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65-565: Downtown Richmond is the central business district of Richmond, Virginia , United States. It is generally defined as being bound by Belvidere Street to the west, I-95 to the north and east, and the James River to the south. The Fan district borders it to the west, Highland Park to the north, Church Hill to the east, and Manchester to the south. The James Monroe Building and Truist Place tower over 449 ft, and 400 ft, respectively, making them Richmond's tallest buildings, and

130-455: A financial district . Geographically, it often coincides with the " city centre " or " downtown ". However, these concepts are not necessarily synonymous: many cities have a central business district located away from its traditional city center, and there may be multiple CBDs within a single urban area. The CBD will often be highly accessible and have a large variety and concentration of specialised goods and services compared to other parts of

195-519: A massive build-out, which included the construction of over 600 buildings. This would go on into the 80s, until the last few skyscrapers were topped out. In 1978, the Federal Reserve Bank of Richmond , designed by renowned architect Minoru Yamasaki , debuted. Now, the economy of Richmond is booming, with several Fortune 500 companies headquartered there. Dominion Resources , MeadWestvaco , and Universal are among those headquartered in

260-666: A million people to Richmond every year. There is also the 2nd Street Festival in Jackson Ward, considered part of Downtown, and an Italian Festival, the Que Pasa? Hispanic Festival, and in the holidays, the James Center Grand Illumination. Central business district A central business district ( CBD ) is the commercial and business center of a city. It contains commercial space and offices, and in larger cities will often be described as

325-738: A newer Rio de Janeiro suburb located in city's west region. The largest CBD in Colombia is Bogotá 's Centro Internacional , where some of the tallest buildings in South America have been repurposed as national headquarters for Scotiabank Colpatria , Davivienda , and Bancolombia , among others. Over the years, Bogotá has developed minor business districts, which include Avenida Chile , Ciudad Salitre , with companies like Avianca , Rappi , Johnson & Johnson , Terpel , Hilton , Hyatt , Marriott , Sheraton , Ramada , City Express , Aloft and Novotel ; or Complejo Santa Bárbara ,

390-700: A newly built business district near the Potsdamer Platz . The city's historic center (home to the Reichstag building , as well as the Brandenburg Gate and most federal ministries) was largely abandoned when the Berlin Wall cut through the area. Only after the reunification with the redevelopment of Potsdamer Platz , and the construction of numerous shopping centers, government ministries, embassies, office buildings and entertainment venues,

455-481: A true urban core there are still concerns among both civic and private institutions that the city will risk crime and dilapidation in the Downtown areas unless investment is forthcoming. The City of Richmond Downtown Master Plan concretises the official line which is to build upward and create a Condo tower-based residential area Downtown. This will provide "the perfect place to live, work, and play". This will not solve

520-534: A whole. Singapore's CBD is the historic heart of the city-state, which makes it a mix of a tourist attraction and a business center. The CBD includes several multinational corporate headquarters, Singapore Management University , and historical buildings and museums. As of 2016, the Singaporean government intends to redevelop Jurong East into a second CBD in Singapore. The area has also been earmarked as

585-635: Is Government Hill , the site of the old government headquarters. As the Hong Kong SAR Government Headquarters moved to Tamar, Admiralty, the nearby area is also considered part of the CBD. In Quarry Bay , Taikoo Place and areas nearby, including Admiralty , Wan Chai and Causeway Bay , and Tsim Sha Tsui , Kwun Tong , and Kowloon Bay are regarded as major business districts of Hong Kong. India 's capital New Delhi has been known for its CBD at Connaught Place . For

650-532: Is a theme favored by Mayor Dwight C. Jones, citing plans for large apartment and condominium towers on the Canal Walk and hoping that it will attract tourists to Richmond. Unfortunately this has not occurred, however the planning is now taking a more modest line aimed at enhancing the challenge of a rather dull and empty space. Plans for the demolition of the old Reynolds Metals plant are still awaiting funding of around $ 50 million to be followed by reconstruction of

