RICHMOND, Va. — A longtime Richmond developer says he’s pinpointed the city’s next “land of opportunity” – and he’s getting in on the action.
J.F. Williams III, a retired commercial real estate broker from Harrison & Bates, has snatched up a handful of parcels along North Boulevard, taking control of the stretch between Arlington and Ellen roads for potential redevelopment.
Williams has since razed the buildings on the 3-acre site, including a former Bill’s Barbecue location and the Shenandoah Shutters building at 3100 and 3108 N. Boulevard, respectively.
Bill’s closed in 2012 after 80 years in business, and Williams was involved in helping the restaurant chain sell its remaining locations. He decided to purchase the Boulevard location himself.
“It has opened my eyes to the major change that is taking place within central Richmond,” he said. “Right now there is a kind of vacuum – there’s a void in significant development – and as it’s worked out, the interchange of 64 and 95 on North Boulevard all the way to Broad Street is the land of opportunity.”
Williams bought the 1.4-acre Bill’s parcel in 2013 for $1.2 million, then he and partner Chris Snow purchased the four adjacent parcels last summer for a little more than $1.3 million.
Demolition on the Shenandoah Shutters building has been going strong in recent weeks.
