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Judge sides with leaseholder in Scott’s Addition parking spots spat

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Posted at 6:31 AM, Apr 04, 2024
and last updated 2024-04-04 06:31:19-04

RICHMOND, Va. -- The planned redevelopment of an entire block of Scott’s Addition could be on ice for the next 16 years after a recent court ruling.

Last week a Richmond Circuit judge ruled that North Carolina-based developer Hem + Spire has the right to renew its lease on a 51-space parking lot at 3210 W. Marshall St., potentially keeping the lease active through 2040.

The surface lot is part of the former Party Perfect complex that D.C.-based Dalian Development bought for nearly $4 million in 2018. In 2021 Hem + Spire bought a mixed-use complex across the street at 1300 MacTavish Ave. for $10.8 million, a deal that included a lease for use of the off-site parking lot.

Continue reading this story on Richmond BizSense.

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