715-540: Is also one of the most important business districts of Pakistan. Gulberg, Lahore has a large number of important office buildings as well as many high-rises and shopping malls. Pakistan established its first central business district, Lahore Central Business District, also known as Central Business District Punjab (CBD Punjab) by an ACT of Parliament (LCBDDA Act, 2021) in February 2021. Jinnah Avenue in Islamabad

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780-635: Is an area in Richmond, Virginia , just east of downtown, along the James River. Located between Shockoe Hill and Church Hill , Shockoe Bottom contains much of the land included in Colonel William Mayo 's 1737 plan of Richmond, making it one of the city's oldest neighborhoods. Shockoe was named in the 1730 Tobacco Inspection Act as the site of a tobacco inspection warehouse on land owned by William Byrd II . The area's development in

845-549: Is located. The region comprising Avenidas Berrini, Doutor Chucri Zaidan, and Nações Unidas, the city's newest commercial district, has offices of multinational companies and also commercial services. In Rio de Janeiro , Brazil's second-largest city, the main business district still is in downtown, where Petrobrás and Vale headquarters are located, but there is a concentration of business in Botafogo harbor and in Barra da Tijuca ,

910-680: Is the first of its kind in Indonesia, and one of the largest commercial center developments in the city. Jakarta started developing its business district in the early 1960s before hosting the Asian Games in 1962 . Surabaya in East Java built its first central business district in the Darmo region. The construction was expected to be completed by 2018 with 150 SOHO units and 500 residences. In Italy , business districts do not coincide with

975-470: Is the main business district of the city. Blue Area is the central business district of Islamabad . D Ground is the central business district of Faisalabad and Saddar is the main central business district of Rawalpindi . In Peru , the central business district is San Isidro , in Lima , which hosts the majority of Peru's financial industry headquarters. Although still a largely residential district,

1040-446: Is widely used officially and colloquially, in the sense of city centre. The two biggest cities, Melbourne and Sydney , have large CBDs. Sydney features growing micro central business districts, which serve as the hub for their respective areas outside the CBD. An example is Parramatta , which is considered the financial hub of Western Sydney . São Paulo is a multipolar city, with several business districts. Avenida Faria Lima and

1105-669: The COEX mall, are major thoroughfares in Seoul. The tallest buildings in Gangnam include Tower Palace One , a residential complex, Trade Tower , Gangnam Finance Center, and Parnas Tower. Seoul's third business district is Yeouido , an island located in central Seoul in the Yeongdeungpo District . Yeouido was developed in the 1970s; since the 1990s, however, it has become Seoul's financial center. Smaller in geographic size that

1170-477: The Italianate style , including a 1909 fountain, dedicated to "one who loved animals." The buildings in the district, which historically housed a variety of offices, wholesale and retail establishments, are now primarily restaurants, shops, offices, and apartments. It warehoused many of the city's goods, mostly tobacco. The district began declining in the 1920s, as other areas of the city rose in prominence with

1235-446: The James River , development was greatly stimulated by the completion of Richmond's James River Flood Wall and the Canal Walk in 1995. The next flooding disaster came not from the river, but from Hurricane Gaston , which brought extensive local tributary flooding along the basin of Shockoe Creek and did extensive damage to the area in 2004, with businesses being shut down and many buildings condemned. A major boom in residential growth

1300-600: The Richmond Folk Festival , which is now one of the biggest festivals in the state, drawing as much as 200,000 people in its weekend long schedule. It takes place each year on Brown's Island and the surrounding area. There is also the National Beer Festival, which was scheduled to come to Richmond for 2011, but will return next year on account that it was cancelled under mysterious circumstances. There are much more festivals that bring nearly

1365-670: The Shockoe Bottom African Burial Ground , long used as a commercial parking lot, most recently by Virginia Commonwealth University , a state institution. It was reclaimed in 2011 after a decade-long community organizing campaign, and today it is a memorial park, though part of the burial ground lies beneath Interstate Highway 95. On the eve of the fall of Richmond to the Union Army in April 1865, evacuating Confederate forces were ordered to set fire to

