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Developer Plans 515,000-SF Centennial Towers

RICHMOND, VA-The Downtown property, which could cost as much as $200 million to realize, will encompass office and retail space, as well multifamily offerings and a boutique hotel.

By Barbra Murray | Updated on August 04, 2005

(To read more on the multifamily market, click here.)

RICHMOND, VA-Goodstein Development Corp. is proposing to change the landscape of the city here. The New York City-based developer plans a 515,000-sf mixed-use development called Centennial Towers, which is estimated to cost anywhere from $175 million to $200 million to complete.

Goodstein senior vice president of development Leonard Bayer tells GlobeSt.com two towers rising 25 stories will encompass a 150,000-sf class A office element, a retail portion of 40,000 sf to 45,000 sf and a 100-room boutique hotel. In addition, there will be a residential segment with a yet-to-be-determined number of units spanning 250,000 sf with condominiums on top and rental apartments on the lower half of the space. Centennial Towers will be located at the 500 block of East Main Street.

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