Virginia Commonwealth University has purchased the former Virginia Alcoholic Beverage Control Authority warehouse on Hermitage Road, the final piece of property to build a sprawling athletics village.
The university bought the parcel for $16 million, most of which was funded by the state, Richmond Bizsense reported.
VCU already bought the Bourne Enterprises building across Sherwood Avenue for $7.25 million, the Greyhound Lines facility for $12 million, the Salvation Army site for $4.5 million and the James River Distillery for $183,000.
Altogether, the properties sold for almost $40 million. VCU has begun raising money for construction.
Source: Richmond Times Dispatch
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