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1430-726: The 555-metre tall Lotte World Tower , Guro Digital Complex, Gasan Digital Complex, the Magok Business District, the Sangam Digital Media City, the Munjeong Administrative Town, and Mapo Avenue. The area near Yongsan Station , including the proposed Yongsan International Business District , is considered an emerging major commercial district that will exist in synergy with nearby Yeouido . Shockoe Bottom Shockoe Bottom , historically known as Shockoe Valley,

1495-874: The Philippines. In Poland , the terms śródmieście or centrum are often used to describe the central business district. The largest central business district in Russia is the Moscow International Business Center (MIBC) in Moscow , a commercial development located just east of the Third Ring Road at the western edge of the Presnensky District in the Central Administrative Okrug of

1560-475: The advent of the automobile. Numerous structures would be demolished and cleared, including (in the 1950s), the Tobacco Exchange , which had been at the heart of the district. Up until they moved from Tobacco Row in the 1980s, the area was home to many of the country's largest tobacco companies. Shockoe Bottom is home to several historic sites and buildings: After centuries of periodic flooding by

1625-636: The banking interests that form the backbone of the city. Industry friendly investment in infrastructure has enhanced Richmond's reputation and attracted business through the establishment of areas such as the Virginia BioTechnology Research Park, (located north of the Richmond Coliseum ), which markets itself as a premier office park for research. However although much has been done in Richmond towards establishing

1690-575: The central business district. These terms can be literally translated as " inner city " and "city center". Some of the larger cities have more than one central business district. For example, Berlin alone has three. Due to Berlin's history of division during the Cold War , the city contains central business districts both in West ( Kurfürstendamm ) and in East Berlin ( Alexanderplatz ), as well as

1755-506: The city centre (and in some cases, outside the city limits itself). This distinction is quite common in European cities such as Paris , Moscow , Vienna , Prague and Budapest . The New World grew quickly after the emergence of modern transport, therefore a single centre often included many of the region's tallest buildings and served as both a commercial and cultural city centre. In the 21st century, increasing urbanisation has led to

1820-482: The city's tobacco warehouses. The fires spread, and completely destroyed Shockoe Slip and several other districts. The district was quickly rebuilt in the late 1860s, flourishing further in the 1870s, and forming much of its present historic building stock. Architecturally, many of the buildings were constructed during the rebuilding following the Evacuation Fire of 1865 , especially in a commercial variant of

1885-605: The city's CBD. In South Korea , the national capital of Seoul includes three central business districts. The Downtown Seoul , a historic area inside the Fortress Wall of Seoul in the Jongno and Jung districts has historically been the city's political, social and cultural heart, and still houses many corporate headquarters and political institutions in South Korea. It is also the most popular area for tourists and

1950-650: The city's main commercial district. While the district has a high density of high rise buildings, the tallest building, the SK Building, only reaches a height of 160m due to historic preservation regulations. The second main district, located in the southeast part of Seoul, is Gangnam District , an area that was developed in the 1980s and is now among the city's most affluent neighborhoods. The Gangnam District has concentration mainly in economic power of Seoul, as many of prominent company HQs are located on Teheran Avenue . Gangnam Avenue and Yeondong Avenue, which includes

2015-703: The city. Midtown Manhattan is the largest central business district in New York City and in the United States. In Chicago , the Chicago Loop is the second-largest central business district in the United States. It is also referred to as the core of the city's downtown. Mexico City also has its own historic city center , the colonial era "Centro Histórico", along with two CBDs: the mid-late 20th century Paseo de la Reforma in Polanco , and

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2080-724: The city. As of 2021, it is still under development. The construction of the MIBC takes place on the Presnenskaya Embankment of the Moskva River , approximately 4 kilometers (2.5 mi) west of Red Square , overlooked by the Third Ring Road. The project occupies an area of 60 hectares. The second-largest central business district is Yekaterinburg-City in Yekaterinburg , the fourth-largest city in

