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Vienna_Hokie
Joined: 09/16/2002
Posts: 17,623
Likes: 12,575
Vienna_Hokie

So they had to pay a penalty to the developer for not signing a lease

but the developer didn't have the ability to provide a property for them to lease since the city took it away. Is that right? Does VCU have a law school? If it does, they need to do better, because that seems like something that could at the very least be litigated to death or until the developer was bankrupt or willing to settle for something less absurd. Simple answer, when you have a building at the location we agreed to that we can lease, we'll sign the lease...until then, buh bye.
Posted: 06/15/2023 at 02:13 PM ET
(In response to this post by KeithHokie89)

Thread Replies (31)

Full Thread →
I have a question for anyone who can give me context on this major screwup>
HOKIERIT • 06/15/23 09:24 AM ET
The $73M is just the exit fee...I am guessing the total spend is more.**
BleedinOandM • 06/15/23 01:52 PM ET
I can shed some light on this and answer most of the questions below.
KeithHokie89 • 06/15/23 01:27 PM ET
Thanks for the clarification KH89. I did know it was VCU Health and not ->
HOKIERIT • 06/15/23 08:30 PM ET
Hey Keith...not sure how long you've been there but
tylerhokie • 06/15/23 06:44 PM ET
Nope**
KeithHokie89 • 06/15/23 08:16 PM ET
Let’s hear it for the VCU School of Dentistry whom annually turns out
DonHo-kieHi • 06/15/23 05:45 PM ET
It's a good program despite the obsolete buildings.**
KeithHokie89 • 06/15/23 06:41 PM ET
My dumb questions
HokieForever • 06/15/23 03:56 PM ET
COVID certainly played a part. The demand for office space plummeted.
KeithHokie89 • 06/15/23 06:10 PM ET
Too soon KH...you needed to let us continue with our assumptions for
Tuckahokie • 06/15/23 02:59 PM ET
Everybody should read the above post.......
2hhoop3 • 06/15/23 02:19 PM ET
There are similarities with the Diamond District development, however,
KeithHokie89 • 06/15/23 02:59 PM ET
More good info.......
2hhoop3 • 06/15/23 03:26 PM ET
So they had to pay a penalty to the developer for not signing a lease ◄
Vienna_Hokie • 06/15/23 02:13 PM ET
The developer reduced the size of the project in response to the health
KeithHokie89 • 06/15/23 02:53 PM ET
The law school thing was kind of a joke...
Vienna_Hokie • 06/15/23 05:00 PM ET
It's hard to believe but I don't think the city did anything wrong
KeithHokie89 • 06/15/23 06:14 PM ET
I do not know........
2hhoop3 • 06/15/23 06:54 PM ET
Seems to me.........
2hhoop3 • 06/15/23 05:55 PM ET
That's a very accurate assessment.**
KeithHokie89 • 06/15/23 06:12 PM ET
VCU...Keeping it Real**
Tuckahokie • 06/15/23 11:10 AM ET
Here is another VCU screw up, but on a smaller scale.**
Guy LeDouche • 06/15/23 10:50 AM ET
City of RIchmond--enough said.**
vthhhi • 06/15/23 10:31 AM ET
Not sure all the info......
2hhoop3 • 06/15/23 10:21 AM ET
It's only money. **
HokieGator • 06/15/23 10:08 AM ET
I would be curious how they spent the $425million loan, considering it
Guy LeDouche • 06/15/23 10:46 AM ET
Rat hole…….**
RJHokie • 06/15/23 11:10 AM ET
Students and recent alum HATE VCU President Rao.
GOHOKEE • 06/15/23 10:06 AM ET
Old news doug wilder blasted rao said he should be fired**
HokieJamie • 06/15/23 10:06 AM ET
Here are details about the situation
hoosnowahokie • 06/15/23 09:53 AM ET
Doubt their alumni will be ready to stroke them checks for any future...
EDGEMAN • 06/15/23 09:31 AM ET