Posted on 11/16/2021 by Michael Schwartz at Richmond BizSense
Parkway Corp. can’t seem to get enough downtown parking lots.
The Philadelphia-based parking and real estate development firm last week snatched up another set of parcels in Richmond, this time two surface lots in Monroe Ward.
The company paid $2.87 million for a half-acre made up of adjoining parcels at 115 N. Foushee St., 3 E. Grace St. and 9 E. Grace St., as well as the nearby lot at 101 W. Grace St., which is less than a quarter-acre.
The seller was longtime Richmond-based Jim’s Family Parking. The parcels were most recently assessed at a combined $1.2 million.
It’s the latest local deal for Parkway, which since 2016 has spent more than $7 million on lots in Jackson Ward and Monroe Ward.
In 2016 it paid $2 million for a 0.75-acre surface parking lot at 200 E. Marshall St., where it has since partnered with locally-based SNP Properties to propose a 12-story mixed-use building. That project is still in the planning stages.
In 2019, its paid $2.3 million for a nearly 1-acre assemblage bordered by East Marshall, North 2nd and East Clay streets in Jackson Ward.