Lynx Ventures wrapped up development early last year on The Current mixed-use building in Richmond, Virginia, a project that adds modern office space to a former industrial district while incorporating the city's first food hall. In recognition of this consequential project, The Current earned a 2023 CoStar Impact Award for commercial development of the year in Richmond, as judged by a panel of local industry professionals.
Lynx broke ground in 2019 on The Current, a chic building with top-of-the-line amenities that has been touted as a transformative project for Richmond’s Manchester district, a former independent city and industrial area that has grown with the arrival of new office and retail options over the past several years.
The local firm secured its first office tenant for the project in 2021 when Koalafi, a payment plan provider formerly known as West Creek Financial, leased 37,481 square feet across the top three floors of the six-story building. The company is joined by PlanRVA, a regional organization that leased 8,611 square feet last year to help bring the building's occupancy to 82%, according to CoStar information.
The building is also home to 14,538 square feet of retail space anchored by Hatch Local, Richmond's first food hall, which includes seven local vendors, a grab-and-go market, a full-service cocktail bar and private event space. The vendors include Buttermilk + Honey fried chicken, the Beet Box juice bar and Fat Kid Sandwiches. The ground floor is also home to Benchtop Brewing.
About the project: The $68 million Current project offers modern finishes and flexible floor plates with floor-to-ceiling windows and a roof terrace that offers views of the James River and downtown Richmond skyline. Additional amenities include an on-site parking garage, electric vehicle charging stations and landscaped courtyard.
What the judges said: "The Current is an incredible development that brings needed food destinations to Manchester and has a fantastic office tenant as its anchor," said Andy Little, president of John B. Levy Co.
"Good architecture and transformative development for the area — will bring more people and retail to the area," added Scott Keeton, managing director of sales and leasing at Commonwealth Commercial.
They made it happen: Lynx Ventures developed and owns the building. Hickok Cole designed the project.