2145-515: The commercial and business activity located in or in the vicinity of the area. It has a permanent population of around 63,000 inhabitants and, during weekday business hours, a floating population that exceeds 700,000 daily commuters from other districts in Lima , the national capital. San Isidro is served by three stations of El Metropolitano , Lima's bus rapid transit system: Estación Javier Prado , Estación Canaval y Moreyra (with over 16,000 daily passengers) and Estación Aramburú . In

2210-643: The controversial plan to construct a minor league baseball stadium, a national museum of slavery, a Hyatt hotel, a Kroger grocery store, and residential and commercial office space at the site. In 2016 The National Trust for Historic Preservation, Dr. Max Page of the University of Massachusetts Center for Design Engagement, the Sacred Ground Historical Reclamation Project , and the now defunct Richmond Slave Trail Commission began collaboration on an updated concept for

2275-656: The country. It is located on the Iset River , and is under development as of 2021. The area occupies five hectares. Saudi Arabia has several business districts, including: In Singapore , the CBD is in the Downtown Core , one of the constituent planning areas of the Central Area , the country's city center . Its densest point is centered around Raffles Place , where most of Singapore's skyscrapers are located. The CBD sometimes also describes Central Area as

2340-466: The development of megacities that often have multiple CBDs scattered across the urban area. Downtown sections of cities, especially in North America , often are distinct from CBDs and city centres. No two CBDs have the same spatial shape, but there are certain common geometric patterns, which are largely a result of centralised commercial and industrial activities. In Australia , the term CBD

2405-468: The downtown district. MeadWestvaco built its new headquarters in 2010. However large areas of the town were allowed to fall into disrepair until the creation of large swathes of HUD priority areas in the worst areas. Developers were quick to take advantage of the generous re-development loans especially since there was a ready-made market in the form of students requiring cheap housing. The Shockoe Bottom and Shockoe Slip districts have successfully begun

2470-404: The early 21st century, the southeastern district of Surco experienced a significant increase in upscale corporate developments in the area comprised by avenues Manuel Holguín, El Derby, El Polo, and La Encalada due to lower restrictions to grant construction permit and proximity to residential middle and upper class districts and is set to become, after traditional San Isidro and Miraflores ,

2535-703: The extended area of Gomti Nagar , and Aminabad in old Lucknow. Kolkata also has central business districts, including B.B.D. Bagh , Park Circus , Esplanade , Salt Lake Sector V , and New Town . The largest CBD in Indonesia is the Golden Triangle ( Segitiga Emas in Indonesian ) in Jakarta . Sudirman Central Business District , a super block that is located within the Golden Triangle,

2600-516: The fact that there are no major national chain stores located in downtown or its direct vicinity. A rapid transport system to provide faster links between Washington and Richmond is also mooted as important to the create of New Richmond according to Mayor Dwight C. Jones : high-speed rail . Downtown Richmond also is home to some of the nation's biggest festivals, including the National Folk Festival from 2005 to 2007, which spawned

2665-599: The financial capital of the country, the famous CBD is The Bandra Kurla Complex in Mumbai . In Mumbai itself there is Nariman Point , which is another CBD including Andheri and Parel . Parry's Corner and Nungambakkam are among the main CBDs of Chennai . Bangalore has five notable business districts: UB City , Brigade Gateway, Koramangala , Indiranagar , and Electronic City . Lucknow has three business districts, including Hazratganj Market , Gomti Nagar Extension at

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2730-581: The fourth in the world. La Défense hosts 19 of the world's biggest 500 companies , whilst the Paris region as a whole hosts 29 of the world's 500 largest companies, establishing itself as the first city in Europe (and the third worldwide) for the number of companies classified in Fortune Fortune Global 500 . In Germany , the terms Innenstadt and Stadtzentrum may be used to describe

2795-574: The geographical centers of the city because the city center is the historical center of the city, and usually not very suitable to function as a modern business district. A precursor to modern business districts is EUR in Rome , which is now home to several national and international companies and public bodies. The EUR, the Napoli business district , the Milan business district , and City Life , are among

