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The $100M question: Why was doomed VCU Health development's loan amount so high?

“The big question is why the financing was $100 million higher than the projected cost, and where did that money go,” asked one of several observers who have scrutinized the ill-fated deal. ....

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'Wait till they really hear the deal': Despite efforts, doomed VCU Health development couldn't be saved

Emails show that the exit payment offer was at one point as high as $142 million, before the health system and its landlord settled on $73.1 million. ....

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'He won't stop': Health system CEO fought for VCU leadership to reconsider costly downtown development

“The developer exploited our desire to partner with the city.to push a grossly one-sided project that offers limited value to VCU Health but saddles us with all of the project’s costs and risks,” then-VCU Health CEO Art Kellermann said days before signing off on the deal. ....

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VCU board clears up committees' real estate, construction duties in wake of failed development deal

Richmond's Homepage For Business News ....

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Region/state roundup: William & Mary rising freshman wins VSGA Junior Stroke Play championship

Region/state roundup: William & Mary rising freshman wins VSGA Junior Stroke Play championship
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