Feature: Richmond’s Rockett’s Landing

Behind the secretive plans to turn Richmond’s old dock into a gold mine.
Inside Business, Monday January 22, 2001

Mention Rocketts’ Landing to anyone with financial ties to the Richmond riverfront and chances are you’ll receive a steely response.

To date, investors and developers have treated the Rocketts’ Landing development project more like the famous Manhattan Project than a few acres of run-down flood plain and a couple of old warehouses along the James River.

They may have good reason to be secretive.

A group of investors that includes James S. Ukrop and Bill Abeloff is behind a massive plan to develop Rocketts’ Landing, which stretches along the river east of Tobacco Row on Route 5 from the edge of the city into Henrico County. Those familiar with the plans say the project will include an upscale mix of residential housing, restaurants and retail shops, as well as a marina.

If all goes according to plan, Rocketts’ Landing will become the city’s premier upscale residential community. It will also become the first true waterfront residential development in the city’s history and may help bolster development along Shockoe Bottom’s Tobacco Row and the canal. Continue reading

News: First Union to Wachovia, No Wheat

First appeared in Richmond’s Inside Business

RICHMOND – Last week, Richmond-based First Union Securities introduced a new advertising campaign to show off its new identity as Wachovia Securities.

With the new campaign and tagline “Uncommon Wisdom,” the company will forever shed the name First Union Securities and rename itself Wachovia Securities. The change is a result of the Sept. 1 megamerger between North Carolina banks Wachovia Corp. and First Union Corp.

With the merger, Wachovia had tough questions to answer. Does the securities arm of the bank, once known as Wheat First Butcher Singer, brand itself with Wachovia? Or does it create a new identity, separate from the bank?

Wachovia chose all Wachovia, all the time, for all its divisions: securities, lending and banking. But in the same week, Atlanta-based SunTrust took a slightly different route. It created a separately named subsidiary, Alexander Key, to sell some securities. Continue reading