RICHMOND, Va. (AP) - Virginia Commonwealth University has bought property in Richmond’s Fan District near the site of the VCU Institute for Contemporary Art.
The Richmond-Times Dispatch reports (https://bit.ly/2d7Ey92 ) the VCU Real Estate Foundation paid $2 million last week for the 0.2 -acre site, according to city records. The property’s assessed value is $562,000.
Evergreen Chinese Restaurant operates at the site and is open for business. The former property manager for that site, based in Bethesda, Md., could not be reached for comment by the newspaper.
VCU has bought other properties in the vicinity.
University spokesman Tom Gresham says there is no development plan at this time for the site where the Chinese Restaurant operates.
The Institute of Contemporary Art is under construction. The $41.2 million project is scheduled to open next year.
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Information from: Richmond Times-Dispatch, https://www.timesdispatch.com
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