Canal Walk’s future depending on Reynold’s development

Here’s a big statistic for you: The Canal Walk in downtown Richmond has helped to attract more than $400 million in real-estate investment, as well as recreational and other events, according to the Richmond Times-Dispatch. In Will Jones’ recent article, the focus was again on the next phase of Canal Walk, with the development of the old Reynolds Metal […]

May 19, 2011; 6:56 AM • by Phil Riggan

Here’s a big statistic for you: The Canal Walk in downtown Richmond has helped to attract more than $400 million in real-estate investment, as well as recreational and other events, according to the Richmond Times-Dispatch.

In Will Jones’ recent article, the focus was again on the next phase of Canal Walk, with the development of the old Reynolds Metal property:

A plan to redevelop the Reynolds Packaging Group’s vacant North Plant property will provide a spark, but the long-term success of Richmond’s Canal Walk area will require greater city support to improve parking, pedestrian access and other issues, a panel told a commercial real-estate group Tuesday.

Nearly 12 years after the 1.2-mile Canal Walk opened to spur investment, The WVS Cos. and Fountainhead Development LLC is working on a project that would bring initially about 220 apartments and 8,000 square feet of retail to the area. The developers hope to secure financing and start construction this fall, allowing the first units to open in mid-2012.

Richmond.com’s Alix Bryan also did a follow on this story, which included a link to a story I’d done in August 2010 when the Reynold’s sale was announced.

But what has me troubled is the comments section of the RTD article. I am amazed by the amount of comments from people that likely have never been to the Canal Walk but have such enlightened opinions to share. The only negative constructive comment that I’d agree with is that the Canal Walk does lack restroom facilities. Otherwise, I love it and take my children there often. It’s safe, beautiful and the potential for greatness is there, if we ever get around to stop complaining or comparing it to the 6th Street Marketplace.

I’m very interested in how the development progresses, and I do hope it remains mostly private — keeping the city involvement to a minimum. I can understand someone not wanted to see Richmond spend money on another potential “white elephant,” but I would hope that people would please at least be familiar with the area and visit a few times to educate oneself on the potential. In the 12 years of Canal Walk’s existence, it has been a good place to visit, but never GREAT, but I don’t think Richmonders have given it a chance yet.

May 19, 2011 6:56 AM 0