Top 20 Places in America to Start a Business

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The Indicators of aThriving Downtown Richmond

As the capital city of Virginia, Richmond's downtown has been home to commerce and trade since its founding in 1737. In recent years, Richmond, especially downtown, has experienced a renewed intrigue in our city's assets, opportunities and support for love who help to build RVA up.

  • 2,554 Downtown Richmond businesses
  • 80,000+ Downtown employees
  • 8 craft breweries in Downtown alone
  • More than 185 restaurants in Downtown Richmond
  • Over 40 public art murals
  • 18 art galleries
  • 6.7% vacancy rate
  • 8.5% availability rate
  • $16,821,979 annually generated in parking revenue
  • Office Vacancy Rate 8.7 %
  • Unemployment rate: 3.2%
  • Retail sales increased 4.3%
  • Overall Asking Rent (Class A) $24.97/SF
  • More than 800 housing units currently under construction
  • 40% increase in resident housing since 2010
  • Over 20 miles of urban trails
  • Class IV & V rapids in the heart of Downtown along the James River
  • Of the city’s 16 Bike Share stations, 7 are located downtown
  • 14,195 trips, accounting for 75% of Bike Share trips, happen Downtown
  • Brown’s Island and the Canal Walk are favorite Bike Share return stops
  • 1,428 business entities with “RVA” in the name are registered with the SCC

Be sure to check out some of downtown Richmond's demographics and market data and don't miss out on the latest news around downtown Richmond's development!

* NOTE: Data prepared by Esri, CoStar and City of Richmond

Explore available storefronts in downtown richmond to open your new business here!

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