2860-593: The historic John Marshall hotel is also aimed to provide inner-city living space for an optimistic planning target for residency. This is echoed by the planned new construction of Shockoe Valley Heights, a large residential development in Shockoe Bottom. The partial redevelopment of Tobacco Row , a huge row of old tobacco warehouses near fashionable Cary Street is now complete and has attracted favorable attention. The economical loft conversions have proved popular among student tenants. Further housing and redevelopment

2925-524: The largest in the nation, and a major player in the slave trade market. The district now known as Shockoe Bottom was the largest and most famous slave trade market in the entire nation, with people traveling from the South to trade, purchase, or sell slaves. When the Civil War came, though, Richmond became much of a military town, serving as the capital of the newly formed Confederate States of America . As

2990-574: The last of which features the only W Hotel in the city. Colombia's other notable CBDs include Parque Berrío in Medellín , Bocagrande in Cartagena (the largest touristic CBD in the country), and Paseo de Bolívar in Barranquilla . La Défense , west of Paris , is France 's largest central business district. La Défense was in 2017 ranked as the leading CBD in continental Europe, and

3055-481: The late 18th century was aided by move of the state capital to Richmond and the construction of Mayo's bridge in 1788 across the James River (ultimately succeeded by the modern 14th Street Bridge ), as well as the siting of key tobacco industry structures, such as the public warehouse, tobacco scales, and the Federal Customs House in or near the district. Throughout the 19th Century, Shockoe Bottom

3120-546: The master planning of Bonifacio Global City. Ortigas Center (fourth), with an area of more than 100 hectares (250 acres), is the Philippines' second most important business district after the Makati CBD and is home to Asian Development Bank. Meanwhile, the Makati Central Business District (third), also known as the Makati CBD, is the leading financial and the largest central business district in

3185-423: The most important commercial areas in Italy. Other important business and financial centers are present in Genoa and Brescia . In Pakistan, a central business district or a large, concentrated urban setting within a settlement is called a shehar . Karachi is Pakistan's largest city and the country's economic hub; the I. I. Chundrigar Road acts as Karachi's main financial district. Shahra-e-Faisal in Karachi

3250-400: The neighboring districts, Itaim Bibi and Vila Olímpia , now concentrate a large part of the financial activities in São Paulo and Brazil . Avenida Paulista and nearby streets is a well-established financial center that has several banking offices and corporate headquarters, as well as hospitals. Its Historic Center was the city's first business center; There, the São Paulo Stock Exchange

3315-414: The new Santa Fe , respectively. Russia 's largest central business district is the Moscow International Business Center in Moscow . The shape and type of a central business district almost always closely reflect the city's history. Cities with strong preservation laws and maximum building height restrictions to retain the character of the historic and cultural core may have a CBD quite a distance from

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3380-418: The new financial center of Lima . The Philippines has three major central business districts, which are all located in Metro Manila. Bonifacio Global City (second) is the newest and one of the largest central business districts in the Philippines. The Bases Conversion and Development Authority (BCDA), Ayala Land, Inc. and Evergreen Holdings, Inc. controls Fort Bonifacio Development Corporation, which oversees

3445-406: The new School of Medicine under construction will be 12 storeys). Other important buildings Downtown include the Richmond Coliseum and the Greater Richmond Convention Center (which includes a tourist information office). Shockoe Bottom and Shockoe Slip also have nightclubs, bars, condo towers and lofts in various architectural styles. From the 1800s, downtown Richmond was a booming city, one of

3510-425: The old canal system and development of the infrastructure with HUD grant aid before private interests can be offered a suitable development area. Richmond's downtown is rich in history especially from the Civil War and reconstruction period, the "Gilded Age". A great deal of attention has been devoted to the potential tourism holds for the city, however the mainstay remains the VCU facilities and students together with

