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Williams Mullen may move to downtown building

Williams Mullen, Virginia’s third largest law firm, would be the lead tenant in a 15-story office building proposed for downtown Richmond.

The $60 million project would be built between Ninth and 10th Streets south of Canal Street between One James Center and Riverfront Plaza, and a portion of it would rise over the Expressway Parking Deck. Virginia Beach-based Armada Hoffler is the developer.

Williams Mullen has about 350 attorneys and staff at Two James Center, where it occupies about 105,000 square feet. It would take up about three-fourths of the 200,000 square feet in the new building.

Williams Mullen, Virginia’s third largest law firm, would be the lead tenant in a 15-story office building proposed for downtown Richmond.

The $60 million project would be built between Ninth and 10th Streets south of Canal Street between One James Center and Riverfront Plaza, and a portion of it would rise over the Expressway Parking Deck. Virginia Beach-based Armada Hoffler is the developer.

Williams Mullen has about 350 attorneys and staff at Two James Center, where it occupies about 105,000 square feet. It would take up about three-fourths of the 200,000 square feet in the new building.

Ralph L. “Bill” Axselle Jr., a Williams Mullen partner who represents Armada Hoffler, said the city’s development plans have called for an office tower on the site since 1992. The building would be constructed over the parking deck and on a small vacant parcel immediately to the east of it.

The developer is asking for what Axselle called “a very modest” financial incentive from the city, which would include $250,000 to enhance the parking deck, $380,000 for streetscape improvements and $1.5 million abatement in real estate taxes over five years.

He said the project would increase the city’s real estate tax revenues on the property from $20,000 a year to $720,000 a year.
City Council’s finance committee met last week to review the project, and the full council is scheduled to act on the project on July 28.

The project would be the third within a few blocks of each other with a law firm as the lead tenant. Hunton & Williams occupies much of one of the two towers in Riverfront Plaza, and Troutman Sanders moved into the building named for the firm at 1001 Haxall Point three years ago.

Although it moved into Three James Center well after it was built, McGuireWoods is the major tenant in the building, and its name adorns the building.

Ralph L. “Bill” Axselle Jr., a Williams Mullen partner who represents Armada Hoffler, said the city’s development plans have called for an office town on the site since 1992. The building would be constructed over the parking deck and on a small vacant parcel immediately to the east of it.

The developer is asking for what Axselle called “a very modest” financial incentive from the city, which would include $250,000 to enhance the parking deck, $380,000 for streetscape improvements and $1.5 million abatement in real estate taxes over five years.

He said the project would increase the city’s real estate tax revenues on the property from $20,000 a year to $720,000 a year.
City Council’s finance committee met last week to review the project, and the full council is scheduled to act on the project on July 28.

The project would be the third within a few blocks of each other in which a building was constructed with a law firm as the lead tenant. Hunton & Williams occupies much of one of the two towers in Riverfront Plaza, and Troutman Sanders moved into the building named for the firm at 1001 Haxall Point three years ago.

Although it moved into Three James Center well after it was built, McGuireWoods is the major tenant in the building, and its name adorns the structure.

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