Statistics from the US Department of Transportation show more than 700,000 registered motor carriers are traversing our highways and roads. These trucks, which can be packed with everything from bricks and stone to dog food and grocery items, keep thousands of American businesses afloat. For business owners shipping these products across the country, precise planning and high-level tracking are required. But with increasing rates and a wide range of delays to overcome, overseeing a shipment of LTL freight is easier said than done.
For overworked business owners, managing multiple shipments can seem impossible in today's freight landscape. But the reality is that many businesses rely on less-than-truckload shipments to keep their doors open. When these shipments are compromised, their business is too. But there's a viable solution: LTL freight brokers in Richmond, VA like RelyEx provide reliable solutions to common LTL shipment problems, eliminating the stress and worry of LTL shipping.
With more than 30 combined years of LTL experience and a solutions-oriented team, RelyEx is your go-to choice for streamlined, efficient LTL shipping services. To understand the true value of RelyEx's less-than-truckload shipping options, it helps to understand first what LTL shipping is and why it's used.
In the freight industry, LTL stands for "less-than-truckload." It is a widely-used method of transportation for smaller shipments that don't require the space of a full truckload. In an LTL shipment, several customers' loads are placed onto one truck, which helps reduce how much it costs to ship those products.
In fact, if your freight doesn't fill an entire trailer but weighs 150-15,000 lbs., LTL freight shipping in Richmond, VA, may be the most efficient, cost-conscious way to transport your products. That's because, in an LTL setup, you're only paying for the space your freight takes up. LTL shipping companies like RelyEx optimize LTL loads by choosing the most efficient routes at the best rates so your cargo gets to where it needs to go without any issues.
Business owners often choose LTL freight services in the following circumstances:
When it comes to LTL delivery options, there are a lot to choose from. But not every LTL broker is created equally. Some LTL companies do not have the tools or technology to track your shipments and optimize your routes. In worst-case scenarios, they may not be insured or reliable. If you're looking for an experienced LTL carrier that exceeds expectations with time-tested strategies and innovative technologies, look no further than RelyEx.
With more than two decades of experience in LTL operations, our team utilizes the power of GlobalTranz to compare rates across hundreds of approved carriers in the blink of an eye, while also providing the most cost-effective options for moving your freight. When you choose RelyEx for LTL shipping, you can leverage our expert team to handle your shipments. You can also manage the process yourself via GTZShip, which is Globaltranz's user-friendly management system. With GTZShip, you can access and compare LTL shipping rates, track your shipments, and manage your financials, all from one intuitive platform.
When it comes to LTL freight in Richmond, VA, clients trust their products with RelyEx for many reasons, including the following:
Because GTZShip keeps outsized freight available, it can negotiate the best LTL rates on your behalf. Our clients can access these extra-low rates in one of two ways:
Regardless of the option you choose, RelyEx's knowledgeable customer care reps will cover all of your LTL shipping options, so you can make an informed shipping and purchasing decision for your freight.
Yes, you read that right - in addition to giving you access to industry-leading rates, RelyEx's partnership with GTZShip gives you full management of your freight. We're talking about access to reporting, tracking, and much more. This extensive visibility is essentially a one-stop shop for everything related to the status of your freight.
Unlike some LTL shipping software, this system requires no contracts or signup fees, making it simple to provide quotes and book immediately when you're ready. Whether you use GTZShip directly or rely on our team to book your freight, your company will always have access to this free technology.
While it's true that RelyEx provides customers with the best rates and technology in the LTL industry, we go above and beyond the normal call of duty. Why? Because we strive to treat your shipment as if it's our most important one. Put simply, we put a lot of time and effort into making sure we do things right the first time around. Our fierce commitment to the customer and to quality protects not only your reputation, but your bottom line by preventing lost customers and sales.
RelyEx excels at LTL shipping because we are:
From dedicated LTL solutions to transactional relationships, RelyEx is here to help. Unlike other LTL companies, we get the job done right with customer-focused service, industry expertise, and Globaltranz's industry-leading Transportation Management System.
Our dedicated team of LTL specialists provides you with the best freight visibility available, whether you need a few shipments a week or you need hundreds. In order to do so, we communicate with carriers throughout the entire shipping process, so you know your items are delivered on time. Though rare, if we spot an issue, we'll provide you with an alternative solution immediately.
Plus, if you have large quantities that need to be shipped, our team is happy to provide you with customized reporting for free. That way, you can access at-the-moment updates and important shipment documentation with a few clicks or taps.
When your freight is too light for full truckloads but too heavy for basic parcel carriers like UPS, LTL shipping is a great option to consider. When you use an LTL shipping company like RelyEx, you get even more value. We've been over some of the basics associated with LTL freight shipping - now let's touch on some of the biggest benefits of using a company to handle logistics from start to finish.
