Navy Hill developers tout proposed CoStar Group deal to build office tower, create jobs

Richmond

RICHMOND,Va. (WRIC) — Mayor Levar Stoney announced Monday that commercial real estate company CoStar Group is in talks to build a new office tower as part of the proposed Navy Hill project.

The more than 400,000 square foot office building would sit next to the proposed arena and would create more than 2,000 new jobs over the next five years. 

CoStar Group CEO Andy Florance said the company’s current Richmond office space in the West Rock building, which houses about 1,000 employees, is full and has no additional room for expansion. 

“We believe in the Navy Hill Project and that it could provide an ideal solution for our company’s future growth here in Richmond,” said Florance.

LATEST HEADLINES:

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

StormTracker 8

Trending Stories

More Trending Stories

Don't Miss

More Don't Miss

Local Events