3575-403: The other two business districts, Yeouido has some of Seoul's tallest skyscrapers, including Parc1 Tower , International Finance Center Seoul , and the 63 Building . Yeouido is where the National Assembly of South Korea and many media companies and political institutions are based. Smaller but notable central business districts in South Korea include the Jamsil area, which is the location of

3640-465: The process of converting tobacco warehouses and factories into lofts and apartments. Canal Walk is under consideration for development both on the residential and service sector sides, however it is not clear whether there is real consumer appetite for additional restaurants, bars and coffee shops in Richmond. HUD developments in the Manchester district are hoping to start converting former factories into apartment and loft complexes. Residential conversion of

3705-450: The site of the rail terminus for the Kuala Lumpur–Singapore High Speed Rail . South Africa 's largest cities, Cape Town , Durban , Johannesburg , Pretoria , and Port Elizabeth , have CBDs that include the corporate headquarters for many of South Africa's largest companies, its convention centers , and many of the country's tallest buildings. Cape Town has one of South Africa's most iconic skyline (which includes Table Mountain ) and

3770-465: The slaves were free, Richmond saw new economic opportunities in other businesses, such as finance, retail, and banking. In the 1920s, America shifted into an Art Deco period, which included the construction of many fancy buildings in Downtown Richmond, notably the Central Bank Building. Also, department retailers saw investment in the downtown sector, and opened up flagships . This included Sears & Roebuck , Thalhimers , and Miller & Rhoads . But

3835-424: The slow yet massive move out into suburban areas began making its mark on Downtown, as these department stores expanded out to the new suburban shopping centers, and eventually Sears closed the downtown store, and Thalhimers and Miller & Rhoads went defunct in the 90s. Although retail was becoming less and less of a viable economy for downtown, banking and big business began booming, and in the 1960s, Richmond began

3900-484: The state's second and third tallest in the behind the Westin Virginia Beach Town Center at 508 ft. Other towering skyscrapers include the Federal Reserve Bank of Richmond , Bank of America Plaza, the James Center , Richmond City Hall , the Riverfront Plaza twin towers, the James Madison Building, Dominion Energy headquarters building, Main Street Centre, the Central National Bank , and VCU Medical Center (which includes several hospitals, most over 200 feet, and

3965-399: The trade in human beings fueled the creation of wealth for Southern whites and drove the economy in Richmond, leading 15th Street to be known as Wall Street in the antebellum period, with the surrounding blocks home to more than 69 slave dealers and auction houses. In 2006, archaeological excavations were begun on the former site of Lumpkin's Jail . Nearby, located at 15th and E Broad St., is

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4030-432: The war came to an end, the South, in a last resort, deliberately set fire to Richmond, so that when the Union troops arrived, the entire city was ablaze. The troops tried to extinguish the fire, but 80 percent of the buildings of Downtown Richmond was completely burnt to the ground. In the era of Reconstruction , Richmond devised to rebuild and prosper back to the top as it once was, and quickly rebuilt itself. Now that all of

4095-407: Was created in the mid-1990s when old warehouses in Tobacco Row were converted into apartments. Since then, more vacant buildings have been replaced with residential dwellings and new ones have been built. The National Trust for Historic Preservation named Shockoe Bottom one of America's 11 Most Endangered Historic Places in 2014 and a National Treasure shortly thereafter because of "Revitalize RVA",

4160-514: Was the area revived. In Frankfurt am Main 's city center, there is a business district called the " Bankenviertel ". In Düsseldorf , there is a business district which is located around the famous high street Königsallee with banks, shops and offices. Traditionally, the Central Business District "CBD" of Hong Kong is Central , where many multinational financial services corporations have their headquarters. Consulates general and consulates of many countries are also located in this area, as

4225-436: Was the center of Richmond's commerce with ships pulling into port from the James River. Goods coming off these ships were warehoused and traded in Shockoe Valley. Between the late 17th century and the end of the American Civil War in 1865, the area played a major role in the history of slavery in the United States , serving as the second-largest domestic slave trade site in the country, second to New Orleans . Profits from

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