One of the most common reasons clients use LTL services is because they're able to save money. LTL shipping is much less expensive than the alternative, which is to hire a private driver and truck. When you go in on LTL services with other shippers, you can have your products delivered at a fraction of the cost of going private. In this setup, you pay for space you use, not the space you don't use, which is common in full truckload freight shipping.
As an added benefit, relying on an LTL freight company like RelyEx can lower your warehouse costs since more shipments can be sent at a time. That means you don't have to wait weeks or even months for a trailer to fill up.
When you use a parcel carrier like FedEx, you can only ship up to 150 pounds at a time. That means you'd have to break down your shipment into separate boxes in order to ship. With LTL freight shipping, your packages can be palletized and shrink-wrapped so they're shipped in a single load.
At RelyEx, our team knows how important your shipment is, whether you're sending thousands of pounds of products or a single pallet. That's why we ensure your products are packaged correctly and have security protocols baked into every service we offer. Plus, by keeping your freight together, we decrease the chance of damaging your cargo, which pleases your clients and boosts your customers' satisfaction.
The magic of LTL shipping lies in the fact that we fill fewer trailers with more freight. Doing so reduces global emissions and makes the process much quicker. Imagine using a semi-truck to haul products that only fill a quarter of the trailer. It would waste money, time, and space that could be used for other products. With LTL shipping, you're protecting the environment and reducing the number of partially-filled trucks on the road. This, in turn, saves you money and makes you an eco-friendly company - something you can use as a selling point for your business.
LTL providers like RelyEx use advanced logistics technology to ensure your cargo arrives on time and without damage. By investing in technology like GlobalTranz, we save our clients from doing so themselves. With GlobalTranz, our clients gain access to robust tracking options like real-time freight locations, so you can monitor your shipment's progress. With GlobalTranz, you get more than just a way to book your LTL cargo â you benefit from our qualified network of carriers, expert logistics support, and leading technology features.
It's impossible to say exactly how much your LTL shipping may cost because the NMFC, or National Motor Freight Classification, determines those prices. Using this standard, pricing is dictated for commodities moving in intrastate, interstate, and foreign commerce. Items are grouped into 18 different classes, based on four characteristics:
If you're shipping a product that is more likely to be damaged, stolen, or cause damage to other items, it may affect LTL shipment pricing.
Does your product require specific care or handling instructions? If so, you can probably expect higher prices.
This factor accounts for how much space your item occupies in relation to its weight or the weight per cubic foot for each piece of freight you are shipping.
How easy is it to load and transport your commodity? Can it be loaded and transported with other items?
When combined, these characteristics are used to establish an NMFC code for your LTL cargo. These codes are crucial, as they help your LTL carrier understand the challenges of shipping your products. If the item you need to ship has a high NMFC code, it's because it's more difficult to transport, which usually means it's more expensive to ship.
Depending on where and how often you ship LTL freight, your broker may choose a regional or national LTL carrier. Regional carriers often service a group of states within a region. National carriers have a larger footprint and can often eliminate the need to use several carriers for your shipments. RelyEx has the infrastructure and strategies for all of your LTL shipping - contact our office today to learn more about your options.
Though regional and national carriers are different, they often use similar models for shipping. Two of the most popular types of shipping methods include hub and spoke distribution and LTL consolidation.
In this traditional model, your shipments go through a network of warehouses, terminals, and hub facilities where your products are grouped with other shipments. Your freight then travels to local "spokes" (or terminals), where they are delivered. If you need to ship freight over short distances, this model may be a good choice to consider.
Some common benefits of the hub and spoke model include:
LTL consolidated shipping is a model where LTL carriers bring several shipments from different shippers to a final destination. Instead of using hubs and spokes along the shipping route to bundle freight and move cargo, LTL consolidation works by taking multiple shipments and turning them into a single truckload. This truck then makes multiple stops, where your products are delivered.
Some of the most common benefits of LTL consolidation include:
At RelyEx, our goal is to expertly manage the movement of your freight so you can focus on your core business. With more than 20 years of combined experience with LTL freight shipping in Richmond, VA, our team can select the most efficient and cost-effective model for your needs. That way, you can accomplish your day-to-day tasks while we handle the heavy lifting and any logistical challenges.
At RelyEx, we believe that trustworthy, comprehensive, and streamlined LTL shipping options are better for your business. And for us, what's better for your business is better for ours. That's why, when it comes to LTL shipping, we work tirelessly to ensure every aspect of your freight experience is embedded excellence. We take this unique approach because our management were once customers like you. They were people who, for one reason or another, had to deal with frustrating and often unsolved shipping and logistics challenges. Today, we take pride in solving those challenges and only partner with carriers who match our high standards.
If you're looking for an LTL company in Richmond, VA that prioritizes customer service, strong communication, and proactive thinking, we're here to help you avoid delayed shipments and missed expectations.
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.)