A Charlottesville-based bank has discovered its spot for its first Richmond-area department – an outdated evening membership constructing in one of many metropolis’s most sought-after neighborhoods.
Virginia Nationwide Bank, a $717 million bank with a handful of branches principally round Cavalier nation, this month signed a lease for two,700 sq. ft within the former Infuzion Dance Membership at 1401 Roseneath Street.
The bank has been looking for a website for a full-service Richmond outpost since quietly getting into the market about 18 months in the past with a number of industrial lenders on the bottom right here.
The brand new department shall be led by John Dane, VNB senior industrial lender.
“Clearly everybody knows what’s going on in Scott’s Addition and the building really works well for our model,” Dane stated, including that the model features a concentrate on expertise and cell banking providers.
The department within the close to time period will home Dane in addition to two different industrial lenders. They’ll focus primarily on successful enterprise shoppers and industrial loans, however over time ramp as much as deal with extra retail clients out of Richmond.
The bank shall be on the bottom ground of the two-story, 8,000-square-foot constructing, which is being redeveloped by Chesterfield-based Blackwood Improvement. The corporate purchased the outdated evening membership (as soon as identified for its bar made from strong ice) in September 2017 for $1.6 million.
VNB will share the bottom ground with Wooden & Iron Gameday, a brand new restaurant from the house owners of the Flyin’ Pig Yard Grill and Asado that’s deliberate for a gap seemingly later this summer season. It’ll be the second Wooden & Iron location, becoming a member of one in Chesterfield.
The bank and restaurant additionally will share the constructing with Utopia area, which shall be on the constructing’s higher ground.
VNB hopes to be open earlier than yr’s finish, though Dane stated the coronavirus shutdown is slowing down the method.
“Everything is slowed down from design to what’s going to be needed for permitting,” Dane stated. “We’re understanding of that, but the sooner the better.”
VNB could be one of many few banks within the neighborhood, becoming a member of an M&T Bank department up the road on the nook of West Broad Avenue and Highpoint Avenue.