and repair our infrastructure,” said Levar Stoney, Richmond’s mayor, in a telephone interview. “It’s not just about building a ballpark, it’s about building an entire neighborhood.”
However, with the city council vote looming and an imminent deadline set by Major League Baseball to complete structural improvements to aging facilities, questions remain about the economic impact and the public dollars required.
Just two weeks before the city council vote, Richmond officials announced amendments to the financing proposal, citing rising interest rates. The announcement brought into question claims made by the city that the project would be entirely self-financed and raised concerns about whether revenues generated within the proposed special taxing district will be enough to cover debt service payments.
Under the new proposal, Richmond intends to cover the costs of infrastructure improvements, an expense the developer had previously agreed to pay for.
“In conjunction with the rapid rise in interest rates, we’ve had to work closely with the city to underwrite a project that meets their goals for affordable housing, a high-quality public park, a new mixed-use development and of course an MLB-compliant ballpark,” said Jason Guillot Principal at Thalhimer Realty Partners, one of the firms that is part of the consortium that makes up RVA Diamond Partners. “Our modified financing structure has the effect of producing tax-exempt bond proceeds, which substantially lowers the annual debt service to the city as compared to higher-interest taxable bonds.”
Further, Richmond is expecting to issue roughly $23 million of capital improvement plan general obligation bonds and expand the special taxing district to include adjacent properties to cover the costs of the project.
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Adding to a growing chorus of criticism, the city has yet to release a third-party analysis of the financing plan, a point of contention for financial consultant John Gerner, who served as vice chairman of the Richmond City Council-appointed Navy Hill Development Advisory Commission four years ago. The Navy Hill project, a defunct proposal to replace the Richmond Coliseum — a now abandoned sports and entertainment arena — had a similar financing structure.
“At best, the Diamond District plan presents an opportunity cost and at worst the city’s going to end up having to pay for a substantial amount directly out of its general fund,” Gerner said.
But Richmond officials have not been afforded the luxury of time to wait for a third-party analysis.
The city is facing a 2025 deadline set by MLB to provide the Richmond Flying Squirrels an upgraded ballpark or risk losing its affiliation with the San Francisco Giants. Under the proposal, the stadium won’t open until 2026 at the earliest. Plus, Flying Squirrels owner Lou DiBella has expressed skepticism about the team’s future in Richmond.
DiBella did not respond to requests for an interview.
Richmond has learned from its Navy Hill failure, Mayor Stoney said, and he is confident that the city council will pass the resolution.
“The Navy Hill project failed for a number of reasons, politics being at the center of it,” Stoney said. “We took those lessons seriously when we constructed the Diamond District deal, and on Monday, we will find approval.”
(Updates with comments from Thalhimer Realty in the seventh paragraph.)